25 Sep 2019

 African countries have been called upon to ensure that natural resources exclusively benefited the masses instead of a enriching a handful of people.

 The call was made by Minister of Mineral Resources, Green Technology and Energy Security Mr Eric Molale when giving a keynote address at the 5th Africa mining summit in Gaborone on September 24.

 Noting that Africa was well-endowed with minerals, the minister said mining companies should ensure that citizens benefitted from mineral revenues.

Minister Molale spoke against exploitation of minerals without making it possible for all to benefit.

He said some African countries had been classified least attractive due to wars associated with minerals.

In Botswana, he said, diamonds were used for development which had resulted in the country reaching middle-income status.

Mr Molale said consensus was reached through the kgotla system that all mineral wealth should be vested in the state to benefit the whole country.

For that reason, he said, Botswana was able to make laws that guided the exploitation of minerals, citing the Mines and Minerals Act.

The minister said the laws also provided key fundamental issues that had to be taken into consideration such as environmental safety, health and related matters.

He said there were laws to ensure the interests of people resident in a mining area were protected.

The minister said that was on its own proof that government of Botswana was not only running to get proceeds but took into consideration other factors.

Mr Molale said the Botswana mining regime was therefore known around the world and had created linkages to derive more value from mining.

He said Botswana had seen positive contribution to the economy saying jobs had been created, skills developed, capital investment realised in terms of building facilities and equipment such as schools and clinics.

Mr Molale pointed out that Botswana was encouraging joint ventures or partnership between government and foreign investors saying that way diamonds would enrich the nation.

He cited Debswana Diamond Company’s 50-50 partnership between government of Botswana and De Beers, which turned 50 this year.

The two-day summit, held under the auspices of the African Union, enables more networking, exhibiting zones platform for mining opportunities in Africa.

The event brings together suppliers looking to sell to mining corporates and mining corporates seeking investment, investors wanting to strike deals and government ministers to engage all groups to discuss new opportunities in their countries.

 In attendance were minister Molales’ counterparts from Ghana, Zimbabwe and Uganda.ENDS