Funders rally around Botswana's coal dreams

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.

Editor's Comment
Get back what was stolen, and lock the door

That a single private law firm pocketed P6.5 million for just four cases, out of a total P11.1 million paid for 25 matters, reeks of a system that was not merely disorganised but open to abuse.Bayford has taken a welcome first step by telling the Public Accounts Committee the truth. Now he must act decisively to ensure it never happens again and that any money lost to wrongdoing is recovered.The figures are staggering. Whilst ordinary Batswana...

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