Botswana pitches diamonds and rare earths to Russia
Diamonds and critical minerals at the centre of Botswana’s investment push
Botswana is moving to strengthen its diplomatic and economic ties with Russia, unveiling plans to open an embassy in Moscow, and calling on Russian investors to partner in its diamond and rare earth minerals sectors.
The announcement was made by Botswana’s Minister of International Relations, Phenyo Butale, who emphasised the country’s readiness for foreign investment and its commitment to long-term international cooperation.
Speaking to Russia’s TASS news agency, Butale highlighted Botswana’s stability as a major drawcard for investors.
“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,” he said.
The proposed embassy in Moscow is expected to boost diplomatic engagement and create new channels for trade and investment discussions between the two countries.
It also comes at a time when Russia is actively expanding its economic and political influence across Africa, seeking closer ties with resource-rich nations.
Mining remains the backbone of Botswana’s economy, with diamonds playing a particularly vital role.
The gemstone industry contributes roughly one-third of the country’s national revenue and accounts for about three-quarters of its foreign exchange earnings.
By opening its doors to Russian investors, Botswana is looking to diversify partnerships while maximising the value of its mineral wealth, including strategically important rare earth elements.
There is already a history of cooperation between Botswana and major Russian companies. In 2021, Russian mining giant Norilsk Nickel, the world’s largest producer of palladium and high-grade nickel, resolved a long-standing dispute with the Botswana government and BCL Group over the sale of its African assets.
The settlement helped ease tensions and paved the way for renewed engagement.
Botswana’s outreach signals confidence in its economic environment and a desire to attract global players who can contribute to sustainable growth.
With diplomatic representation in Moscow on the horizon, the country appears poised to usher in a new era of collaboration with Russia, anchored in minerals, investment, and mutual economic interests.
