I would like to acknowledge the traditional custodians of the land on which we are meeting today; I would also like to pay homage to the elders past and present, as well as those emerging. It is indeed an honor and privilege to address you today on behalf of my delegation and I.
May I extend warm greetings from the Kingdom in the Sky. To thank our hosts, Paydirt Media, and the Government of Australia for providing this important platform in Perth, a city synonymous with mining excellence.
Lesotho and Australia, though different in size and scale, share remarkable similarities in the pillars of our economies.
Australia is globally known for mining, for wool production, for fisheries, and for farming under tough conditions. In Lesotho, we too mine diamonds and hope to mine rare earths in the near future. We are also among the leading producers of wool and mohair, we are pioneering aquaculture, and our farmers cultivate crops under challenging circumstances due to our mountainous terrain and harsh climatic conditions.
Where Australia has reached global heights, Lesotho is just beginning to unlock its full potential. That is why we look to Australian partners to share experience, technology, and investment that can help us grow these industries in a way that is sustainable and transformative.
Excellencies,
For over a century, Lesotho has been known for its diamonds. Our mines; Letšeng, Kao, Liqhobong, and Mothae have produced some of the most remarkable stones in history.
These have carried the name of Lesotho across the globe.
But today, truth be told, the global natural diamond industry is going through a difficult transitory period. Prices are at historic lows, demand is being reshaped by synthetic diamonds, and mining companies worldwide are retrenching thousands of workers. In Lesotho, two of our four mines are on care and maintenance, while the others operate on thin margins.
This challenge has been compounded by the lingering aftershocks of COVID-19 on the world economy. Producers everywhere are requesting suspensions or remissions of royalty payments to stay afloat.
At first glance, this may seem a gloomy picture for the future of natural diamonds. Yet we remain optimistic. Like other commodity slumps before, we believe this downturn will pass.
The intrinsic quality of natural diamonds speaks for itself.
Producers across the globe, together with governments such as ours, are hard at work to re-establish natural diamonds as jewels of choice.
Lesotho is committed to supporting its mines through this period and ensuring we are part of the global effort to strengthen the natural diamond market.
Ladies and Gentlemen
While the market is uncertain, one fact is not: Basotho have proven themselves to be world-class miners and technical professionals.
· 98% of employees in our mines are Basotho nationals.
· Our engineers, geologists, and operators have mastered complex kimberlite operations at high altitude.
· They have done so with resilience, efficiency, and innovation, earning Lesotho a reputation for technical excellence.
This human capital is the bedrock on which we will now pivot our mining strategy.
Recent studies have uncovered a rather enormous potential for Lesotho.
Our coal deposits, long considered to have little value, are in fact rich in rare earth elements; the building blocks of technologies that drive the modern world. These minerals are essential for electric cars, wind turbines, mobile phones, and digital devices.
What this means is simple: Lesotho is not only a diamond country. We now have the possibility to become a reliable source of critical minerals that the world urgently needs for the green energy transition and digital economy. This opens the door to a new industry that could diversify our economy, create jobs, and strengthen Lesotho’s role in global supply chains.
Ladies and Gentlemen
Our government has adopted a dual-track strategy designed with you, prospective investors and partners in mind: Firstly, we aim to stabilize the Diamond Sector by putting in place temporary relief measures to support operations, restore investor confidence, and keep jobs secure. This creates a foundation for ongoing production and for new capital to flow into the country.
Secondly, we aim to diversify into critical minerals by opening up exploration of rare earth elements and, therefore, we invite you as investors and partners to join us in joint ventures, technology partnerships, and new projects that will grow with Lesotho.
We are developing a forward-looking National Mining Strategy. Let me share with you, in plain words, what that really means for those of you looking at Lesotho.
· It means we will open real opportunities for exploration of rare earth deposits right across the country.
· It means we want to see more than extraction; we want to see joint ventures that give our partners and our people shared success.
· It means a clear and transparent investment framework so you know the rules, and you can trust that responsible investors will be rewarded.
· And it means positioning Lesotho as a dependable player in the renewable energy and technology supply chains, giving early movers a genuine advantage in a new frontier market.
Excellencies, our vision is clear:
· Diamonds will remain part of our crown; rare, beautiful, and hopefully valuable.
· But our future crown will shine with new jewels: rare earths, renewable energy, sustainable aquaculture, green hydrogen, agro-industrialization, high-value agriculture, and value-added industries.
Excellencies, For generations, Basotho shepherds have guided their flocks across our mountain slopes. Today, Lesotho stands among the top producers globally, fourth in wool exports and second in mohair. These luxury fibers are prized in fashion houses from Paris to New York. Yet too often, they leave our country raw and unprocessed. Our goal is to change that: to move from raw exports to branded excellence, where “Made in Lesotho” apparel graces global runways and creates jobs for our youth.
Lesotho’s cold, pristine mountain waters have also been proved to be perfect for trout farming.
In fact, one of our aquaculture farms, SanLei Trout Farm was the first in Africa to achieve the prestigious Best Aquaculture Practices Certification, placing our fish alongside the world’s best.
Our trout already reaches premium markets in Japan and beyond.
This industry is proof that Lesotho can compete globally in sustainability and quality and it holds potential for exports, eco-tourism, and rural livelihoods. We have multiple large bodies of water for expansion of aquaculture; all we need is great partners to do it with.
Your Excellencies
Lesotho is known as the water tower of Southern Africa.
From our highlands, flows mighty rivers that sustain our neighbours. These rivers, support both agriculture and industry across the region. Most prominently, through the world-renowned Lesotho Highlands Water Project, we deliver life-sustaining water to Gauteng; the industrial hub of South Africa. And the transformative journey does not stop there. Future phases of this project are underway.
In addition, a new Lesotho–Botswana Water Transfer Scheme is on the drawing board. It will deliver water, not only to more parts of South Africa, but also across the border into Botswana. That is how transformative the Lesotho water resources are. This gift of water is more than a natural asset; it is the foundation of a new energy and agricultural future.
We want to deploy this water resource not only to power hydropower plants but also to unlock irrigated commercial agriculture. We imagine Lesotho exporting not just diamonds but also high-value horticultural crops into regional and global markets. This is about food security, yes, but it is also about building an export-oriented agricultural industry anchored on our comparative advantage in water.
We are scaling up hydropower, solar, and wind to meet domestic demand and to supply clean energy to the region.
And we are positioning Lesotho to attract sustainably-sensitive industries to locate and grow in our country.
For investors, this means opportunities to partner in green power projects, storage facilities, and transmission infrastructure.
For our mining sector, it means greater sustainability with operations powered by clean energy and future projects anchored in responsible practices.
In this journey, His Majesty King Letsie III is personally championing the Lesotho Just Energy Transition Fund.
This is a bold national initiative to ensure that our move to green energy is fair, inclusive and accelerates growth. The Fund is designed to mobilize international partnerships and investment into renewable projects, safeguard jobs, and channel benefits to communities. It is both an invitation and a guarantee; that Lesotho’s energy future will be sustainable and just.
But there is another frontier we are ready to explore, the digital economy.
Lesotho’s cool climate, renewable energy, and water resources together create an ideal environment for data centers. By hosting data centers at lower operational cost, powered by clean energy, we can position Lesotho as a secure and cost-efficient digital hub for Southern Africa. This is an emerging opportunity where early partnerships can make a lasting mark.
By leveraging our water resources, and guided by the leadership of our King, we are positioning Lesotho to become not only a secure source of minerals, but also a hub for renewable energy, agriculture, and digital infrastructure that underpin growth and environmental responsibility.
This is where you, distinguished delegates, come in.
· Australia has unmatched expertise in mining exploration, mining, beneficiation, and advanced commercial agriculture.
· We invite you to partner with us;
o in exploring and mining rare earths,
o in irrigated agriculture,
o in wool and mohair value chains,
o in aquaculture, and in building resilient African value chains.
· We also see strong opportunities for collaboration in renewable energy, digital infrastructure, and water projects, building on Lesotho’s role as the water tower of Southern Africa and the leadership of King Letsie III in advancing the Just Energy Transition Fund.
Lesotho offers a stable democracy, access to SADC’s 300 million consumers, and a skilled, determined population eager to innovate.
As I conclude let me be clear: Lesotho is open for business, open for innovation, and open for sustainable investment.
· We are not only a diamond country.
· We are a country of possibilities;
o where the brilliance of diamonds meets the promise of rare earth minerals,
o where renewable energy meets industrial growth,
o where agriculture meets exports,
o where wool and mohair meet global fashion,
o where aquaculture meets sustainability, and
o where our people are the ultimate resource.
Together, let us build a Lesotho beyond diamonds; a Lesotho that shines for its industries, its sustainability, and its shared prosperity.
Finally, before I leave the podium, let me warmly encourage you to contact our investment promotion agency LNDC for additional information and guidance on how to pursue opportunities in Lesotho. Their team stands ready to assist investors in turning possibilities into partnerships.
I thank you.
