Australian miner targets 75% stake in Kitlanya East and West to expand exploration in the Kalahari Copper Belt.
Cobre, a copper exploration company, has signed an earn-in agreement with BHP, one of the world’s top mining firms. Under the deal, BHP will invest up to $25 million in Cobre’s Kitlanya East and Kitlanya West copper projects in Botswana.
The Kitlanya projects lie within the Kalahari Copper Belt, a region stretching 1,000 kilometers across Botswana and into Namibia. This copper-rich zone is gaining attention as a major source of future copper supply.
BHP Sets Sights on 75% Ownership Through Staged Funding
BHP can earn a 75% interest in the two projects by meeting exploration funding milestones. This includes an initial $5 million over two years and a $7 million work program starting in April 2025. BHP’s investment signals growing interest in copper resource development in Southern Africa. Meanwhile, Cobre will retain and develop its Ngami and Okavango copper projects independently. These projects are also located in the Kalahari Copper Belt, which continues to attract global exploration capital due to rising copper demand from the EV and energy sectors.
With this agreement, BHP deepens its exposure to critical minerals, while Cobre benefits from strategic funding to unlock the Kitlanya assets.
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