Funders rally around Botswana's coal dreams

On the trail: Moagi says investors are interested in local coal PIC: MORERI SEJAKGOMO
On the trail: Moagi says investors are interested in local coal PIC: MORERI SEJAKGOMO

Mineral Resources, Green Technology and Energy Security minister, Lefoko Moagi says contact has been made with funders and other wealthy investors who are potentially interested in helping Botswana exploit its estimated 200 billion tonnes of coal.

The minister told BusinessWeek bankers at the Mining Indaba, which ended last week in Cape Town, had responded well to Botswana’s plans for its mammoth coal resources.

Worldwide, major project funders such as the World Bank, International Monetary Fund, African Development Bank as well as numerous large commercial banks have cut back or stopped financing new coal projects in line with global commitments on reducing carbon emissions.

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