Aim- and BSE-listed Botswana Diamonds has announced the award of eight prospecting licences covering about 7 000 km² in north-western Botswana, which could see the company entering the copper and gold markets.
 
The licence areas, which are valid through to December 31, 2028, were selected following an extensive AI-driven assessment of the company’s 95 000 km² Botswana-focused exploration database  – including extensive geophysical survey data – which identified significant prospectivity for copper, with additional potential for gold and other critical minerals.

Application of the same proprietary technology to diamond exploration previously highlighted six previously unreported kimberlite-prone areas, over which the company also holds licences.
 
Botswana Diamonds said its expansion into copper reflected the current weakness in the diamond market, combined with the strong and growing demand for copper and other energy-transition metals.

The company said Botswana provided a stable in-country operating environment with significant geological prospectivity, noting that there was already significant copper activity in Botswana, including both MMG and Sandfire Resources operating newly discovered copper mines, alongside active exploration by Cobre – which has a joint venture (JV) with BHP – Kavango Resources, Galileo Resources and Aterian.
 
The company said initial discussions had already begun with potential partners regarding a JV to advance exploration across the newly awarded copper-prospective licences. 

Meanwhile, Botswana Diamonds said it was planning to undertake close interval geophysical and geochemical surveys designed to define drill targets.

The company said it would continue to monitor the diamond market and the associated deployment of capital into its diamond projects.

“The further AI analysis of our extensive Botswana exploration database continues to deliver exceptional results. Following the . . . successful identification of kimberlite-prone ground, which led to the discovery of six previously unknown anomalies, we extended our analysis to copper and related minerals.

“The outcomes were outstanding. We have now secured eight prospecting licences covering many of these areas. Copper and other energy-related minerals are critical to the energy transition for a greener future,” Botswana Diamonds chairperson John Teeling said on January 26.
 
He added that the mission of Botswana Diamonds would remain focused on diamonds, but that the market environment for diamonds was poor at present.

“These market conditions will improve, and this approach allows us to continue progressing the business as a mining company while remaining committed to diamonds over the longer term.
 
“In the meantime, interest has been shown by third parties in both our technology and in the results and we see clear potential to progress these licences efficiently through partnerships and structured exploration programmes,” Teeling said.