Maatla Resources CEO Jacques Badenhorst assures that exploration at Botswana's second coal mine will start within the first quarter of 2022, despite worldwide calls to abandon the use of fossils for energy production.

However, at a COP26 conference in Glasgow, the country signed a declaration in which all nations of the world commit to reducing the use of highly polluting coal. However, Botswana chose not to commit to cease issuing coal mining licenses.

With the development of its coal resources, estimated at 200 billion tons, the country is looking forward to reducing its economic dependence on diamonds.

In February Maatla received a license and hoped to start building the 1.2 million ton per year mine as early as 2022, but plans were halted by the covid-19 pandemic as well as regulatory delays.

In April of this year, Maatla signed a $45 million financing agreement with HMS Bergbau, and HMS Bergbau took a 51% stake in the company.

"The goal is to complete the financing in February of next year, and build the mine immediately," said Jacques Badenhorst.

The CEO said that the target market for the mine includes cement manufacturers and boiler operators in South Africa, Zambia, the Democratic Republic of Congo and Namibia.