Australia's Cobre climbs on BHP deal for Botswana projects

Cobre

09/03/2025 23:18

** Shares of Cobre CBE.AX rise 13.6% to A$0.067 ,their highest level since November, 2024

** Explorer announces a deal with world's largest listed miner BHP BHP.AX for its Kitlanya East and Kitlanya West copper projects in Botswana

** Under deal, BHP will provide up to $25 mln for exploration expenditure and in return, be granted the right to earn a 75% interest in the Kitlanya Projects

** Deal is result of CBE's successful participation in the 2024 BHP Xplor program, which also funded a recent seismic survey on the Kitlanya West Project

** Stock up 27.5% YTD

 (Reporting by Kumar Tanishk in Bengaluru; Editing by Lincoln Feast.)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))