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Botswana: Conference to Showcase Projects in Resources Sector
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Mmegi/The Reporter (Gaborone)
31 March 2008
Posted to the web 31 March 2008
Brindaveni Naidoo
The fifth Botswana resource sector conference is to be held this year, and is aimed at enhancing foreign investment in Botswana's resources sector and to showcase projects at all stages of development, says subsidiary company of the Capital Group, Capital Corporate Finance CEO Dawn Pickering.
"Foreign companies recognise that Botswana is a low-risk, stable economic environment, in which to base their operations, with security and transparency in the legal and regulatory framework. Mining is usually a labour-intensive sector and it is extremely important to encourage it in Botswana, where unemployment is a challenge, and where skills transfer is so vitally important," adds Pickering.
Pickering tells Mining Weekly that Botswana has seen increased interest from foreign mining and exploration companies in recent years, which helps the government's stated aim of diversification away from diamonds, the economic mainstay.
Botswana has been rated as one of the fastest-growing economies since attaining independence from Britain in 1966, and is considered to have one of Africa's strongest currencies. However, Pickering points out that two major challenges facing the country, as in South Africa, are the power and skills shortages.
Commenting on investment in the country, Pickering says that there have been significant investments in the country, including that by Toronto-listed CIC Energy Corp, which is developing the Mmamabula energy project. Nickel producer Norilsk Nickel's development of its Activox project, near Selebi-Phikwe, and base-metals explorer African Copper's development of the first copper mine in Botswana, are also major recent investments.
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The conference is to take place from July 23 to July 24 and is to feature high-impact presentations and updates from many of the resource companies operating in Botswana, key government departments and utility and other service providers.
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