The deal follows Cobre's selection in BHP's Xplor programme in January last year in which the smaller rival received $500,000 to accelerate exploration plans in its Kalahari copper projects in the African nation.
The agreement sees at least $5m of committed funding to be paid to Cobre within two years of its commencement date, with a planned budget of $7m for exploration expenditure starting next month.
"The partnership with BHP will provide us with the funding and support necessary to implement a technology-driven work programme designed to discover the Tier 1 deposits we believe may be hosted in our Kitlanya East and West projects," Cobre chief executive, Adam Woolridge said.
Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.
Go to: https://www.reuters.com/
Topco Media 22 hours
