Botswana President Mokgweetsi Masisi Image credit: Mining Indaba
He told a virtual 2021 Investing in African Mining Indaba that Botswana seeks to expand its revenue base to avoid reliance on diamonds.
Diamonds account for about 80% of Botswana's exports.
"The development of the minerals industry in Botswana is in full steam, as evidenced by several ongoing exploration projects and the issuance of mining licences to private companies," he said.
"This move will also catalyse private sector involvement in driving the beneficiation of minerals and as such creating more jobs downstream, particularly for our young people.”
"In this regard, Botswana has put in place strategies for mineral beneficiation, which include base metals refineries, encompassing the identification of suitable projects in copper, iron and nickel, as well as the creation of an enabling environment to drive these projects."
Masisi said Botswana is also expanding diamond processing beyond cutting and polishing by introducing alternative and additional diamond supply elements.
"This will provide [an] impetus for secondary rough trading, polished trading, space to support diamond business incubation and other diamond support services," he said.
Masisi revealed that plans were afoot for the development of a multi-commodity exchange that will provide a platform for trading various commodities beyond minerals.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
