Window for citizens to buy shares in new mines

Batswana will be able to buy up to 26% in new mining ventures
Batswana will be able to buy up to 26% in new mining ventures

Government is working on plans to open a window, which will allow Batswana to buy up to 26% in new mining ventures as part of efforts to empower citizens in an industry that is largely dominated by imported capital. Due to the huge capital outlays that are required in starting up mining projects, ordinary Batswana’s participation in the industry is currently only limited to buying shares in listed companies.

Deputy permanent secretary in the ministry of minerals, energy and water resources, Nchidzi Mmolawa yesterday told a Stanbic Bank Mining and Metals conference that plans to empower Batswana are part of the changes contained in the review of the Minerals Policy.

 Some of the changes that headline the minerals policy review include an increase in the percentage that government can buy in new mining ventures from the current 15% to 26%.

Editor's Comment
The corrupt must be punished

The findings reveal a disturbing pattern of misconduct and lack of transparency that cannot be ignored.The Tribunal, led by Judge President Justice Kabelo Lebotse, has rightly condemned the Ministry for its eyebrow raising conduct in awarding a P1.8 billion water tender to China Civil Engineering Construction Corporation (Pty) Ltd and Zhong Gan Engineering & Construction Corporation (Pty) Ltd.The award was made despite alleged clear evidence that...

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