Botswana Insurance Holdings Limited (BIHL) Group continued to perform well in a seemingly uncertain market environment to produce satisfactory half year results. This was made clear during the presentation of the Group’s Abridged Unaudited Results for the six months ended 30th June 2014 before stakeholders on Thursday September 4th 2014 at Lansmore Masa Square. “Despite the uncertain economic outlook and growing direct competition, we remain optimistic about our future prospects. We aim to take full advantage of the opportunities in the economy,” noted Mrs. Batsho Dambe-Groth, Chairman of BIHL Group. “ The Group registered profits after tax of P238,187 million.…
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Discovery Metals Limited has announced that another record monthly copper production level was achieved in August 2014. 2,283 tonnes of copper was produced which is 27.6% higher than the monthly average for Q4 FY14. The company’s representative Bob Fulker said this is another important production milestone. “The recent announcement of our intention to conduct a rights issue to commence underground mining at Zeta will importantly deliver consistent higher grade sulphide ore to the concentrator, which will reduce operating costs per pound of metal produced and further lift overall copper production,” he said. DML has a Copper Concentrate Sales…
Botswana Insurance Company (BIC) said it has purchased the general lines insurance book of BIHL Insurance Company Limited. The company added that the regulatory approvals for the transaction have been obtained and all legal documentation pertaining to the acquisition has been finalised. The move follows previous statement released by BIC dated 9 May 2014, in which it stated that it was in the process of discussing a potential acquisition. “The transition has brought on board additional skills from BIHL Insurance Company Limited to the BIC head office,” the company stated. “Stakeholders can be rest assured that the highest standards with…
The two- day Aviation Africa 2015, a summit that will focus on strategies, opportunities and the challenges affecting the aviation industry in Africa, will take on place 10-11 May 2015 in Dubai, UAE. NEXUS from Saudi Arabia and Wyvern Consulting from USA have joined up with this event to become main sponsors. The link with these two companies is a perfect fit for the Aviation Africa event, which has launched to address the growth opportunities in the African continent for the aviation industry. NEXUS, which launched in 2010 and is based in Jeddah has opened a regional office in Rwanda…
Botswana Diamonds has announced the appointment of Anne Margaret McFarland, 53 as a non-executive director. Anne has extensive experience in resources in Russia. For fifteen years she worked as a senior finance executive for Glencore, BP and Russian conglomerates. She is fluent in Russian. She holds qualifications from Trinity College Dublin, University College Dublin and qualified as a chartered accountant in London. John Teeling, Chairman, commented “Anne will bring added dimensions to our board. A fluent Russian speaker with many years on the ground resources experience in Russia she will be actively involved with our fast growing joint venture with…
Small and Medium Enterprises (SMEs) can now look forward to a new business insurance offering, courtesy of Stanbic Bank Botswana. The Bank today launched BIZPROTECT, a first for Botswana, which bundles various major insurance risks into one product. “We recognise and value the potential of SMEs as a strategic engine of growth contributing towards economic diversification, job creation and poverty alleviation in the Botswana economy. The development of BIZPROTECT comes as a testament of Stanbic Bank’s commitment to offering both relevance and value to our economy, further supporting Government’s Economic Diversification Drive,” said Stanbic Bank Head of SME, Onkabetse Morapedi.…
When you try your hand at winning your national lottery, wherever you may be, the odds are quite literally more than 1 in a million. Though some may proclaim to have an adept science in mind, a secret rule or equation hidden in those all elusive numbers, the bottom line remains: it comes down to luck. After all, isn’t that the very definition of how a gamble works? Now add an element of sport to it. Suddenly, skill, discipline and a whole lot of bravado are needed. In most cases, anyway. But what about that seemingly murky territory that lies…
Tlou Energy has revealed that the planned remediation work at the Selemo Pilot Pod is expected to commence in September 2014 following the arrival of all required equipment to the drilling site. The works will involve running 5-1/2” production casing inside the existing 8-5/8” casing to isolate the previously encountered casing integrity issue and to allow production testing to recommence. Tlou has established that gas can be liberated from the coal by employing a careful dewatering process (in Selemo). The primary objective of the current program is to demonstrate a commercial gas rate following the dewatering process. Lesedi Pilot Pod…
Tsodilo Resources Limited has releases its maiden NI43-101 Technical Report including CIM compliant Inferred Mineral Resource Estimate of 441 million tonnes (Mt) with an average grade of 29.4% Fe for Block 1 of its flagship Xaudum Iron Project, North West Botswana. Highlights *The company said the Inferred Mineral Resource of 441 million tonnes at average grades of 29.4% Fe, 41.0% SiO2, 6.1% Al2O3 and 0.3% P for Block 1 of the Xaudum Iron Formation (XIF). *Davis Tube Recovery (DTR) magnetic concentrate mass recoveries of 33.2% at P80 grind size of 80 microns. *Iron ore grade DTR magnetic concentrate at 67.2%…
Discovery Metals Limited has announced its intention to undertake a 2 for 1 renounceable rights issue at A$0.02 per new DML share issued and one option for every new DML share issued under the rights issue. The rights issue is conditional on raising a minimum of A$10 million and will raise up to a maximum A$25.76 million. The company said the recapitalisation is aimed at funding the transition from open pit operations to underground mining at the Boseto Copper Mine in Botswana. “This move is an important step as the mining of consistent higher grade sulphide ore, together with a…