Cobre Secures 25M BHP Investment for Botswana Copper Exploration

Cobre Secures 25M BHP Investment for Botswana Copper Exploration- Australian mining company Cobre (ASX:CBE) has secured a major investment from BHP, which has agreed to spend $25 million on exploration at Cobre’s Kitlanya projects in Botswana, in exchange for the right to acquire a 75 percent stake, according to a news report from Reuters.This agreement follows Cobre’s participation in BHP’s Xplor program in January of the previous year, where Cobre received $500,000 to advance its Kalahari copper projects in Botswana.Under the terms of the agreement, BHP will provide at least $5 million in funding to Cobre within two years from the commencement date, with…

Source: investingnews.com