Africa-Press – Botswana. Australian Stock Exchange (ASX)-listed Cobre has received a significant boost for the development of its potential tier-one copper-silver deposits in Botswana. The company announced its selection to participate in the 2024 BHP Xplor Program this week, a world-first accelerator initiative by BHP designed to unearth critical mineral deposits. This program aims to unite BHP experts, thought leaders, and innovative mineral explorers, providing participants with the opportunity to accelerate their exploration concepts and potentially establish long-term partnerships with BHP.
Cobre plans to utilize the $500,000 funding from BHP Xplor to advance its exploration programs, focusing on assessing and progressing targets with the potential to host tier-one copper-silver deposits. With ownership of the second-largest landholding in the Kalahari Copper Belt (KCB), one of the most promising areas globally for copper exploration, Cobre is exploring approximately 8,100 km2 of tenements within the KCB.
Adam Wooldridge, Cobre’s CEO, expressed enthusiasm for the partnership, highlighting the unique opportunity the Xplor program provides to collaborate with BHP experts in advancing their Kalahari Copper Belt targeting criteria and exploration initiatives.
In addition to KCB exploration, Cobre is intensifying efforts on the Ngami Copper Project (NCP) and Kitlanya West licenses in Botswana. This includes an infill diamond drilling campaign at Ngami to define a new copper deposit and a soil sampling program over Kitlanya, investigating regional opportunities within the KCB.
The move comes at a crucial time for the copper market, with demand projected to nearly double by 2035. However, concerns arise as projections indicate a 20 percent price jump by May 2027 due to an anticipated supply shortfall by 2025. Copper prices are expected to surge over 75 percent in the next two years, driven by mining supply disruptions and increased demand for the metal, particularly in the renewable energy sector.
Despite the rising demand, only a few new projects have entered commercial production in recent years. Botswana stands out in this regard, with two projects in the KCB – Khoemacau copper mine and Sandfire’s Motheo copper mine – contributing to global copper supply. Botswana, ranked in the top 10 globally for mining investment attractiveness, holds the top spot in Africa, reinforcing its position as a key player in the evolving landscape of the copper market.
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