World Bank calls for audit of large mining deals

Through various large-scale mining, sales and marketing contracts with De Beers, Botswana earns over 80% of its foreign exchange income and 30% of national revenues from mining, which is primarily diamonds.

Launching a report titled Botswana Mining Investment and Governance Review (MinGov) recently, a consultant with the World Bank Group, Nils Handler said keeping the negotiation process around contracts for diamond mining and large integrated projects confidential and secretive does not aid Botswana’s case for accountability and inclusiveness.