Botswana Shifts From Diamonds as Oman Deal Targets Critical Minerals | Firstpost Africa | N18G
Botswana, long dependent on diamonds for revenue and foreign exchange, is now pivoting towards a new economic model as global demand weakens and prices come under pressure. A growing stockpile and the rise of cheaper lab-grown alternatives have exposed the limits of its diamond-led strategy. In response, Gaborone has signed a series of agreements with Oman, focusing on solar energy, oil storage and large-scale mineral exploration. The move signals a shift towards critical minerals such as lithium, copper, and cobalt. While the strategy offers long-term potential, it also carries risks as Botswana transitions into a volatile, and highly competitive global commodities market.---
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