Botswana is intensifying efforts to diversify its economy away from diamonds by encouraging investors to prospect for other minerals.This comes after the country was hard hit during 2020 when the outbreak of Covid-19 saw diamond prices plummet.“Covid-19 devastated the world economy. The diamond industry was one of the economic sectors that was severely affected by the pandemic, with serious consequences for diamond-producing economies such as ours,” said Botswana President Mokgweetsi Masisi. “Over the past year we have observed logistical challenges in exporting mineral commodities as travel restrictions were imposed and borders and ports closed. The markets for minerals such as diamonds nearly shut down completely.”This diminished the revenue of Botswana which remained diamond dependent. “The pandemic continues to pose challenges for the diamond industry. We have seen a drastic drop in raising funding for mineral prospecting and developing projects the world over. It has brought uncertainty to the industry. Countries and businesses are struggling with production and revenue forecasts.”Masisi said robust and innovative solutions and strategies were required to overcome the challenge the country faced.“Tough times like these call for greater collaboration among industry players to ensure the rebuilding of the mining sector. It calls for creativity and radical solutions to enhance the performance of the mining sector.”Diamond mining has played a pivotal role in the socio-economic development of Botswana which started in the seventies with only one mine. Today the country boasts several diamond mines, but has also established mining operations for other commodities such as copper, nickel, silver, soda ash, salt, chrome and gold.“Botswana’s mining industry is dominated by diamonds which puts the country’s revenue at risk because of market f luctuation. Overdependence on diamonds has made it imperative to urgently expand our revenue base to other minerals such as coal and base minerals.”He said efforts were under way to digitise and make geoscience information more readily available to investors to encourage prospecting for non-diamond minerals.“There are many new opportunities available for base metals,” said Masisi, indicating the potential for copper mining in the Ghansi and Maun areas.“Botswana has large coal reserves estimated at 212 billion tons that are largely unexploited. To this end we have developed a coal roadmap that has identified eight potential options, with the aim of increasing the contribution of this resource to our economy. They are classified based on their overall attractiveness, with coal exports, power exports and domestic power supply prioritised, followed by coal bed methane and cement production. I must underscore the roadmap promotes sustainable coal mining through the use of clean technologies as we seek to mitigate the effects of climate change.”He said in an effort to develop the routes to the seaborne markets, Botswana was working closely with neighbouring countries to put in place the necessary infrastructure to facilitate the export of coal.“The development of the mineral sector in Botswana is in full steam as evidenced by several exploration projects and the issuing of mining licences to private companies.”He said another ongoing development was that of encouraging more beneficiation in the mining sector of base metals and diamonds.“We have put in place strategies for mineral beneficiation that include base metal refineries encompassing the identification of suitable projects in copper, iron and nickel. The country is also expanding diamond processing beyond cutting and polishing by introducing alternative and additional diamond supply avenues,” said Masisi. “Furthermore, plans are at an advanced stage for the development of the Botswana multi-commodity exchange that will offer a platform for trading in various commodities. ”Overdependence on diamonds has made it imperative to urgently expand our revenue base to other minerals such as coal and base minerals.– President Mokgweetsi Masisi “The development of the mining industry in Botswana is steaming ahead.
