The Indices of Mineral Production (IMP) in the third quarter of 2014 stood at 105.7 showing a year on year growth of 8.9 percent, Statistics Botswana has revealed. According to government’s statistics body, the increase in IMP primarily reflected positive contributions from diamond, copper concentrates, soda ash, salt, silver and coal production. It said that even though Copper-Nickel-Cobalt Matte and Gold contributed negatively by 5.0 and 0.3 percentage points respectively, this could not offset the growth in the mining sector. As usual, the main contributors to the 8.9 percent increase in mining production were diamonds contributing 11.4 percentage points followed by…
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Anglo American says its diversified portfolio came in handy in 2014 as it shielded the group from environment characterised by commodity volatility as it presented its full year results for year ended December 31. The group reported a net loss of US$2.51 billion and made headlines with the US$$3.5 billion Minas Rio write-down that contributed to the company reporting a bigger loss. Although the company shipped its first ore from the Minas-Rio project in Brazil ahead of schedule in October and expect to bring the project in $400 million below the revised budget, the steep drop in the iron ore…
The Copperbelt Mining Trade Expo & Conference (CBM-TEC) will once again gather thousands of mining experts and services providers to the industry from 5-6 May in Kitwe—the heart of the Zambian Copperbelt.This follows the launch of the event last year that ‘put the Copperbelt on the map’ and registered 92 exhibitors, 1600 visitors, 140 conference delegates, including the former Zambian Vice President and Minister of Mining, Energy and Water Development.The event enjoys the support of the industry and is endorsed by the Zambia Chamber of Mines. “CBM-TEC 2015 will truly add value to the Zambia investment climate and help in…
Rio Tinto said it has delivered underlying earnings1 of $9.3 billion and announces a 12 per cent increase in full year dividend and a $2.0 billion share buy-back.Rio Tinto chief executive Sam Walsh said last year they made a clear commitment to materially increase cash returns to our shareholders. “We have delivered this today through a 12 per cent increase in our full year dividend and a proposed $2.0 billion share buy-back. These represent a total cash return to shareholders, in respect of 2014, of almost $6.0 billion,” Walsh said.He said that their continued financial and operating discipline enabled us…
Avis Budget Group said it has signed an agreement with Barloworld Ltd, which operates the Avis Car Rental brand in southern Africa, to also operate the Budget Car Rental in the region The deal, which is effective March 1, 2015, offers the two companies the opportunity to leverage Barloworld’s extensive knowledge of the car rental market to grow and develop the Budget brand across southern Africa. “Avis Budget Group is delighted to be extending its relationship with Barloworld to include Budget,” said Troy Warfield, commercial and licensee director, Avis Budget Europe, Middle East and Africa (EMEA). “The combination of Barloworld and…
The DHL Africa as One team that departed from Cape Town in October 2014 in three Land Rover Discoveries, have completed almost a third of their journey, covering 15 countries in 102 days. During this period, they have crossed 40 border posts, travelled 23,000 kilometers and spent over 350 hours on the road – with the longest uninterrupted stretch of continuous driving lasting 17 hours. As the Official Logistics Partner of Rugby World Cup 2015, DHL embarked on this journey to deliver the concept of rugby to the African continent, while passing a single rugby ball from hand to hand,…
Only 12 months after the official signing of the Power Purchase Agreement (PPA), Gigawatt Global Cooperatief has succeeded in planning, developing, constructing and activating the $23.7 million solar energy plant, culminating in a ceremonial ribbon-cutting ceremony. Rwanda’s Minister of Infrastructure, James Musoni, and the Chief of Staff of the U.S. Government’s Overseas Private Investment Corporation (OPIC), John Morton, will lead the ribbon-cutting on Thursday, February 5, at 12:30pm of the 8.5 Megawatt solar field at the Agahozo-Shalom Youth Village, and will be joined by international representatives of the partners that developed the landmark $23.7 million project. The Rwanda field -…
On 11 February 1990 the world saw the release of one of the most iconic figures in history, Nelson Mandela. The image of Mandela walking slowly, together with members of his family, through the gates of the Victor Verster prison with his arm and fist raised in victory will always go down as the moment South Africa started its walk to democracy. It has been 25 years since that magical day and The South African Gold Coin Exchange (SAGCE) and The Scoin Shop are honouring this turning point in South Africa’s history by launching the 1oz 25th Anniversary of Mandela’s Release…
INDABA, the largest Pan-African travel show and We Are Africa, the bespoke travel trade show, will once again join forces in 2015 under the banner: TWO SHOWS ONE AFRICA. This collaboration will be to bring the very best Africa has to offer to the world’s leading travel and tourism buyers. This partnership was initiated in 2014 to ensure that select international buyers would be exposed to exhibitors at both these must-attend African travel events, guaranteeing them access to the very best Africa has to offer over the course of one week. We Are Africa takes place at the Cape Town…
Discovery Metals said it has secured $AU 110 million investment from Castlepines Global Equities Limited that will go towards a number of activities including the development of Boseto Underground mining. The deal that is preceded by the singing of Binding Memorandum of Understanding is however subject to Castlepines undertaking satisfactory due diligence. Under the deal, Castlepines will acquire 34% stake in Discovery Copper (Botswana) (Proprietary) Limited (DCB), while Discovery Metals will retain 66%. According to the agreement, the investment by Castlepines in DCB will be for a period of 12 years, and will attract a commercially competitive coupon rate (based…