Botswana’s Nickel-Copper Revival Attracts $150M EXIM Bank Interest

By Bradley Reviera MiningFocus Africa July 31, 2025

Gaborone—In a strategic move to bolster its critical minerals sector, Botswana has received a non-binding letter of interest from the Export-Import Bank of the United States (EXIM Bank) for up to $150 million in financing to redevelop the Selebi and Selkirk mines. These sites, rich in nickel, copper, cobalt, and platinum group metals, are key to the global energy transition and high-tech manufacturing.

The proposed financing would support NexMetals Mining Corporation’s efforts to modernize operations and integrate U.S.-origin equipment and services. If approved, the deal would include a 15-year repayment term and fall under EXIM’s China and Transformational Exports Program (CTEP), aimed at diversifying supply chains away from China.

“This signals growing U.S. engagement in Africa’s mineral future,” said EXIM’s Africa lead, noting the strategic importance of Botswana’s stable investment climate.

The move aligns with Botswana’s push to become a regional leader in critical mineral beneficiation, with plans to establish a new refining corridor in Francistown by 2026.