“Botswana government defers royalties to help hard-pressed mining companies” says news headline
9TH June 2015 Published by MARTIN CREAMER (miningweekly.com) –
The government of Botswana is bringing relief to profit-squeezed mining companies in its nation by allowing them to defer the payment of mineral royalties.
Speaking at the thirteenth Botswana Resource Sector conference, Minerals, Energy and Water Resources Minister Onkokame Kitso Mokaila said the government was applying this short-term relief and would continue to assist the mining industry on a case-by-case basis for mutual benefit.
“What keeps me awake at night is how we enable business to earn a return on their investment and at the same time have national benefit,” Mokaila told the conference
Emphasized at the conference was the importance of working collaboratively.
Leaders from Mongolia to Mali and South Africa to India need to understand his message.
Stop looking for a hand out and get into the global competitive struggle for the long term.
Sovereign position means little in a global battle for markets when the so called super cycle is in retreat for the next few years. Only those that figure this out and form true partnerships for the shared investment risks can take the high ground and likely succeed.
The others? They will struggle. History has shown us this pattern repeatedly.
Mines, ports, and rail infrastructure are all part of the logistics package for those that want to be world class providers.
The Botswana Minister made himself available for prolonged questioning from the floor.