Credit: Björn Wylezich/Adobe Stock Diamond-Rich Africa Risks Disputes Over Push to Own 24% of Mining Companies
Botswana, the world's second-largest diamond producer, will require companies to sell a 24% stake to locals under a revised law awaiting presidential…
October 17, 2024 at 06:00 PM
4 minute read
Botswana, the world's second-largest diamond producer, will require companies to sell a 24% stake to locals under a revised law awaiting presidential approval, part of a broader African push for greater mining control that lawyers expect to trigger legal disputes and compliance issues.
Botswana's parliament passed amendments to its mining law in July, a month before the country announced the discovery of a 2,492-carat rough stone, the second-largest diamond ever found.
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