Botswana plans massive exploration push to diversify mining sector

The Government of Botswana BW announced on February 10, 2026, a comprehensive plan to expand mining exploration beyond its traditional diamond base. As part of this strategy, the authorities have introduced the newly launched state-owned exploration company tasked with raising exploration levels and systematically surveying the roughly 70% of the country's territory that remains unexplored. This initiative marks a significant shift in the national approach to resource management and economic development.

The decision to ramp up exploration activity comes at a time when the diamond industry is navigating a prolonged downturn in the global diamond market. Currently, diamonds are the cornerstone of the national economy, accounting for approximately one-third of national revenue and roughly three-quarters of its foreign exchange. By establishing the new state-owned entity, the government aims to reduce this heavy reliance and build a more resilient economic framework.