Mining giant BHP is set to invest up to AU$40 million in Cobre’s Kitlanya East and West copper projects in Botswana. This financial backing is part of an earn-in agreement that grants BHP the opportunity to acquire a 75 percent interest in the Kitlanya assets. The collaboration stems from Cobre’s involvement in BHP’s Xplor program in 2024, where Cobre received funding to advance its exploration plans in Africa.
The agreement between BHP and Cobre follows a letter of intent signed in September 2024, outlining plans for a joint venture agreement for the Kitlanya East and West projects. Cobre’s CEO, Adam Woolridge, expressed enthusiasm about the partnership with BHP, highlighting the potential for significant discoveries in the Kitlanya projects through a technology-driven exploration program.
Cobre gained ownership of Kitlanya East and West through its acquisition of Kalahari Metals in November 2022. BHP had previously conducted aerial surveys over Kitlanya West in the late 1990s, but ground exploration was limited. The decision to mobilize drilling activities at Kitlanya West signifies a strategic move to evaluate the mineral system for the formation of high-value copper deposits.
BHP’s Exploration Officer, Tim O’Connor, commended the partnership with Cobre, emphasizing the exploration potential in Botswana. The collaboration is a testament to the success of BHP’s Xplor program, which aims to accelerate exploration efforts and identify new mineral sources. The 2025 cohort of the Xplor program saw a record number of successful applicants, indicating a growing interest in exploration opportunities.
The transaction between Cobre and BHP excludes Cobre’s Ngami and Okavango copper projects in Botswana, which will continue to be developed independently. The focus remains on advancing exploration activities at Kitlanya East and West to unlock the projects’ mineral potential.
The copper market in Africa is expanding, with countries like the Democratic Republic of Congo and Zambia leading production. Botswana also plays a significant role as a copper producer on the continent. With the upcoming drilling activities at Kitlanya West, Cobre and BHP are positioning themselves to tap into the growing demand for copper in the region.
The partnership between BHP and Cobre underscores the importance of collaboration in the mining industry to drive exploration and discovery of new mineral deposits. By leveraging BHP’s financial support and expertise, Cobre aims to accelerate its exploration efforts and unlock the value of the Kitlanya East and West projects.
As the mining sector continues to evolve, strategic partnerships like the one between BHP and Cobre highlight the industry’s focus on innovation and exploration to meet the growing demand for base metals like copper. The investment by BHP in Cobre’s copper projects signifies a step towards sustainable resource development and economic growth in the region.
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