• Botswana awards British junior Aterian a new copper exploration license in the Kalahari Copper Belt

• The license expands Aterian’s copper portfolio in Botswana to 2,694.58 square kilometers

• Authorities seek to reduce diamond dependence amid a global diamond market downturn

Diamonds remain a pillar of Botswana’s economy. However, the global diamond market crisis has weakened this advantage in recent years. As a result, authorities have accelerated efforts to diversify the economy by developing other mining resources.

In Botswana, British junior mining company Aterian announced on Monday, December 15, that it obtained a new copper exploration license. The permit sits within the Kalahari Copper Belt (KCB) and highlights momentum that could position copper as a new pillar of the local mining sector alongside a diamond industry under pressure.

The license carries an initial validity of three years and covers 396.24 square kilometers. The permit increases Aterian’s total copper landholding in Botswana to 2,694.58 square kilometers.

The company plans to integrate the new license into a broader group of permits scheduled for an artificial intelligence–driven exploration campaign. Aterian launched this initiative through a partnership announced earlier this month with French startup Lithosquare.

Botswana’s copper potential has also attracted other mining companies in recent months. Noronex secured new exploration licenses in March 2025, while Cobre accelerated its drilling activities.

These companies aim to replicate the success of Sandfire Resources, which has operated Motheo, one of Botswana’s few copper mines, since 2023.

For the Botswana government, this momentum could eventually reduce the country’s reliance on diamond revenues. Diamonds account for about 80% of exports, one-third of fiscal revenues, and one-quarter of gross domestic product.

The current global diamond market downturn, marked by falling prices and weakening demand, continues to affect Botswana. The International Monetary Fund expects the economy to contract by 0.9% in 2025, according to its latest forecasts.

Beyond copper, authorities also consider other minerals to reduce diamond dependence, including manganese and nickel. The country also seeks broader economic diversification beyond mining through investments in transport infrastructure, luxury tourism, financial services, and the housing market.

This article was initially published in French by Emiliano Tossou

Adapted in English by Ange Jason Quenum