Gaborone, Botswana – (African Boulevard News) – The government of Botswana has raised eyebrows by announcing its decision to extend the operating license of the Lerala diamond mine, despite the fact that its owner, Israeli tycoon Gilad Shabtai, has not yet resumed operations at the site.
The Lerala mine, located in eastern Botswana, was previously shut down in 2017 due to financial troubles. Shabtai, a multi-millionaire and former majority shareholder in Viber, had acquired the mine with the hope of turning it into a lucrative operation. However, his company has faced difficulties in restarting production, leading to doubts about the mine’s future.
Critics argue that the government’s decision to extend the license is a questionable move. They believe that it sends a message that the government is supporting Shabtai despite the lack of progress at the mine. Some have even accused the government of favoritism towards the Israeli tycoon.
In response to these concerns, the Minister of Mineral Resources, Green Technology, and Energy Security, Lefoko Moagi, defended the decision, stating that the government believes in supporting the diamond industry and attracting investment to diversify the country’s economy. He emphasized that the extension of the license does not guarantee the resumption of operations at the mine but allows for the possibility in the future.
Industry experts have expressed mixed opinions on the matter. While some believe that the government should focus on supporting viable operations that are already contributing to the country’s economy, others argue that the extension of the license could be a strategic move to encourage Shabtai to accelerate efforts to restart production.
Rumors have circulated that the Israeli tycoon has been facing financial challenges, which have impacted his ability to revive the Lerala mine. However, as the government shows its support, it remains to be seen whether this extension will provide Shabtai with the necessary push to bring the mine back to life.
Botswana is known for its diamond reserves, which have played a significant role in the country’s economy. The government has been proactive in ensuring the sustainability of the diamond industry and attracting foreign investments. However, the decision to back Shabtai and extend the license for the Lerala mine raises questions about the government’s approach to balancing support for existing operations and promoting new ventures.
As the industry eagerly awaits further developments, it is clear that the fate of the Lerala diamond mine will continue to be closely watched. The government’s decision has sparked debate and raised concerns about transparency and fairness in Botswana’s diamond sector. Only time will tell whether this extension will prove to be a wise move or a risky gamble for both Shabtai and the government.
In conclusion, the decision by the Botswana government to extend the operating license of the Lerala diamond mine, owned by Israeli tycoon Gilad Shabtai, has drawn attention and criticism. While some see it as a show of support for the diamond industry and an opportunity to revive the struggling mine, others question the government’s motives and fairness. As the situation unfolds, the future of the Lerala mine hangs in the balance, with stakeholders eagerly awaiting progress and hoping for a positive outcome.
