Debswana Seeks New Opportunities in Copper, Platinum, Solar
March 04, 26
(IDEX Online) - Debswana's board has approved plans for the company to diversify into copper, platinum and solar energy as the slump in demand for natural diamonds persists.
The move follows a 46% drop in revenue for 2024 (the latest available figures) and aligns with widespread moves within the diamond industry to become involved in more profitable activities.
Debswana, a 50/50 joint venture between the Botswana government and De Beers, will invest in a number of non-diamond projects.
Chief of operations, Koolatotse Koolatotse, said the company was expanding its copper and platinum projects across Sub-Saharan Africa, through its subsidiary Naledi Mining Services.
Speaking at the 2026 Africa Mining Indaba, in Cape Town, South Africa, he also said the company was planning a major solar farm close to its Jwaneng mine, that would allow enable carbon-neutral mining and feed the grid.
Debswana's diversification reflects a broader diamond industry pivot amid the prolonged slump. Anglo American is currently seeking buyer for loss-making De Beers (JV partner in Debswana) as it focuses more heavily on its copper assets.
Only last week Botswana Diamonds changed its name to Botswana Minerals, reflecting its own switch in emphasis towards copper exploration.
Pic shows Jwaneng mine, courtesy Debswana.