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- Cobre (ASX:CBE) has won the chance to participate in the 2024 BHP Xplor Program to advance its Kalahari Copper Belt projects in Botswana
- BHP Xplor is providing Cobre with A$760,644 as well as mentorship, coaching, and connection into BHP’s network of suppliers and service providers
- Cobre will use the funds to advance its potential to host tier-one copper-silver deposits, with no further obligations or commitments once finishes the program
- The grant is a once-off opportunity and BHP may retain certain pre-emption rights on the Kitlanya West project for 12 months after the program
- CBE shares are up 102 per cent, trading at 8.3 cents at 12:11 pm AEDT
Copper and base metals company Cobre (ASX:CBE) has been selected to participate in the 2024 BHP Xplor Program, to advance its Kalahari Copper Belt projects in Botswana.
The world-first global program targets early-stage mineral exploration companies looking for critical resources that are vital to the energy transition.
BHP Xplor is providing Cobre with US$500,000 (A$760,644) to support its exploration strategy, along with mentorship, coaching, and connection into BHP’s network of suppliers and service providers.
Head of the BHP Xplor Program, Charlee Johnson, commented that the diversity and quality of the submissions were “inspiring”.
“We are excited to partner with this cohort and help bring their ideas and passion for their exploration projects to life, we aim to accelerate this process and create disruptive results with new concepts, data and testing opportunities,” she said.
Cobre intends to use the funds to advance its potential to host tier-one copper-silver deposits. There are no obligations or commitments on Cobre beyond the conclusion of the Xplor Program
The grant is a once-off opportunity and BHP may retain certain pre-emption rights on the Kitlanya West project for 12 months post the program.
CBE shares were up 102 per cent, trading at 8.3 cents at 12:11 pm AEDT.
