Botswana government says it is set to increase its stake in De Beers as the leading diamond producer moves to cement status and have greater influence in the industry. In a recent public address, President Duma Boko confirmed his country is doubling shareholding in the diamond major and had picked Global Diamond Consortium as its preferred bidder for Anglo American’s interest in De Beers. Delivering his third State of the Nation Address recently, Boko added the investment in De Beers is not just an investment in natural diamonds it is in technology. “Measured against these principles, the government has selected…
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NexMetals Mining Corp says it nearly tripled the Selebi North Indicated Mineral Resources while also increasing Inferred Mineral Resources as part of drilling programme in the area. According to the company’s updated Mineral Resource Estimate for Selebi North, its indicated mineral resources rose to 8.95 million tonnes grading 1.03% copper and 1.08% nickel, from 3.00 million tonnes grading 0.90% copper and 0.98% nickel in 2024. The inferred mineral resources on the other hand increased 63% to 9.48 million tonnes grading 1.21% copper and 1.13% nickel, from 5.83 million tonnes grading 0.90% copper and 1.07% nickel in 2024. NexMetals added the significant resource…
De Beers Group says it has transferred its initial contribution of P 1 billion (about $73 million) to the Diamond for Development Fund, marking a major milestone in the progress of the Fund and its mandate to support Botswana’s long-term economic diversification. According to the company, the disbursement follows the establishment of the Fund’s governance structures, including the appointment of Dr Akinwumi Adesina as the Chairperson as well as the appointment and onboarding of the 10-person independent board. The Diamonds for Development Fund was established through the longstanding partnership between the Botswana government and De Beers Group to support the…
De Beers says production in the third quarter of the year fell as a result of maintenance disruptions at its key operations under its portfolio. According to diamond mining major’s Production Report for the third quarter of 2026, rough diamond production was 11% lower at 6.8 million carats. It said the decline was primarily driven by planned plant maintenance at Orapa in Botswana and a slowdown at Venetia in South Africa ahead of a planned two-year production pause. “In Botswana, production decreased to 4.8 million carats, as a result of the planned plant maintenance at Orapa. Planned plant maintenance at…
MMG Limited (MMG), the owners of Khoemacau mine in Botswana, says it maintained stable production during the third quarter of 2026. According to the company, total copper production increased 3% year-on-year, supported by higher production from Khoemacau and Kinsevere, while total zinc production decreased 5% year-on-year. Record quarterly silver production at Dugald River and strong silver production across the portfolio provided significant by-product credits, supporting strong C1 cost performance. Total copper production, including copper in concentrate and cathode, was 131,215 tonnes, underpinned by a solid contribution from Las Bambas, which produced 100,289 tonnes of copper in concentrate. Khoemacau delivered 11,242…
The partnership between De Beers and Olympic champion and Botswana sporting icon, Letsile Tebogo which was launched last year, has been extended. Originally launched in January 2025, when Tebogo was appointed a De Beers Global Ambassador, the partnership has now been expanded into a three-year programme. According to Botswana government and De Beers, the extension will help shine a light on the progress Botswana has achieved through diamonds as the nation celebrates its ‘diamond’ anniversary of 60 years since independence. Building on the success of the initial partnership, the relationship will be anchored in a global storytelling platform themed “The…
NexMetals Mining Corp, the Nasdaq listed exploration company, has released an updated Mineral Resource Estimate for Selebi Main (the “2026 Selebi Main MRE”), one of the deposits at its past-producing Selebi copper-nickel-cobalt mine in Botswana. In the new update, the company stated that the 2026 Selebi Main MRE increases total Mineral Resource tonnage by approximately 72% compared with the Selebi Main portion of the Company’s 2024 Mineral Resource Estimate. NexMetals said the 2026 Selebi Main MRE increased to 32.47 million tonnes, grading 1.53% copper and 0.97% nickel compared with 18.89 million tonnes grading 1.69% copper and 0.88% nickel in the 2024 MRE. There…
Moody’s Ratings (Moody’s) says it has downgraded Botswana’s domestic- and foreign-currency long-term issuer ratings to Baa2 from Baa1 while the outlook was changed to stable from negative. The ratings body said the downgrade to Baa2 reflects the expected deterioration in the country’s public finances. According to Moody’s, the downgrade to Baa2 also shows a weakening of Botswana’s fiscal resilience with financial buffers largely exhausted and large fiscal deficits expected to persist. The agency also observed that the decline in diamond-related revenue is likely to contribute to a continued increase in debt despite the ongoing policy response. It bemoaned that reliance…
The Kavango-Zambezi Transfrontier Conservation Area (KAZA TFCA) Member States, #Angola, #Botswana, #Namibia, and #Zambia, together with stakeholders from the forestry sector, have launched the project to operationalise the KAZA Forestry Strategy Project. The launch took place during the meeting in Livingstone, Zambia, from 22 – 24 September 2026. Supported by the Southern African Development Community Transfrontier Conservation Area (SADC TFCA) Financing Facility, this is the first project under the Facility dedicated to forestry conservation and management. The Forestry Strategy aims to strengthen forest governance, support sustainable livelihoods, and enhance benefits for communities across the Kavango-Zambezi Transfrontier Conservation Area (KAZA TFCA),…
The National Geographic Society and De Beers Group have announced the renewal of the Okavango Eternal partnership for an additional five years, reaffirming their commitment to the long-term protection of the Okavango River Basin and to conservation-related livelihood opportunities for the people who live there and help steward it. One of Africa’s most vital wetland ecosystems, the Basin provides food, water and livelihoods for more than one million people and sustains one of the world’s largest elephant populations, while its Angolan headwaters feed other major river systems across the continent. Today’s announcement follows an event held in New York last…