Botswana and Oman Sign Energy and Mineral Exploration Deals
Botswana and Oman signed agreements for mineral exploration and a 500-megawatt solar plant. The deals aim to diversify Botswana's economy beyond diamond mining.
Botswana has finalized several significant economic agreements with Oman to collaborate on mineral exploration, renewable energy projects, and oil storage infrastructure. The partnership was cemented during a three-day state visit by President Duma Boko to the Gulf nation, where he met with Sultan Haitham bin Tariq to discuss diversifying the southern African nation's economy.
The agreements include a joint venture for mineral exploration that will target approximately 70% of Botswana's land area, much of which remains unexplored. The initiative aims to reduce the country's dependence on diamond revenues, which typically account for one-third of national income but have been impacted by global economic shifts and the rise of lab-grown stones. The exploration efforts will focus on high-value resources such as Copper, Gold, graphite, and iron ore.
