Botswana Diamonds Plc announced the award of eight prospecting licences covering approximately 7,000 square kilometres in north-western Botswana. The licence areas, which are valid through to 31st December 2028, were selected following an extensive AI-driven assessment of the Company's 95,000 square kilometres (including 375.000 line kilometres of geophysics) Botswana focused exploration database, which identified significant prospectivity for copper, with additional potential for gold and other critical minerals. Application of the same proprietary technology to diamond exploration has previously highlighted six previously unreported kimberlite-prone areas, over which the Company also holds licences.
The Company's expansion into copper reflects the current weakness in the diamond market, combined with the strong and growing demand for copper and other energy-transition metals. Botswana, as a country, continues to provide a highly stable operating environment with significant geological prospectivity. There is already significant copper activity in Botswana, including both MMG and Sandfire Resources operating newly discovered copper mines, alongside active exploration by Cobre Ltd. (which has a JV with BHP), Kavango Resources, Galileo Resources and Aterian plc.
Initial discussions have commenced with potential partners regarding a joint venture to advance exploration across the newly awarded copper-prospective licences. Meanwhile, the Company is planning to undertake close interval geophysical and geochemical surveys designed to define drill targets. The Company continues to monitor the diamond market and associated deployment of capital into its diamond projects.
