Botswana to open embassy in Moscow, open up to Russia in rare earths and diamonds, minister says

Diamonds are displayed during a visit to the De Beers Global Sightholder Sales (GSS) in Gaborone, Botswana November 24, 2015. REUTERS/Siphiwe Sibeko/File Photo

MOSCOW (Reuters) – Botswana plans to open an embassy in Moscow soon and has invited Russian investors to cooperate on rare earths and diamonds, Russia’s TASS state news agency quoted Botswana’s foreign minister as saying on Sunday.

Russia is seeking to strengthen its foothold in Africa amid the wider confrontation with the West.

“We firmly believe that Botswana is the best place for investment, considering its political and economic stability. Therefore, we strongly encourage Russian investors to come to Botswana,” Botswana’s Phenyo Butale was quoted as saying by TASS.

Diamonds normally contribute around one-third of Botswana’s national revenues and three-quarters of its foreign exchange receipts.

Russia’s Norilsk Nickel, the world’s largest producer of palladium and high-grade nickel, settled its dispute with the government of Botswana and BCL Group in 2021 about a transaction for the sale of Nornickel’s assets in Africa to BCL Group.