Canadian exploration company NexMetals Mining Corp has secured a letter of interest from the Export–Import Bank of the United States (EXIM), signalling possible financing of up to $150 million for the redevelopment of its critical minerals projects in Botswana.
The funding, if approved, will go toward NexMetals’ nickel, copper, cobalt and platinum group metals operations in Selebi and Selkirk. The proposed 15-year loan facility would also come with provisions to prioritise U.S.-sourced goods and services, reinforcing American economic engagement in Botswana’s mining sector.
“This represents a willingness from the United States to fund critical metals projects in one of Africa’s safest and most stable jurisdictions,” said NexMetals CEO Morgan Lekstrom. “It clearly denotes the U.S. government’s specific interest in Botswana, recognizing both its rich mineral endowment and the scale of our high-grade projects.”
The EXIM Bank is also reportedly eyeing a separate $225 million facility for Giyani Metals’ K. Hill Manganese Project, further cementing American interest in Botswana’s critical minerals landscape.
NexMetals, previously known as Premium Resources, has been intensifying exploration at its Selkirk site in the northeast. The company has already completed over 2,800 metres of metallurgical drilling and is now turning its focus to deeper, previously untested zones.
Recent re-assays at Selkirk have delivered promising results, including a 3.95-metre intercept grading 5.59 percent copper equivalent—with nickel readings exceeding 6 percent. Notably, these findings lie outside the mine’s current inferred resource estimate of 44.2 million tonnes.
Exploration efforts are now being guided by borehole electromagnetic surveys, with drilling set to commence on targets identified in a 2012 airborne survey—zones that remain untouched despite being within the existing mining licence.
