Botswana has signed a suite of agreements with the Sultanate of Oman covering mineral exploration, renewable energy and oil storage infrastructure, marking a significant step in the country’s strategy to diversify its economy beyond diamonds.
The deals, concluded during a state visit by Oman’s Sultan Haitham bin Tarik, include cooperation across mineral exploration, a proposed 500MW solar power project and the development of oil storage facilities.
Under the mineral exploration agreements, Omani entities will work with Botswana to explore for copper, gold, graphite and iron ore across approximately 70% of the country’s largely underexplored territory. The scale of the initiative highlights Botswana’s ambition to unlock new mineral potential and attract long-term foreign investment.
“These agreements reflect our commitment to unlocking Botswana’s vast mineral potential, attracting investment and building long-term partnerships,” President Duma Boko said.
Diamonds currently account for around 80% of Botswana’s export earnings, but the sector has faced increasing pressure from weaker global demand and competition from lab-grown stones. As a result, the government has been intensifying efforts to broaden the country’s resource base and reduce reliance on a single commodity.
The agreements with Oman form part of that broader diversification strategy, linking mining development with energy and infrastructure investment. The planned solar project is expected to support domestic power supply while aligning with global energy transition trends.
For Oman, the deal reflects a growing focus on securing access to critical minerals and expanding its international investment footprint. Gulf states have increasingly turned to Africa as a source of future-facing commodities such as copper and graphite, both essential to electrification and battery supply chains.
While the agreements remain at an early stage and do not yet identify specific projects or operators, they signal the opening of a substantial new exploration frontier in one of Africa’s most stable mining jurisdictions.
As Botswana moves to develop its untapped mineral potential, further partnerships and project-level developments are expected to follow, potentially creating opportunities for international mining companies and investors.
