Verity Resources has finalised the Botswana copper-silver acquisition, securing 100% ownership of its 1,800km² portfolio of high-grade copper-silver and copper-nickel projects in Botswana.
The company, through its subsidiary African Metals, acquired the remaining 34% joint venture (JV) interest from BCL Investments, a Botswana Government subsidiary, under the farm-in JV agreement.
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In October 2025, Verity exercised its pre-emptive right under the farm-in JV agreement for the 34% BCL JV interest for $206,060 in cash, after BCL received an offer from an international mining corporation to acquire the same stake.
The strategic acquisition is said to streamline strategic and operational control by removing a liquidating JV partner.
Verity said that the acquisition provides flexibility to pursue a potential corporate event including farm-ins, project finance, spin-outs or asset sales from a 100%-owned position.
It is also expected to increase Verity’s ability to leverage a supply-critical metals portfolio that covers high-grade copper and silver in a mining district less than 50km from the Selebi nickel/copper mine and infrastructure.
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By GlobalDataVerity’s Botswana project portfolio is situated in the Limpopo Mobile Belt. The main assets include two high-grade copper-silver prospects, Airstrip and Dibete, the Maibele North nickel-copper-cobalt-platinum group elements (PGE) deposit, along with several regional exploration targets.
The Maibele North, Airstrip and Dibete prospects, located around 50–80km north-east of the Selebi mine and smelter complex, account for nearly 10% of the total portfolio.
The Selebi mine was recently acquired by NexMetals Mining, which received a $150m (C$209.19m) letter of interest from the Export-Import Bank of the US in July 2025 to support the re-development of the Selebi and Selkirk nickel-copper-cobalt-PGE mines in Botswana.
