Botswana’s Updated Mining Law Boosts Local Control, Energy Ministry Says
Botswana’s Updated Mining Law Boosts Local Control, Energy Ministry Says
An amendment to the Mines and Minerals Act of 2024 introduced several enhancements, focusing on better governance and expanding opportunities for citizens within the mining industry, the ministry said in a statement.
Key updates:
🟠Local beneficiation: Mineral concession holders must now process minerals in Botswana, where feasible.
🟠Citizen ownership: The government’s optional stake in mining licenses has increased from 15% to 24%. If it doesn’t take that share, it must be sold to Botswana citizens or citizen-owned companies.
🟠Environmental protection: Mining firms must set up a rehabilitation trust fund or provide a bank guarantee from a Botswana-registered (or minister-approved) bank.
🟠Tougher penalties: Fines and sanctions for illegal mining and non-compliance have been increased.
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