Mineral revenues jump 63% as diamonds recover

Kebonang
Kebonang

The mining industry recorded an increase in mineral revenue by 63% in 2016 as compared to 2015 largely due to a rebound in diamond sales.

Mineral Resources, Green Technology and Energy Security minister, Sadique Kebonang said this when presenting his Committee of Supply speech to Parliament this week.

He noted that the mining industry experienced a global commodity price turndown over most of the first two quarters of 2016, mainly in the base metals and energy minerals.

Editor's Comment
Botswana at a critical juncture

While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...

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