Paragon Diamonds Limited, the AIM quoted diamond development company in Lesotho, Africa, said it has agreed to purchase, conditional on shareholder approval, 63,000,000 ordinary shares in the company, representing 18.9% of Paragon’s entire issued share capital, from Lanstead Capital L.P. at a price of 3p per share (‘the Transaction’) in an off market purchase. “The shares so purchased will be cancelled. The Transaction is in line with management’s focus on generating significant value for shareholders, as it looks to commence Stage 1 production of large high value stones at its flagship Lemphane kimberlite diamond project, in Lesotho, in the…
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Copper/ nickel miner BCL has awarded Outotec a contract to modernise the nickel flash smelting furnace in Selebi Phikwe, Botswana. In addition, the parties have made a service level agreement for the operation and maintenance for a period of 36 months. According to Outotec, the total value of contracts exceeds EUR 17 million and the orders has been booked in Outotec’s fourth quarter 2014 order intake. “The modernization of BCL’s smelter demonstrates our commitment to being our customer’s partner over the life cycle of the investment, from initial technology delivery to shutdown services, upgrades, rebuild of the entire furnace, integrating…
The Department of Tourism and BotswanaPost have announced an agreement to make it easier for the tourism and hospitality industry to pay training levy and other license fees using the postal network across the country. The Memorandum of Agreement will help the department, which has less presence as it only has 7 offices in Gaborone, Selebi Phikwe, Francistown, Maun, Gantsi, Tsabong and a satellite office in Serowe. Director of Department of Tourism, Kelebaone Maselesele said these offices cannot service the entire tourism industry across the country hence the partnership with BotswanaPost as it has 125 branches including in the remotest…
The Organisation of Eastern and Southern Africa Insurers’ 37th Annual Conference will be held for the first time in Botswana at the GICC from the 16th to the 19th November 2014. There is only three days left before the Botswana Insurance Industry opens its doors to host potential insurance industry investors, decision makers, and high level delegates from Eastern and Southern Africa. This conference will be graced by key players who will provide a wealth of information on pertinent issues in the insurance market. The theme of the conference is titled “Overcoming Barriers to Enhancing Regional Capacity in the Insurance…
NYSE listed Barrick Gold Corporation said it has appointed Sergio Fuentes as Executive Project Director for Pascua-Lama. Fuentes was most recently Vice President, Projects for Codelco and has nearly 30 years of mining industry experience, with a proven track record of engineering, optimizing and constructing complex mining projects, including high-altitude operations in the Andes. The company said Fuentes will focus on optimising detailed engineering, improving the project’s economics and developing a robust execution plan for remaining construction activities at Pascua-Lama. “He will work with the project leadership team to advance Pascua-Lama in an environmentally responsible manner, in compliance with legal…
Botswana Insurance Fund Management (Bifm) hosted a training session for all its clients and stakeholders in a bid to continue imparting knowledge, sharing views on topical issues and to highlight the role of trustees from a regulatory perspective. Held on Thursday 30th October, the training session comprised of key insights from, subject matter experts and indeed the Non-Bank Financial Institutions Regulatory Authority (NBFIRA). “A firm dedication towards adhering to a sound governance structure lies at the heart of Bifm and of the entire BIHL Group. We are proudly aligned with the requirements of King III in terms of governance, and…
BIC continues to go beyond its office doors and contribute towards building a developed society. BIC sponsored a hole at the 10th Annual UB Foundation Golf Day that was held at Gaborone Golf Club on Friday 07th November 2014. The day brought teams of local golf players together to enjoy a game of golf, network, build new relationships and strengthen old ones. The event fundraises to augment the endowment fund which benefits graduate programmes at the University. In supporting this initiative BIC sponsored a hole which is a donation to the UB foundation as a way to give back to the…
Pangolin Diamonds Corp. said it has received results from the recently completed detailed surface sampling program at its wholly owned Malatswae Project in Botswana, showing the recovery of additional kimberlite indicator minerals. A total of 62 close-spaced (200 by 200 metres) soil samples from 31 sample sites were collected to further qualify the earlier discovery of three diamonds and kimberlite indicator minerals from within a 1 km2 area of the Malatswae Project. The soil sampling protocol employed by Pangolin is described below; MCC Geoscience Inc. (North Vancouver, B.C.) described the surface features. Using an airborne magnetic layer, two geophysically-distinct areas…
Lucara Diamond said it is looking beyond Karowe mine as there is a possibility of a prolonged lifespan as the operations goes underground. Chief Operating Officer of the company, Paul Day said in Letlhakane that Karowe has every chance of running far in excess of its original design life. “There is a good chance that one day Karowe will develop an underground operation to take the life of this mine beyond that originally planned into 20135 or beyond,” Day said. “We are already looking for Karowe2. Recently, the Ministry of Mines and Energy were awarded 2 X exploration packages and…
World Travel & Tourism Council is starting a new monthly series of interview with past winners of the Tourism for Tomorrow Awards. To kick off, they interviewed Les Carlisle, Group Conservation Manager for &Beyond, which won our conservation award in 2013. WTTC: When you won the Conservation Award in 2013, we wrote about your relocation work with Rhino. Looking back a year or so later, how have these projects worked out, and are there plans to develop them? LC: The Gaur project in India has really had substantial knock on effects. The most obvious is that the Gaur population in…