13 Jun 2024

Botswana remains under-explored despite being endowed with mineral resources, Mineral Development Company Botswana (MDCB), chief executive officer, Mr Matome Malema has said.

Mr Malema said during the Future of Mining Summit in Gaborone on Wednesday, saying only 25 per cent of the landmass in the Eastern flank of the country was well explored and fully mapped compared to the Western part, saying this presented an opportunity for the use of technology to explore potential mineral reserves.

“We have comfort in the sense that the mines currently operating on the Western side of the country in the likes of Khoemachau and Sandvelt are testament of the significant mineral wealth,” he said.

Mr Malema said there were currently close to 34 exploration prospects in the Western part of Botswana with potential copper and nickel deposits. 

Such opportunities, he said included both operating and none operating mines adding that it was thus critical to tap into all opportunities available.

Similarly, he said MDCB recently concluded a position paper advising government on the formation of a mineral exploration company in an effort to expand the country’s exploration.

He indicated that it was satisfactory that the exploration budget for copper, nickel and manganese was fairly high.

Mr Malema said the exploration of iron ore deposits, coal and limestone presented an opportunity to transform Botswana into a steel producing country due to the synergistic effects of such mineral resources can produce a viable steel industry.

Furthermore, when presenting MDCB mandate, Mr Malema explained that MDCB was an investment company that held and managed government’s mining and minerals assets.

Established as a commercial entity, Mr Malema said the company was mandated and well positioned to grow, optimise and diversify its mining and minerals portfolio as well as facilitate development of the local mining and minerals sector.

He said the company’s vision was to be a globally competitive investment company, contributing to Botswana’s financial security through generation of attractive returns from a resilient mining and minerals investment portfolio by being an active, innovative and responsible shareholder.

Mr Malema stated that opportunities for investment existed across the whole mining value chain that included beneficiation of minerals as well as participation in related ancillary services.ENDS