Botswana is backing the Future of Mining agenda with a sharper exploration push, higher spending targets and a plan to build a stronger pipeline beyond diamonds.
BONGANI MALUNGA
Botswana is sharpening its bid to become one of the world’s leading mining exploration destinations, with government committing new resources to unlock discoveries beyond diamonds and secure the country’s next generation of mineral wealth.
Addressing delegates at the Future of Mining Summit in Gaborone on Monday, Minister of Minerals and Energy Bogolo Kenewendo outlined a strategy aimed at building a sustainable pipeline of mining projects, anchored on aggressive investment in exploration and improved geological intelligence.
At the centre of the plan is government’s intention to increase non-diamond exploration expenditure to P150 million by 2029, a move designed to widen Botswana’s mineral base and reduce long-standing dependence on diamonds.
EXPLORATION PUSH
The renewed focus comes as Botswana seeks to diversify its mineral portfolio amid fluctuating global diamond demand, with government identifying exploration as the critical first step in creating long-term mining opportunities and attracting fresh investment.
“We are working to increase investment in exploration, this is not just an ambition, it is something that we are actively working on. A strong mining sector depends on a robust pipeline of discoveries and bankable projects. Yet exploration remains one of the most capital intensive and high risk stages of the value chain. We haven’t invested as we needed to in this space,” Kenewendo declared.
Her remarks underscore growing recognition within government that without sustained exploration activity, future mining growth could be constrained by a shortage of new commercially viable projects.
INVESTMENT SITES
To address this challenge, government is leveraging the Exploration Investment Company of Botswana (EICB) to identify and package prospective sites that can attract both local and international investors. The initiative is expected to lower barriers to entry and give companies greater confidence to venture into early-stage exploration activities.
Kenewendo stated that in order to stimulate more investment, government has, through the Exploration Investment Company of Botswana, identified various sites that will be used to attract and stimulate investment in those spaces.
DE-RISKING PROJECTS
The strategy also places considerable emphasis on improving access to geological information, a factor widely regarded as essential in reducing exploration risks and improving investment decisions. “We are placing renewed emphasis on strengthening exploration, improving access to geological data, enhancing resource mapping and creating mechanisms that attract and de-risk investment into early stage projects. By so doing, we aim to unlock underexplored mineral potential and build a sustainable pipeline of future mining developments,” she added.
According to Kenewendo’s submission, the programme could mark a significant shift in Botswana’s mining trajectory, positioning the country not merely as a leading diamond producer but as a diversified and globally competitive hub for mineral exploration and future resource development.