Minister of Minerals and Energy, Hon Bogolo Kenewendo has outlined a roadmap to transform Botswana from a diamond-dependent economy into a globally competitive mining destination driven by exploration, beneficiation and increased citizen participation.
Delivering the mining industry outlook remarks at The Future of Mining Summit 2026, held under the theme “Mining for Transformation: Economic Diversification and Shared Prosperity,” Kenewendo said government’s strategy is anchored on the Mineral Resources Development, Exploration, Exploitation and Value Chain Strategy.
The strategy seeks to strengthen investment, accelerate mineral exploration, deepen beneficiation and expand citizen participation across the mining economy. Kenewendo said while diamonds remain central to Botswana’s economic development, the country’s long-term prosperity will depend on creating new mineral industries and extracting greater value from its natural resources.
“This year is particularly significant as Botswana celebrates 60 years of diamond leadership alongside the Diamond Jubilee of our independence,” Kenewendo said.
“Our story is a remarkable one. Few nations have transformed natural resources into broad-based development as successfully as Botswana has. For six decades, diamonds have financed infrastructure, created opportunities and helped build dreams. But our success has never only been about diamonds; it has been about governance, partnership and discipline.”
She said Botswana is now at a critical stage where it must redefine the role of mining in the economy.
“The question before us now is what Botswana will do next. The future must be a diversified mining sector supporting a diversified economy.”
Kenewendo said global mining is undergoing significant structural changes driven by the energy transition, technological advancement, rising demand for critical minerals and changing consumer preferences. She said geopolitical competition for strategic minerals is also intensifying, creating opportunities for countries with mineral resources to attract investment and participate in emerging supply chains.
Rather than viewing these changes as threats, Botswana intends to benefit from new opportunities created by shifting global demand patterns. Although the diamond industry has experienced one of its most challenging periods in recent decades, Kenewendo said there are positive signs of recovery, with demand gradually improving in key markets such as the United States and China.
She said supply discipline within the industry is also contributing to renewed confidence. However, she argued that the biggest challenge facing natural diamonds is no longer production but consumer perception.
“The defining challenge facing natural diamonds is not supply; it is perception. Consumers must understand what makes our diamonds unique. No laboratory can recreate our story.”
Kenewendo said Botswana has intensified efforts to strengthen its diamond brand internationally through initiatives including hosting the World Federation of Diamond Bourses Presidents’ Meeting, joining the federation after six decades, participating at the JCK jewellery exhibition in the United States and promoting the House of Botswana brand.
“We continue creating products that consumers are responding to. Botswana’s story of excellence, resilience and authenticity is inseparable from the diamonds we produce.”
She said the future of the diamond industry will depend on moving beyond extraction and increasing Botswana’s involvement in downstream activities such as jewellery manufacturing.
“The future of our diamond industry will ultimately be determined not simply by what we extract, but by what we create.”
A key component of government’s mining strategy is increasing investment in mineral exploration beyond diamonds. Kenewendo acknowledged that Botswana has significant geological potential but said exploration has historically received insufficient investment despite being the foundation for future mine development.
She said exploration remains one of the most capital-intensive and high-risk stages of the mining value chain, with companies often spending millions of pula without any guarantee of discovering commercially viable deposits. To address this challenge, government has set a target of increasing annual non-diamond mineral exploration expenditure to P150 million by 2029.
“We want Botswana to become a world-class exploration destination,” Kenewendo said.
Government plans to expand geological mapping programmes, modernise mineral databases, improve access to geological information and introduce de-risking mechanisms aimed at attracting exploration companies. To support exploration activity, government has established the Exploration Investment Company Botswana (EICB), a state-owned entity tasked with unlocking the country’s unexplored mineral potential.
The company is expected to work alongside private exploration firms by helping identify opportunities and sharing risks during early-stage mineral discovery. Kenewendo also highlighted regulatory reforms introduced through the Mines and Minerals Act, which came into effect on 1 October last year, saying the legislation provides the foundation for government’s new mining vision.
The Act introduces local beneficiation requirements aimed at ensuring more minerals are processed domestically before export, creating jobs, industrial capacity and downstream industries. It also provides for mandatory citizen ownership and equity participation of up to 24 percent in qualifying mining projects, while strengthening preferential procurement provisions for citizen-owned businesses.
Environmental rehabilitation requirements have also been enhanced through mandatory financial guarantees requiring mining companies to provide for mine closure and restoration obligations.
Government has increased penalties for non-compliance to discourage speculative licence holding and ensure mineral rights are granted to investors committed to actual project development.
Kenewendo said government is finalising new Mines and Minerals Regulations that will provide detailed implementation mechanisms for the Act. A major reform under the regulations will be the introduction of minimum beneficiation requirements across different mineral categories, reinforcing government’s ambition to move Botswana further up the mining value chain.
