3 October 2026
- NexMetals raised Selebi’s mineral resources by 72%, adding to progress across Botswana’s copper, nickel and cobalt projects.
- Manganese and rare earth projects are widening the country’s critical-minerals pipeline while its diamond-dependent economy faces persistent pressure.
- Botswana’s next test is to turn growing mineral resources and investor interest into commercially viable mines and large-scale production.
Canadian miner NexMetals Mining announced on 1 October a 72% increase in mineral resources at its Selebi copper-nickel project in Botswana, with cobalt now also included in the identified potential. The update adds to recent progress across a mining industry historically dominated by diamonds but increasingly positioning itself in Africa’s critical-minerals race alongside countries such as the Democratic Republic of Congo, Tanzania and Zambia.
The updated estimate identifies resources containing 495,400 metric tons of copper and 316,800 tons of nickel, a 72% increase from the 2024 estimate. NexMetals reached a similar milestone in June at Selkirk, its other flagship project in Botswana. The company reported a 70% increase in the mineral potential defined at the site, with resources that also include copper, nickel and cobalt.
Botswana’s critical-minerals pipeline, however, extends beyond NexMetals’ projects. K.Hill, a manganese project developed by Canadian company Giyani Metals, is another part of that shift.
In May, Giyani published a definitive feasibility study (DFS) for a new mine that would require an investment of $535 million.
The project is ultimately expected to produce manganese-based products used as precursors in batteries for electric vehicles (EVs) and energy storage systems. Rare earths add another dimension to the country’s emerging portfolio. Junior miner Tsodilo Resources continues exploration at Gcwihaba, where it has identified potential for rare earths and several other critical minerals.
The next step: scaling up
These projects do not yet put Botswana at the same stage as the DRC or Zambia, mining jurisdictions with well-established production industries. Botswana did resume copper production earlier this decade, notably through the Khoemacau and Motheo operations, but its volumes remain relatively modest.
Progress across the new projects nevertheless supports a broader national effort to diversify the economy at a time when the diamond market continues to face persistent difficulties. Diamonds account for about one-quarter of Botswana’s GDP and 80% of its total exports.
That domestic push coincides with growing competition among major global powers for access to critical minerals.
China, the United States, the European Union and Japan have all stepped up initiatives to secure supply chains for these strategic resources.
The shift creates new opportunities for mining companies that want to position their projects in these growing markets. While U.S. and Chinese investment still largely targets established mining hubs, Botswana is also starting to attract attention. K.Hill provides an early example. Giyani has secured a letter of interest from the Export-Import Bank of the United States (EXIM) for $225 million in potential financing for the project.
Botswana’s eventual weight in Africa’s critical-minerals race will depend above all on its ability to convert identified resources into production.
That will require advanced projects such as K.Hill to materialise, while projects such as Selebi and Selkirk will need to progress far enough to establish their economic viability and justify large-scale mining.
Faster exploration and the confirmation of additional discoveries will be equally important if Botswana is to turn its increasingly diverse mineral potential into a broader mining industry beyond diamonds.
Aurel Sèdjro Houenou
Source: https://shorturl.at/4QKHJ
