Mining Investment and Governance Review Aims to Improve Botswana’s Mining Sector | WPN World People News

The World Bank Group has released its Mining Investment and Governance Review (MInGov) for Botswana to help the government improve the sector’s performance and to attract further investment.

The review’s key findings indicate:

● Botswana’s mining policy and legal framework are sound;

● Mining sector institutions are for the most part staffed with trained, qualified people;

● Environmental protection legislation is current and in line with international good practice, with the exception of access to Environmental Impact Assessments;

● Land use issues, including resettlement and compensation require a more inclusive process and stronger legislative framework; and

● Local content policy should be developed with mining sector participation.

“As a country we have to continue to strengthen performance and address issues of concern to investors. We need to build an environment that will stimulate more investment in mineral extraction,” said Kgomotso Abi, Permanent Secretary at the Ministry of Mineral Resources, Green Technology and Energy Security.

Mining is critically important for Botswana’s economic development and currently accounts for over 24% of Botswana’s GDP and 89% of its exports. Diamond resources were discovered in Botswana 50 years ago and are credited with rapidly transforming the country from severely impoverished to an upper middle-income success story. The MInGov findings support this remarkable economic development story.

“The Botswana MInGov findings are very encouraging. Mining can be a powerful and effective engine for development. I look forward to seeing more initiatives like MInGov help Botswana seize opportunities to improve its mining sector and achieve its development goals,” said Elene Imnadze, World Bank Country Representative for Botswana.

The complete report for MInGov Botswana can be found here.

The Botswana Mining Investment and Governance Review was made possible by support from the Extractive Industries—Technical Advisory Facility (EI-TAF), the German Development Cooperation, and the Inter-American Development Bank.

Source: World Bank