The rule is a change to the Mines and Minerals Act which previously gave the state the right to buy a 15% shareholding in any mining concession.<\/p>\n
Now companies are required to sell a 24% stake in new concessions to local investors if the government chooses not to buy.<\/p>\n
The mines and energy ministry said the rule had taken effect on October 1.<\/p>\n
Botswana, the world’s top diamond producer by value is keen to increase local ownership of its mineral wealth and to promote local value addition.<\/p>\n
With earnings from diamond sales hurt by weak demand and synthetic stones, the southern African country has struggled to finance its budget.<\/p>\n
Revenues fell 50% in 2024. The IMF projects that Botswana’s economy will contract for a second year in a row.<\/p>\n
GDP is expected to fall by 0.4% in 2025, after shrinking by 3% in 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"
The rule is a change to the Mines and Minerals Act which previously gave the state the right to buy a 15% shareholding in any mining concession. Now companies are required to sell a 24% stake in new concessions to local investors if the government chooses not to buy. The mines and energy ministry said […]<\/p>\n","protected":false},"author":6,"featured_media":18174,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":3,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Africa News","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[32,2362,30],"tags":[212,1163,4511],"class_list":["post-18173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-featured","category-southern-africa","tag-botswana","tag-international-monetary-fund-imf","tag-mines-and-minerals-act"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/18173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=18173"}],"version-history":[{"count":0,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/18173\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/18174"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=18173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=18173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=18173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}