Jurisdiction spotlight: Kalahari Copper Belt offers decades of untapped potential for ASX explorers

• Despite majors circling, much of the Kalahari Copper Belt remains open, offering juniors ground-floor exposure to the region’s mining and resources potential
• For explorers like Belararox, it’s a classic case of first-mover advantage
• We interview BRX MD Arvind Misra on the greenfields opportunity on offer for explorers

Botswana’s Kalahari Copper Belt might be a decade behind the copper powerhouses of Zambia and the DRC, but that’s exactly what makes it so compelling.

Rich in high-grade sediment-hosted copper-silver, the Kalahari Copper Belt has emerged as a focal point for exploration dollars, development activity and investor attention, with majors like Sandfire Resources (ASX:SFR), MMG and BHP (ASX:BHP) already active in the region.

BHP alone has committed up to A$40m alongside Cobre (ASX:CBE) to chase Tier 1 copper-silver deposits at the Kitlanya East and West projects on the basin’s margins, while Sandfire reached commercial production at Motheo in May 2023.

Yet despite the arrival of heavyweight players, much of the belt remains wide open and underexplored, giving ASX juniors a rare shot at locking in prime copper ground before the big end of town drives valuations sky-high.

This “exploration gap” means much of the ground remains available at a fraction of the cost, offering a clear advantage for junior explorers to build substantial resource bases ahead of the next exploration wave.

Early-bird advantage

The 800km-long Kalahari Copper Belt is far from picked over and Belararox (ASX:BRX) is moving quickly with modern exploration, leveraging geological insights from neighbouring successes to accelerate its own discovery timeline.

In fact, Belararox sees its entry into Botswana’s Kalahari Copper Belt as a textbook case of first mover advantage.

While majors have already set up shop in the belt, their focus is largely on developing existing operations and advancing assets already locked in.

Belararox, on the other hand, has secured highly prospective ground giving it a cost base and strategic positioning that will be difficult to replicate once competition heats up.

Covering more than 4,200km2 and 14 licences along strike of producing and advancing mines including Sandfire’s Motheo, MMG’s Khoemacau and Cobre’s Ngami ISR project – where testwork just delivered copper cathode – the company is exploring in a district where mineralisation controls are well defined, setting up a clear roadmap for discovery.

“Our ground sits on the margins of the main Kalahari Copper Belt structures, an area that is highly prospective for hosting large-scale deposits,” BRX managing director Arvind Misra told Stockhead.

“These structural positions often act as traps for mineralisation, and with limited historical drilling, we see significant discovery potential that complements – rather than competes with – the more mature, already drilled areas where the majors are focused.

“We plan to leverage the successes of neighbouring companies by applying the geological insights, structural models and proven exploration techniques they have de-risked to our own ground, allowing us to fast-track targeting and reduce early exploration risk.

“The discoveries made by the majors surrounding us validate the broader belt’s prospectivity and by learning from their results while focusing on our unique structural positions, we can accelerate our own discovery timeline more efficiently and cost-effectively.”

Stable mining regime sets stage for copper hunt

Botswana has previously ranked in the past as Africa’s top mining jurisdiction for policy attractiveness by the Fraser Institute and Misra said that reputation was evident on the ground.

The government provides a transparent and predictable framework, licensing is relatively efficient and engagement with authorities has been constructive and professional.

“Exploration always has its logistical challenges, but the overall policy environment provides a level of stability, security of tenure, and investor confidence that sets Botswana apart from many other African jurisdictions,” he said.

Belararox kicked off 2025 drilling operations at the end of August, with activity focusing on the Kareng West tenement.

The explorer is lining up about 10 drill holes to test the D’Kar/Ngwako Pan contact zones – the sweet spot for copper mineralisation in the belt. Six high-priority targets are on the list, all sitting in the same horizons that majors are chasing next door, putting BRX right in the thick of the action.

Rigs are already on the ground and backed by a recent $8.5m raise, BRX is geared up for a busy run of exploration updates.

At Stockhead we tell it like it is. While Belararox is a Stockhead advertiser, it did not sponsor this article.