Govt buys De Beers out of Morupule Coal Mine

Smith
Smith

Government is taking over full ownership of Morupule Coal Mine (MCM) before transferring the shares in the country’s sole coal miner to the new Minerals Development Company of Botswana (MDCB).

Debswana currently owns MCM with government holding 50% while the remainder belongs to De Beers.

Responding to BusinessWeek enquiries, MDCB CEO Paul Smith said the proposed three-stage transaction involves the unbundling of Debswana’s shareholding in MCM.

Editor's Comment
Batswana need to do better to stop FMD

It is a clear signal that the government’s purse is empty and that our own behaviour has left veterinary officials fighting with one hand tied behind their backs. We have been here before. During COVID-19, many of us thought we knew better. We ignored simple rules, we carried on as if the danger was someone else’s problem, and the virus took lives and left our economy on its knees. We are still broke from that experience. Yet now, with FMD...

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