Africa Botswana Commodities Diamond Economy Governance Mining

Botswana must diversify to reduce dependence on diamonds – president

It is “more imperative than ever” for Botswana to diversify into other commodities such as gold and base metals, after an abysmal year for the diamond market hurt government revenue, Botswana’s President Mokgweetsi Masisi said on Wednesday.

The COVID-19 pandemic upended the global diamond industry, and Botswana must curb its overdependence on the precious stones, the president told the Investing in African Mining Indaba.

Botswana aims to develop other minerals, including coal, which the country has an estimated 212 billion tonnes of.

Masisi said the government is working with neighbouring countries to develop infrastructure to export coal.

Also read: Lucara finds second large diamond this year in Botswana

Source: Reuters

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