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.

<p>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&rsquo;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&rsquo;s Economics Reporter, Innocent Semosa, has more.</p>

In-depth financial issues, profiling of African businesses doing well internationally, stocks & market updates.

<p>In-depth financial issues, profiling of African businesses doing well internationally, stocks &amp; market updates.</p>

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