NexMetals Mining announced on 20 October that indicated mineral resources at Selebi North, in Botswana, had almost tripled to 8.95 million tonnes. The estimate shows average grades of 1.03% copper, 1.08% nickel and 0.06% cobalt.
The indicated tonnage rises 198% from the 3 million tonnes estimated in 2024. Copper and nickel grades increase by 14% and 10% respectively, while cobalt is included in the assessment for the first time.
At Selebi North alone, inferred resources separately reach 9.48 million tonnes, up 63%, at 1.21% copper and 1.13% nickel. For the combined Selebi North and Selebi Main, NexMetals puts inferred resources at 41.95 million tonnes, 70% more than in 2024.
The update is based on 42,633 metres of drilling across 92 holes since the previous cut-off date. About 20% of resources previously classified as inferred have been converted into the indicated category, which reflects a higher level of geological confidence for future planning.
The figures, prepared by South African firm MSA Group with an effective date of 16 October, remain mineral resources rather than reserves. NexMetals is continuing a preliminary economic assessment of the project and says it intends to examine several restart options before setting a new timetable.
Selebi North and Selebi Main belong to the former BCL copper-nickel complex, which closed in 2016. The site retains shafts, underground access, and rail, electricity and road connections, which the company presents as assets for a possible redevelopment.