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Botswana introduces act aimed at boosting local ownership in its mining sector

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Botswana has introduced a new regulation aimed at increasing local ownership in its mining sector. The amendment to the Mines and Minerals Act replaces the government’s previous right to acquire a 15% stake in any mining concession. Under the new rules, companies must now sell a 24% share in new mining projects to local investors if the state chooses not to purchase a stake. The Ministry of Mines and Energy says the regulation took effect on October 1. Channel Africa’s Economics Reporter, Innocent Semosa, has more.

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