Botswana mandates 24% local stake in new mining concessions

Group 1 - Botswana has introduced a regulation requiring mining companies to sell a 24% stake in new concessions to local investors if the government opts not to purchase it, effective from October 1 [1] - The legislation aims to increase local ownership in mineral wealth and encourages local value-added initiatives, mandating funds for environmental rehabilitation [2] - The former mines minister suggested that local investors could acquire stakes in concessions with support from domestic pension funds, which are required to reduce offshore investments from 65% to 50% over three years [3] Group 2 - The government holds equity stakes in various mining entities, including 100% in Morupule Coal Mine and 50% in Debswana Diamond Company, and is negotiating to acquire a majority stake in De Beers [4] - Botswana aims to increase its stake in De Beers from 15% to over 50%, with ongoing discussions involving partners such as Oman's sovereign wealth fund to fund the acquisition [5]