Camilla Jessen
African nation opens door to Russian rare earth investment.
Botswana has announced plans to open an embassy in Moscow and is encouraging Russian companies to invest in its rare earth minerals and diamond sector.
The announcement was made by Botswana’s Foreign Minister, Phenyo Butale, and reported by Russia’s state news agency TASS.
Expanding ties with Russia
Butale said Botswana intends to strengthen diplomatic and economic cooperation with Russia at a time when Moscow is increasing its engagement across Africa.
“We strongly believe that Botswana is one of the best places for investment, given its political and economic stability,” he said. “That is why we strongly encourage Russian investors to come to Botswana.”
Diamonds are a cornerstone of Botswana’s economy.
They typically account for around a third of government revenue and roughly three-quarters of export earnings.
By inviting Russian investment into both diamonds and rare earth minerals, the government is seeking to diversify its foreign partnerships and attract new sources of capital. Rare earths are considered strategically important due to their use in advanced technologies.
Existing economic links
Russia already has some history of business involvement in Botswana.
In 2021, Russian mining giant Norilsk Nickel reached a settlement with the Botswana government and the BCL Group over the sale of mining assets.
Norilsk Nickel is the world’s largest producer of palladium and a major supplier of high-grade nickel, both critical materials for global industries.
Sources: TASS; Digi24
