12 Mar Energy Capital & Power – BHP Acquire Stakes in Botswana Copper, Silver Projects
Australian global mining firm BHP has acquired stakes in Cobre Limited, securing an interest in Tier 1 copper and silver projects in Botswana.
BHP will invest $25 million in Cobre, supporting the firm’s exploration project at the Kitlanya East and Kitlanya West Copper Projects in exchange for a 75% stake in the initiatives.
An initial $5 million will be provided over the first two years to fund a $7 million exploration campaign launching in April 2025. The campaign will include deep diamond drilling and a 2D seismic survey to assess mineralization. Additionally, BHP will offer a loan to support the projects through to the final investment decision stage.
“The Kitlanya Projects in represent an exciting opportunity to uncover Tier 1 Botswana copper-silver deposits, and we are pleased to contribute our expertise and resources to this venture,” Tim O’Connor, Group Exploration Officer, BHP.
Cobre previously received BHP funding to support its seismic survey for the projects.
Article link: https://energycapitalpower.com/bhp-acquires-stakes-in-botswana-copper-silver-projects/