Botswana’s copper industry keeps growing, with two mines launched between 2021 and 2023. As copper becomes vital for the country's energy transition, investors are helping to diversify the local mining sector.
On September 23, Australian mining junior company Cobre announced it signed a letter of intent with BHP to negotiate an exclusive joint venture on the Kitlanya West and East copper projects. This deal highlights the increasing interest in Africa's copper potential.
The agreement with BHP will fully fund exploration work on these projects. However, the exclusivity’s duration, and the investment’s amount, are presently unknown.
? Cobre Limited (ASX: #CBE) signs an exclusive letter of intent with @BHP for a potential JV over our Kitlanya Copper Projects in Botswana!
— COBRE LIMITED (@CobreLimited) September 22, 2024
This could be a game-changer for Tier 1 #copper-#silver #exploration.
View the release: https://t.co/y5i8Pf5neN#BHP #Mining #ASX pic.twitter.com/d6BbnsZN2k
If successful, this partnership could help establish a copper industry in Botswana. The Khoemacau and Motheo mines began operations between 2021 and 2023, producing over 100,000 tonnes of copper concentrate annually.
Developing this industry is part of Botswana's efforts to diversify its mining sector, which is currently dominated by diamonds. The latter account for 30% of the country's GDP and tax revenues and 80% of exports. Reliance on diamonds poses risks as fluctuations in the global diamond market can significantly impact the economy.
On September 10, the IMF wrote in a press release: “Botswana is facing a severe slowdown from a diamond market contraction in 2023 and 2024. Growth is expected to fall to 1.0 percent this year, from 2.7 percent in 2023 and 5.5 percent in 2022. This reflects weaker global demand for diamonds and a sharp increase in inventories”
Emiliano Tossou
Algeria launches bid for two NGSO satellite telecom licenses Move aims to expand broadband ac...
Four major operators—Mauritel, Mattel, Rimatel, and Chinguitel—submitted a combined bid of ...
(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...
Nigeria, Nestlé sign MoU for dairy training center in Abuja Center to train farmers in breeding, ...
Operators review 2025 investments, outline 2026 expansion plans Consumer complaints persist...
Growth driven by private investment and stronger external inflows Primary surplus and tax revenues show marked improvement IMF lowers 2026...
Uganda appoints Citibank to arrange $3.19 billion railway financing Project links Kampala to Kenya border, boosting regional trade...
BOAD exits BOA Bénin and Niger, sells stakes to Sonimex BOA Bénin posts growth; BOA Niger sees sharp profit decline Divestment reflects...
Cellcom Guinea workers protest layoffs, unpaid salaries, unmet commitments Union demands audit, warns of possible administration or...
Fally Ipupa plans a two-part album project combining urban sounds and traditional rumba. The first album “XX” releases on April 17, while “XX Delirium”...
MASA 2026 gathers artists and industry professionals from over 28 countries in Abidjan. The event features 99 performances across market and...