Botswana to open rare earth mineral, diamond – Business News
MOSCOW — Botswana plans to open an embassy in Moscow quickly and has invited Russian traders to cooperate on rare earths and diamonds, Russia’s TASS state information company quoted Botswana’s international minister as saying on Sunday.
Russia is in search of to strengthen its foothold in Africa amid the broader confrontation with the West.
“We firmly believe that Botswana is the best place for investment, considering its political and economic stability. Therefore, we strongly encourage Russian investors to come to Botswana,” Botswana’s Phenyo Butale was quoted as saying by TASS.
A uncooked diamond displayed at Diamond Trading Company in Gaborone, Botswana on Sept. 16, 2025. AP Photo/Sello Motseta
Diamonds usually contribute round one-third of Botswana’s national revenues and three-quarters of its international exchange receipts.
Russia’s Norilsk Nickel, the world’s largest producer of palladium and high-grade nickel, settled its dispute with the federal government of Botswana and BCL Group in 2021 about a transaction for the sale of Nornickel’s belongings in Africa to BCL Group.
