Botswana is encouraging investment in the exploration for and exploitation of non-diamond minerals to expand the country’s investment base and diversify the minerals sector from its present dependence on diamond deposits.
Gaborone noted in a document seen by Rough&Polished at the Mining Indaba in Cape Town that it has set itself an objective to attract further investment from international mining firms.
Botswana had been granting licences to mine commodities such as coal, copper and iron ore.
It currently has more than 10 large mines for diamonds, copper, nickel, silver, coal and gold.
Botswana’s dependence on diamonds, which account for a fifth of the country's GDP and more than two-thirds of its foreign currency earnings, was exposed in 2020 when the COVID-19 pandemic paralysed the industry.
The pandemic drove diamond prices downwards, which saw the country's economy shrinking by about 8% last year compared to a growth of 4% before the pandemic.
Mathew Nyaungwa, Editor in Chief of the African Bureau, from Cape Town, South Africa, Rough&Polished
Gaborone noted in a document seen by Rough&Polished at the Mining Indaba in Cape Town that it has set itself an objective to attract further investment from international mining firms.
Botswana had been granting licences to mine commodities such as coal, copper and iron ore.
It currently has more than 10 large mines for diamonds, copper, nickel, silver, coal and gold.
Botswana’s dependence on diamonds, which account for a fifth of the country's GDP and more than two-thirds of its foreign currency earnings, was exposed in 2020 when the COVID-19 pandemic paralysed the industry.
The pandemic drove diamond prices downwards, which saw the country's economy shrinking by about 8% last year compared to a growth of 4% before the pandemic.
Mathew Nyaungwa, Editor in Chief of the African Bureau, from Cape Town, South Africa, Rough&Polished
