Botswana Mining Review Comprehensive Coverage of the Progress and Achievements in the Mining Sector
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In a dramatic shift of fortunes, Botswana’s copper exports have surged past the P10 billion mark for the first time in history, providing a significant economic buffer amidst a slump in the diamond sector. Buoyed by robust production from new mines and soaring global prices for the red metal, copper is rapidly emerging as a key pillar of the nation’s revenue streams.
Figures released by the Bank of Botswana (BoB) paint a compelling picture of this economic pivot. Copper exports reached a staggering P7 billion in 2023, a remarkable leap from the P4 billion recorded in the preceding year. This surge underscores the potent combination of favourable international market conditions and the successful commissioning of new mining operations.
Analysis of BoB data, juxtaposed with figures from Statistics Botswana, reveals the extent of this transformation. Prior to the recent boom, Botswana’s copper exports peaked in 2013 at P4.7 billion, representing 28,146 tonnes of concentrate. In stark contrast, the P7 billion earned in 2023 was generated from a substantial 54,808 tonnes.
While copper concentrate production saw a marginal dip to 48,758 tonnes last year, the total value of exports catapulted past the P10 billion threshold, highlighting the significant impact of elevated global copper prices.
Spearheading this copper renaissance are MMG’s Khoemacau Copper Mine and Sandfire Resources’ Motheo Mine, both strategically located on the promising Kalahari Copperbelt. These relatively new entrants to the country’s mining landscape have swiftly become major contributors. Khoemacau commenced production in June 2021, while Motheo was commissioned just last year.
Minerals and Energy Minister, Bogolo Kenewendo, recently provided an upbeat assessment of the nation’s copper output. She highlighted Motheo’s impressive first-year production of 41,000 tonnes of copper and the commencement of production at its A4 pit in December 2024, which is expected to boost copper concentrate production by approximately 50%.
Kenewendo also noted Khoemacau’s significant contribution, with 39,228 tonnes of payable copper produced in concentrate by December 2024. Both mining giants have ambitious expansion plans in the pipeline, signaling a long-term commitment to Botswana’s copper sector. Khoemacau aims to ramp up output to a substantial 130,000 tonnes of copper and five million ounces of silver annually by 2026, with a projected investment of $700 million. Sandfire is actively engaged in extensive exploration across the Kalahari Copperbelt and Okwa Valley, with a substantial annual budget of P135 million, seeking to expand its resource base and extend its mine life beyond the current decade.
Adding to this positive momentum, Kopano Copper (formerly Mowana Mine) is reportedly stabilizing its operations and contributing steadily to the nation’s copper output. Furthermore, Premium Resources, the company spearheading the revival of BCL Ltd, recently secured CA$46 million (P441m) to advance its Selebi-Phikwe project and pursue further exploration activities. Premium Resources acquired the mothballed Selebi and Selebi North shafts and the Selkirk Mine from the government in a P837 million deal two years ago, committing to a P5 billion investment to bring these assets back online. Minister Kenewendo indicated that mine construction for both Selebi and Selkirk is slated for 2026, with production anticipated in the latter half of 2027.
The global appetite for copper, a crucial mineral in the ongoing energy transition, has driven its prices to significant highs in recent years. This demand has attracted major international players, with BHP, the world’s largest mining group, recently announcing plans to invest up to $25 million (P341 million) in a promising project on the Kalahari Copperbelt, seeking a 75% stake.
Botswana’s burgeoning copper sector, fueled by strategic investments and favourable global market dynamics, is proving to be a vital diversification of its economy, offering a powerful counterweight to the challenges facing its traditional diamond industry. The future of Botswana’s mining landscape appears increasingly bright, painted in the rich hues of its increasingly valuable copper reserves.
