Botswana Diamonds wins eight licences in shift to copper exploration

Mon, 26th Jan 2026 13:07

(Alliance News) - Botswana Diamonds PLC on Monday said it has been awarded eight prospecting licences covering around 7,000 square kilometres in northwestern Botswana as part of an expansion into the copper market.

The Botswana and South Africa-focused diamond explorer said the licence areas, which run to the end of 2028, were selected after an assessment of its 95,000 square kilometre exploration database.

It said the database identified areas with "significant prospectivity" for copper, with additional potential for gold and other minerals.

"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 Diamonds said.

Shares in Botswana Diamonds were down 6.6% at 0.28 pence on Monday afternoon in London.

The firm noted that there is already "significant copper activity" in Botswana, with MMG Ltd and Sandfire Resources Ltd operating newly discovered copper mines, alongside active exploration by Cobre Ltd, Kavango Resources PLC, Galileo Resources PLC and Aterian PLC.

Botswana Diamonds said it has started initial discussions with potential partners for a joint venture to advance exploration across the licences.

It is planning close-interval geophysical and geochemical surveys to define drill targets.

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

"The further AI analysis of our extensive Botswana exploration database continues to deliver exceptional results...Copper and other energy-related minerals are critical to the energy transition for a greener future," said Chair John Teeling.

"The mission of Botswana Diamonds was and still is diamonds. But the market environment for diamonds is 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."

By Michael Hennessey, Alliance News reporter

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