Lucara Diamond said production at its flagship Botswana project was in line with forecast as the company revealed it exited Lesotho operations as it did not believe sufficient shareholder value could be gained by investing cash reserves on the Mothae project. The company reported revenues of $266 million for 2014 full year in the period where it had sales totaling 412,136 carats for gross proceeds of $265.5 million at an average price of $644 per carat. The increase in revenues of 47% or $85.0 million compared to the prior year was due to higher prices received for the Karowe diamonds…
Author: Editor
First National Bank of Botswana, the Botswana Stock Exchange (BSE) listed bank has named its own bred banker, Steven Bogatsu as new Chief Executive Officer—the role he will assume by May, 1, 2015. Bogatsu joins the bank from FNB Swaziland where he was CEO and returns to the bank he knows inside out. He has held the positions of Chief Financial Officer and Director of Product Houses, responsible for Property Finance, WesBank, Credit Card, International Trade and Custody. “Steven’s leadership track record assures the Bank of a continuation of a solid execution and commitment to our customers through the delivery…
Galane Gold Ltd, the un-hedged gold producer and explorer with mining operations and exploration tenements in Botswana, has received the mining licence for its Tekwane project. The company, which also operates Mupane gold mine near Francistown, has in the past stated an indicated mineral resource of 12,735 ounces of gold and a total inferred mineral resource of 11,443 ounces of gold at its Tekwane site. It said the resource is contained in a goldbearing rubble horizon which will be strip-mined and processed using the company’s current operating plant. Galane Gold CEO, Nick Brodie said the second half of 2015…
FNB Private Clients can now experience a place where the journey matters as much as the destination: Nthula Lounge. The modern day traveler can now enjoy the comfortably serene environment of the executive lounge while waiting to board their next flight out of Sir Seretse Khama Airport (SSKIA). FNBB on Wednesday 18 February 2015 engaged media to celebrate its affiliation with Nthula Lounge, which now offers free access to FNB Private Clients. Nthula Lounge amenities tie into a variety of travel based value-adds that the Bank offers its clients. The partnership comes based upon the FNB understanding that banking has…
Employee engagement has emerged as a critical driver of business success in today’s competitive marketplace, with various studies showing the positive impact of employee engagement on company performance. Research by Gallup, the American research-based, global performance-management consulting company, describes engaged employees as being psychologically committed to a job, and likely to be making positive contributions to an organisation. This is further supported by Lebo Tseladimitlwa, Vice President of Human Resources at DHL Express Sub Saharan Africa, who says that effective employee engagement policies and management can drive innovation, productivity and bottom-line performance, and should be utilised to counter adverse market…
Barrick Gold Corporation has released its Fourth Quarter and Full Year 2014 Results that showed it recorded a loss while it also produced 6.25 million ounces of gold. It has however reviewed its production guidance for 2015 and expects to produce between 6.2-6.6 million ounces of gold. Equally, Barrick has pledged to reduce its net debt by at least $3 billion. The NYSE:ABX listed company reported a net loss of $2.85 billion, which it is said reflected the impact of $2.8 billion in after-tax impairment charges, primarily related to the Lumwana mine ($930 million) and the Cerro Casale project…
The South Africa’s Minister of Public Enterprises, Lynne Brown, has revealed that Eskom’s Medupi Power Station’s unit 6 turbine commissioning reached a critical milestone with the optimum speed of 3 000 revolutions per minute. According to the ministry, the synchronisation of unit 6 has been delayed for more than six weeks after Eskom embarked on a cautious route to ensure that all systems were in place before synchronisation of the unit. “This milestone paves the way for the synchronisation of Medupi’s unit 6 and I expect it to take place within weeks,” said Brown. “I want to congratulate Eskom on…
Survival International said it has launched another round of worldwide photography contest following the success of the first competition. The NGO focusing on protecting rights of tribal people around the world stated that the competition aims to celebrate photography as a powerful medium for raising awareness of tribal peoples, their unique ways of life and the threats to their existence. It said both amateur and professional photographers are encouraged to enter. Photographs can be submitted in categories on guardians: images showing tribal peoples as guardians of the natural world; community: portraits of relationships between individuals, families or tribes and Survival: images…
De Beers Group said its International Institute of Diamond Grading & Research (IIDGR) business is running synthetic detection symposiums around India to demonstrate its technology to all elements of the Indian diamond community. The IIDGR team, led by the Institute’s Commercial Director, Jamie Clark, are at the Bharat Diamond Bourse in Mumbai on 16th and 17th February, before travelling to The Gateway Hotel Athwalines in Surat on 19th February. Attendees will gain better understanding of how the detection technologies work and the role they play in supporting consumer confidence in diamonds. The IIDGR markets a range of leading detection instruments…
The former Gaborone Food and Wine Show gets a change of name in 2015. Now deemed The Gaborone International Food and Drinks Market, the show organisers decided to adopt at the new name in order to open the Market to a wider variety of beverages. “Our first Food and Wine Show was in 2012, and we have since grown. It is now our responsibility as organisers to do our part to ensure that we accommodate even more of our patrons. With an absence in 2014, this year we’ve decided to come back bigger & better. We are not…