Ray of light beams for gold mining in the North

Lewanika Timothy | Tuesday July 7, 2026 14:34

Following a protracted legal battle that culminated in the approval of the mine's acquisition by Turkish precious metals group AgaOne Commodities, in partnership with citizen-owned Nova Africa, a glimmer of hope has begun to emerge for the country’s gold commodity prospects and the northern economy.

Leading the charge is AgaOne Commodities chairman, Gokhan Yilmaz, whose ambitions for Mupane extend far beyond restarting gold production.

In an interview, Yilmaz outlines an ambitious vision to transform Botswana from a producer of raw gold into a regional hub for precious metals refining, fabrication, trading and value addition.

Mmegi: You recently acquired Mupane Gold mine asserts after a protracted legal battle. What is your long-term vision for Mupane and Botswana’s mining sector?

Yilmaz: Our vision goes beyond mining in the literal sense. We don’t see Mupane simply as a gold deposit to extract and exit; we see it as the entry point to building an integrated “mine-to-market” precious-metals ecosystem in Botswana.

AgaOne is active across the entire value chain from mining, refining, fabrication and minting, trading, and even regulated digital gold. Our long-term ambition is to bring more of that chain into Botswana, so that Botswana’s gold is not just dug up and shipped out as raw ore, but refined, certified, fabricated into value-added investment products and jewellery, and traded to international standards from here.

For the sector, that means new skills, new downstream industries, and a model that supports the National Vision 2036 goal of diversifying the economy beyond diamonds. Mupane is the first step; the destination is Botswana recognised as a precious-metals hub for the region.

Mmegi: What is the primary purpose of your visit to Botswana, and which key stakeholders have you engaged with during your stay?

Yilmaz: The primary purpose of this visit is to advance the Mupane acquisition and to engage directly with the people and institutions who matter to it. We are acquiring the mine through our joint venture with Nova Africa, a citizen-owned company, and we are working closely with the liquidator to take the process forward in an orderly way.

Beyond that, it is just as important to listen. We have been engaging with the liquidator, national and local authorities, local business leaders and citizen-owned companies, and importantly former Mupane employees and the communities around the mine.

This project only succeeds if it is built with Botswana, not just in Botswana. So these conversations are not a formality for us; they shape how we restart the mine. Mmegi: When can Batswana realistically expect mining operations at Mupane to resume, and what milestones must be achieved before production begins?

Yilmaz: We are targeting a restart around the middle of 2027 though I should stress that any timeline is subject to regulatory approvals and the completion of due diligence. Mupane has a real advantage here: it is a brownfield operation, not a greenfield one. The licenses, the processing plant and the core infrastructure already exist, which significantly reduces development risk and shortens the path back to production.

Before we pour gold again, a clear sequence of milestones has to be met: completing our due diligence; finalising the transfer of the mining license and securing the necessary regulatory approvals; refurbishing and recommissioning the processing plant; and rebuilding the workforce and local supply chain.

We will not compromise on safety or compliance to hit a date, and the timeline naturally depends on securing the necessary approvals but mid-2027 is the realistic target we are working toward.

Mmegi: How much investment is AgaOne Commodities committing to reviving Mupane Gold Mine, and what impact do you expect this to have on the local economy?

Yilmaz: We will confirm a precise figure once due diligence is complete that is the responsible way to do it. What I can tell you is that AgaOne has the financial strength and the track record to see this through: a group with over USD2.5 billion in annual turnover and more than 25 years in precious metals.

Our commitment to Mupane will be phased and substantial capital to restart and modernise the mine, working capital for operations, and investment in the downstream, including refining, value-addition and skills, that keeps more value inside Botswana.

Let me give a concrete example. Rather than exporting raw ore, we intend to refine and produce value-added investment gold a finished, qualified product rather than raw material. That keeps more of the value, and the jobs that come with it, inside Botswana.

So the economic impact is far bigger than the mine’s payroll. It is the suppliers, the citizen-owned contractors, the training, and the margin we capture in-country instead of exporting raw ore. That multiplier effect is the whole point of “Beyond Mining.”

Mmegi: Employment remains a major concern for former Mupane workers and surrounding communities. What message do you have for them, and how many jobs do you expect the project to create?

Yilmaz: We know the closure was hard and that there has been real uncertainty. Our intention is to bring this mine back to life and to prioritise local people in doing so.

That means rehiring experienced former Mupane employees wherever we can, hiring and training from the surrounding communities, and supporting local SMEs and citizen-owned suppliers. We will confirm specific employment numbers as our restart planning firms up - I would rather give a real number than a press-conference number.

But the direction is clear: local jobs, local skills and local businesses backed by a Technical Training Centre, a Mining Academy and a Women Up programme, so the opportunities outlast the mine itself.

We also intend to draw on AgaOne’s roots in Türkiye, one of the world’s top three jewellery exporters, to establish a jewellery, coin design and production academy in Botswana. That develops local talent and creates skilled jobs in design, minting and fabrication, well beyond traditional mining roles.

Mmegi: Please share the “Beyond Mining” story and plans to set up a refinery?

Yilmaz: Along the way we have learned that the lasting value in gold is not only in the ground but rather in everything that happens after extraction. So when we look at Mupane, we don’t just see ounces. We see the chance to build that whole journey, from resource to global market, here in Botswana and with Batswana.

That is the inspiring part for us: not extracting wealth and leaving, but creating an ecosystem that keeps creating value long after. Beyond Mining means building Botswana’s future, not just mining its resources.

Mmegi: How do you intend to work with the Botswana government, local businesses and citizen-owned companies to ensure the mine delivers lasting value to the country?

Yilmaz: Partnership is built into how we are structured. AgaNova is a joint venture with our Botswana partner, Nova Africa, a citizen-owned company, so Botswana participation sits inside the operating company itself.

We are working closely with the Government of Botswana, and we want our plan to advance the National Vision 2036 diversification agenda directly. With local businesses and citizen-owned companies, the commitment is practical: local procurement, supplier-development programmes, contracts for citizen-owned firms, and skills transfer, so Batswana companies can climb the value chain with us into refining, services and beyond.

Lasting value also means infrastructure that outlives the mine energy, water and logistics and people who carry these skills into the next chapter of the economy.

Mmegi: What distinguishes AgaOne Commodities from previous owners of Mupane, and why should Batswana be confident that this chapter will be different?

Yilmaz: Two things make this different. First, capability and intent. Previous owners ran Mupane as a standalone mine. AgaOne is a fully integrated precious-metals group. We refine, we mint, we trade, we run a digital-gold platform so for us Mupane is not the end product, it is the start of a value chain we can extend into Botswana. That changes both the economics and the ambition.

Second, partnership and standards. We are here in joint venture with a Botswana partner, Nova Africa, and committed to internationally recognised responsible-sourcing standards with a RJC certification and full chain-of-custody traceability.

So Batswana can be confident this chapter is different because the model is different: not extract-and-exit, but build-and-stay to international standards, with Botswana as a partner.

Mmegi: Environmental, Social and Governance (ESG) issues are increasingly important in mining. What commitments is AgaOne making to responsible mining and environmental stewardship at Mupane?

Yilmaz: For us, ESG is not a bolt-on; it is how a modern precious-metals business earns its licence to operate and to sell. On governance and sourcing, we operate to internationally recognised standards. Our Aleks Metal refinery is one of a select number of gold refineries worldwide certified to the Responsible Jewellery Council (RJC) Chain-of-Custody standard, with full traceability so that every gram can be traced and verified.

That certification also opens a much bigger opportunity for the country. As one of the world’s largest diamond exporters, Botswana is exceptionally well placed to move into jewellery manufacturing and a Chain-of-Custody-certified gold supply chain on home soil is a natural foundation for it. Responsible, traceable gold is not only good stewardship; it is the platform for a higher-value jewellery industry that pairs Botswana’s diamonds with Botswana’s gold.

On the environment, our plan for Mupane includes low-carbon operations and renewable-energy integration, water reuse, and progressive land rehabilitation and restoration of landscapes as we go not only at the end of mine life. On the social side, the Technical Training Center, the Mining Academy, the Women Up programme and university industry partnerships ensure the benefits are shared and the skills stay in Botswana.

Responsible mining is also good business: traceable, certified Botswana gold is worth more in the international markets we serve.

Mmegi: Finally, what message would you like to share with Batswana about AgaOne Commodities’ commitment to Botswana and your vision for the future of Mupane Gold Mine?

Yilmaz: My message is one of commitment and partnership. We chose Botswana for its stability, its mining heritage and its clear national vision and we are here for the long term, not to take gold out of the ground and leave.

Our vision for Mupane is to bring it back to life as the entry point to a full “mine-to-market” gold ecosystem in Botswana refined here, certified here, and traded to the world from here creating jobs, skills, infrastructure and new industries along the way.

That is what “Beyond Mining: Building Botswana’s Future” means to us. We are proud to take this journey with Botswana, and we are determined to make this chapter one the whole country can be proud of.