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A quiet corner of the sun-baked Kalahari Desert is set to become the epicentre of a high-stakes copper battle, as mining giant BHP has secured a commanding position in Australian explorer Cobre’s promising projects.
In a move that signals a significant escalation of interest in Botswana’s mineral wealth, BHP has secured the right to acquire a staggering 75% stake in Cobre’s Kitlanya East and West copper projects. This bold manoeuvre follows Cobre’s earlier recognition in BHP’s prestigious Xplor programme, a nod that came with a $500,000 injection to turbocharge their exploration efforts.
The deal, shrouded in the dust of the Kalahari, is far from a mere handshake. It’s a strategic alliance backed by hard cash, with BHP committing a minimum of $5 million in funding within the next two years. An ambitious $7 million exploration budget, set to ignite next month, underscores the seriousness of their intent.
“This isn’t just about digging holes,” a source close to the deal whispered, “it’s about unlocking the potential of a region that could redefine copper supply.”
Cobre’s chief executive, Adam Woolridge, was understandably buoyant. “The partnership with BHP will provide us with the funding and support necessary to implement a technology-driven work programme designed to discover the Tier 1 deposits we believe may be hosted in our Kitlanya East and West projects,” he stated, hinting at the potential for world-class discoveries.
This strategic play by BHP is more than just a financial investment; it’s a calculated gamble on the future of copper, a metal increasingly vital in the burgeoning electric vehicle and renewable energy sectors. The Kalahari, with its vast, largely untapped mineral reserves, is rapidly becoming a key battleground in the global scramble for resources.
Industry insiders are abuzz with speculation. Is this the start of a full-blown mining boom in Botswana? Will this deal trigger a wave of mergers and acquisitions as other mining giants scramble to secure their own slice of the Kalahari pie?
The Sunday Times understands that BHP’s interest was piqued by Cobre’s innovative exploration techniques and the tantalising geological data suggesting the presence of substantial copper deposits. The Xplor programme, designed to identify and support promising early-stage explorers, has clearly paid dividends.
As the sun sets over the arid landscape, the real work is about to begin. The rumble of drilling rigs and the hum of sophisticated exploration equipment will soon echo across the Kalahari, as BHP and Cobre embark on a quest to unearth the riches hidden beneath the sands. The stakes are high, the potential is immense, and the world is watching.
