The Southern African nation, often regarded as a regional success story, has experienced significant challenges due to a sustained downturn in the international diamond market, attributed to economic uncertainty and the increased adoption of lab-grown alternatives. Traditionally, diamonds contribute about one-third of Botswana’s national revenue and account for three-quarters of its foreign exchange earnings.
While diamonds will continue to play a central role in the mining sector, Minister Kenewendo emphasized the government’s commitment to expanding the mineral portfolio to include critical minerals. A newly established state-owned exploration company will lead efforts to increase exploration activities.
“In the past, our exploration was heavily focused on diamonds at the expense of other high-value minerals. We are now shifting this approach,” Kenewendo stated during an interview with Reuters at an African mining conference in Cape Town. “Having explored only 30% of our land highlights our previous emphasis on diamonds.”
She further noted, “Investor hesitancy towards exploration stems from the inherent risks, as there is potential for financial loss if no viable resources are found. Our aim is to ensure robust data collection and resource mapping, enabling us to make informed investment decisions.”
Botswana remains the world’s leading diamond producer by value and is also emerging as a key copper-mining destination. Interest in critical minerals—essential for advanced manufacturing—has grown amid the competition between the United States and China for strategic resources such as copper and cobalt.
Minister Kenewendo confirmed that the United States has expressed interest in collaborating with Botswana on exploration and mining, though discussions are still in preliminary stages. “We will monitor how these conversations progress,” she added. “At this stage, we are engaging in broad-based investments within the mineral sector.”
