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VFEX- and London-listed junior Kavango Resources is actively reviewing strategic options for its extensive land positions in the Kalahari Copper Belt (KCB) in Botswana, including the possibility of bringing in a joint venture (JV) partner to help advance exploration, Mining Zimbabwe reports.
By Ryan Chigoche
The company said the review remains at an early stage, with no assurance it will result in a transaction, or on the timing and terms of any potential deal.
The company’s contiguous ~6,200 km² licence package lies along strike from two of the belt’s standout assets — MMG’s Khoemacau copper mine and Sandfire Resources’ Motheo copper-silver project — giving Kavango a strategic foothold in one of Southern Africa’s most prospective copper provinces.
This proximity to established operations adds weight to the junior’s exploration ambitions and highlights the potential of its licences to host economically significant deposits.
Early drilling results have reinforced interest in the tenure. At the Karakubis prospect, diamond drilling intersected copper mineralisation in all seven initial holes, with portable XRF measuring grades exceeding 1% copper.
In addition, broad zones of hydrothermal alteration were encountered, suggesting the potential for larger, high-quality deposits. Together, these early results indicate that Kavango’s licences may mirror geological traits observed at other successful projects within the belt, further validating its exploration strategy.
Supporting this, geophysical surveys and structural interpretation indicate favourable folding and contact zones between the D’Kar and Ngwako Pan formations — geological settings historically linked with major copper mineralisation.
Moreover, satellite imagery analysis has highlighted structural parallels with Sandfire’s T3 copper mine, suggesting that similar mineralisation styles could exist on Kavango’s tenements.
These findings strengthen the case for continued exploration and underline the strategic importance of Kavango’s landholding.
Kavango emphasised that a JV is only one of several strategic avenues being considered. Bringing in a partner could provide both technical expertise and capital, enabling the company to accelerate drilling programmes, expand geophysical surveys, and advance towards resource definition.
At the same time, such a partnership would help share the costs and risks associated with early-stage exploration, which remain significant in frontier copper provinces like the Kalahari Belt.
The timing of these plans is also influenced by broader market dynamics. The global copper price environment has remained robust throughout 2025, supported by tight supply, resilient demand from electrification and industrial sectors, and constrained inventories.
On the London Metal Exchange (LME), copper has traded at historically strong levels, reflecting sustained bullish sentiment amid structural deficits. This price momentum not only increases the attractiveness of Kavango’s copper projects but also strengthens the rationale for exploring partnerships or accelerating development efforts.
While the Botswana copper assets draw attention, Kavango continues to progress its Zimbabwe gold portfolio. The company recently raised additional funding via a Zimbabwe subscription and share issuance to support working capital and exploration work, with the shares expected to be admitted on both the London Stock Exchange and the Victoria Falls Stock Exchange.
In Zimbabwe, Kavango has exercised its option to acquire 100% of the Nara Gold Project, secured funding for its local operations, and commenced resource drilling at the Bill’s Luck site on the Hillside Gold Project, targeting a maiden mineral resource estimate.
With Zimbabwe’s greenstone belt underexplored yet richly endowed, Kavango’s dual strategy of advancing gold production in Zimbabwe while pursuing copper discoveries in Botswana reflects a balanced approach.
This strategy positions the company to unlock substantial shareholder value while capitalising on favourable market fundamentals for both metals.
