Botswana, Oman Sign Energy and Mining Deals

Is this a bold move toward diversification and long-term resilience, or does it fall short of counterbalancing the mounting risks of a diamond-dependent economy in decline?
Botswana, Oman Sign Energy and Mining Deals
Above: President of Botswana Duma Boko speaks at the first Africa Biodiversity Summit in Gaborone, Botswana, Nov. 5, 2025. Image credit: Tshekiso Tebalo/Xinhua/Getty Images

The Spin


Pro-government narrative

Botswana's Oman deals — covering solar energy, critical mineral exploration and infrastructure — prove the country is actively building a smarter, more resilient economic future. Opening a permanent embassy in Muscat and launching direct flights signals a serious long-term partnership, not just a one-off transaction. Expanding into copper, lithium and rare earth minerals positions Botswana to lead Africa's critical minerals boom rather than remain hostage to diamond price swings.

Government-critical narrative

Botswana’s diamond-dependent economy is under growing strain — revenues have dropped, S&P has downgraded the country’s credit rating and lab-grown stones are eroding demand for natural diamonds. Taking a majority stake in De Beers during a downturn risks doubling down on a weakening sector. While diversification into solar energy and critical minerals is underway, it remains uncertain whether this shift can offset mounting structural pressures over time.


Metaculus Prediction

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© 2026 Improve the News Foundation.

All rights reserved.

Version 7.6.0