Russia, invited by an African country to exploit its resources. At stake is access to diamonds and rare ores
Diamonds Photo: Mike Chinery / Alamy / Profimedia
Botswana intends to soon open an embassy in Moscow and aims to deepen economic cooperation with Russia, including in the field of rare minerals and diamonds, said the Minister of Foreign Affairs of Botswana, Phenyo Butale, informs the Russian state agency TASS, taken over by News.ro.
The initiative comes in the context in which Russia tries to consolidate its presence in Africa, against the background of the wider geopolitical confrontation with the West.
“We strongly believe that Botswana is one of the best places for investment, given its political and economic stability. That is why we strongly encourage Russian investors to come to Botswana,” Butale said, according to TASS.
Diamonds are a central pillar of Botswana's economy, traditionally contributing about a third to the state's budget revenues and about three quarters to export receipts. The openness to Russian investments in this sector, but also in the exploitation of rare minerals, reflects the desire of the Gaborone government to diversify external partnerships and sources of capital.
Russia already has previous economic ties with Botswana. Russia's Norilsk Nickel, the world's largest palladium producer and a major player in the high-grade nickel market, in 2021 settled a dispute with the government of Botswana and BCL Group over the sale of some of its assets in Africa.
The plan to open an embassy in Moscow marks a significant diplomatic step for Botswana and signals a possible expansion of bilateral cooperation at a time when global competition for strategic resources such as rare earths is intensifying.
