Cobre Ltd (ASX:CBE) said its exploration licences in the Kalahari Copper Belt, one of the most prospective areas in the world for copper exploration, have been renewed by Botswana's Department of Mines, subject to a binding earn-in agreement with Kalahari Metals Ltd (KML).
The five exploration licences, held by Triprop Holdings (Pty) Ltd, have been renewed for an additional two years until September 30, 2024.
Cobre executive chairman and managing director Martin Holland said: “The renewal of these exploration licences has come at a significant time for the company as we commence an aggressive exploration program in Botswana.
“The renewal cements the belt-scale opportunity provided by our extensive land package in the Kalahari Copper Belt, and will support an additional exploration pipeline of targets for future drill testing.
"Finally, the efficiencies shown during this renewal process once again reinforce Botswana as a Tier 1 friendly mining jurisdiction and a country that is a pleasure doing business in.”
About Cobre
Cobre is an emerging resources exploration growth company with prospective projects in Botswana and Western Australia.
The company hopes its enriched, high-grade copper discoveries and high-grade development pipeline will underpin copper’s future growth in the electric vehicle and renewable energy sectors.