A familiar face raises its hand as economy looks for revival :: Mmegi Online

The statement is sweet news for fiscal authorities both for the budget and for the boost the economy requires to return to a positive trajectory. For more than 40 years, the economy has fought to move away from its reliance on mining, particularly diamonds, with mixed success. With the economy having suffered its worst contraction last year due to COVID-19, mining is emerging as the surprise hero of reviving fortunes for government and jobs. Staff Writer, MBONGENI MGUNI explains

Any week from now, a shiny new mine will be officially opened on the sands of the Kalahari Copperbelt in northwestern Botswana, a $600 million investment that is currently supporting more than 2,300 jobs.

Over its 20-year lifespan, Khoemacau Copper Mine expects to pay the government nearly P3 billion in royalties, an amount that excludes taxes and could rise depending on copper prices, which are currently trending high on global markets.Khoemacau began producing copper concentrate this year, marking the first commercial output from the Kalahari Copperbelt since Boseto Mine closed its doors in 2015. The new mine’s establishment, while expected and planned, underlines the mining sector’s continuing central role in underpinning the country’s economy, ravaged by COVID-19.

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