Botswana is poised to significantly transform its mining sector, moving beyond its diamond-centric legacy to foster a world-class exploration destination. The nation aims to boost non-diamond exploration expenditure to P150 million by 2029, a strategic initiative designed to unearth new mineral wealth. This ambitious agenda was articulated by the Minister of Minerals and Energy, Ms. Bogolo Kenewendo, at the recent Future of Mining Summit in Gaborone.
The cornerstone of this transformation lies in legislative reforms enacted through amendments to the Mines and Minerals Act, which became effective in October. These amendments introduce critical provisions aimed at deepening local involvement and ensuring sustainable development. Key among these are mandatory local beneficiation requirements, a 24 per cent citizen ownership and equity participation threshold, and preferential procurement measures detailed under Section 12 of the Act.
Minister Kenewendo highlighted that the revised legislation also incorporates robust environmental rehabilitation obligations, mandates financial guarantees, and imposes stricter penalties for non-compliance. These measures are intended to curb speculative activities and actively promote the development of strategic value chains within the mining sector. Furthermore, the government is committed to creating a supportive legislative, fiscal, and institutional framework to attract private sector-led mineral exploration and investment, thereby intensifying diversification efforts.
The overarching strategy for mineral resource development, exploration, and value chain enhancement provides a clear roadmap. It focuses on strengthening investment, accelerating exploration, advancing beneficiation processes, and deepening citizen engagement in the mineral economy. While diamonds remain a dominant force, the exploration for copper, silver, and other minerals is deemed essential for Botswana’s economic diversification and long-term growth. The government’s commitment to expanding the sector beyond diamonds and unlocking the nation’s broader mineral potential is unwavering.
In parallel, the Ministry is finalising the Mines and Minerals Regulations, following extensive consultations with industry stakeholders. These regulations will further refine minimum beneficiation requirements across all mineral groups and tighten the renewal processes for prospecting and mining licences to deter speculators. The aim is to bolster local content requirements and citizen economic participation, encouraging genuine investment that drives production, employment, and economic diversification. Local processing and local content development are set to remain central pillars of this new regulatory framework, signalling a significant shift in how Botswana approaches its mineral wealth.
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