Giyani Metals' definitive feasibility study for the K.Hill project puts initial capital at $535m and after-tax NPV at $481.5m, positioning Botswana to host its first manganese mine and a battery-materials supply chain.
Lucara Diamond recovered a 36.92-carat Type IIb blue diamond from stockpiled ore at its Karowe mine in Botswana, only the second such find since operations began.
S&P cut Botswana's credit rating to BBB- from BBB, warning that structural weakness in the diamond market would weigh on the economy for longer than previously expected.
Lucara Diamond's 2025 revenue fell 22% to $159.7m and profit dropped 35% to $26.1m, as a shortage of very large stones offset resilient prices at Botswana's Karowe mine.
Canadian explorer Tsodilo Resources says drilling at its Gcwihaba project in north-west Botswana has confirmed all 15 rare earth elements on the US critical minerals list, close to surface.
Botswana's state-owned Okavango Diamond Company is increasing sales to contracted buyers to steady revenue as the rough diamond market stays depressed.
DiamondsDe BeersThe diamond miner and marketer founded by Cecil Rhodes in 1888, now owned 85% by Anglo American and 15% by the government of Botswana. After years of weak demand and competition from lab-grown stones, Anglo is running a sale process for the business. It remains the world's leading diamond producer by value through its southern African joint ventures.
DiamondsDebswanaA 50:50 joint venture between the government of Botswana and De Beers, formed in 1969, and the world's leading diamond producer by value. Diamonds account for roughly a third of Botswana's fiscal revenue, so Debswana's output decisions carry national economic weight.ASX: SFRCopperSandfire ResourcesAustralian copper miner founded in 2003 that rose to prominence through the DeGrussa copper-gold discovery in Western Australia. It later expanded internationally, including into Botswana, and is listed on the ASX.
