By Lisa Vives, Global Information Network
NEW YORK | GABORONE (IDN) — There may be a lump of coal in Botswana’s Christmas stocking if the southern African country goes through with plans to wind down its famed diamond industry and replace it with unsustainable dirty coal.
President Mokgweetsi Masisi, at the Investing in African Mining Indaba, unveiled the country’s new direction acknowledging an abysmal year for the diamond market which hurt government revenue. It is “more imperative than ever”, he said, “to diversify into other commodities and curb the nation’s overdependence on precious stones".