BHP eyes Tier 1 copper deposits in Africa

BHP will spend up to $US25 million ($40 million) of exploration expenditure on Cobre’s Kitlanya East and West copper projects in Botswana.

This follows Cobre’s successful participation in BHP’s 2024 Xplor program, which recently funded a seismic survey at Kitlanya West.

As part of the agreement, BHP will need to spend a minimum of $US5 million in the first two years and can earn a 75 per cent interest in the Kitlanya projects by funding the full $US25 million of exploration expenditure.

BHP has already planned $US7 million of exploration at the Kitlanya projects commencing April 2025.

BHP exploration officer Tim O’Connor said the major miner was keen to explore the potential of the Kitlanya projects.

“This collaboration reflects our excitement for the exploration potential in Botswana and underscores the high standard of partnerships we see coming out of the BHP Xplor program,” he said.

“The Kitlanya projects in Botswana represent an exciting opportunity to uncover Tier 1 copper-silver deposits, and we are pleased to contribute our expertise and resources to this venture.”

Cobre chief executive officer Adam Wooldridge shared O’Connor’s enthusiasm.

“This significant transaction with BHP, one of the world’s leading mining companies, is a major moment in time for Cobre as a company as well as a testament to the success of BHP’s Xplor program,” he said.

“The partnership with BHP will provide us with the funding and support necessary to implement a technology-driven work program designed to discover the Tier 1 deposits we believe may be hosted in our Kitlanya East and West projects.”

The Kitlanya projects sit within the Kalahari copper belt in Botswana, which holds sediment-hosted and structurally controlled mineralisation.

“Of particular interest for Tier 1 deposits are the tight, upright folds which offer ideal trap-sites for upgrading of copper-silver mineralisation and formation of large deposits,” Cobre said.