African Copper Plc, the AIM and Botswana listed copper production and exploration company, has announced the production and exploration update for the fourth quarter and its financial year to 31 March 2014 (“fiscal 2014”). The company said for the fourth quarter of fiscal 2014, it produced 2,515 metric tonnes (“Mt”) of copper in concentrate, a marginal increase on the third quarter when 2,499 Mt were produced. It said the amount of ore mined from the Thakadu pit was impacted by frequent breakdowns of the mining contractor’s fleet and rain revealing that ore transported from Thakadu to Mowana for processing was…
Author: Editor
Headline inflation for March diminished to 4.4% y/y as revealed by data from Statistics Botswana. The 0.2 percentage point decrease from February was mainly steered by the decline of the Food & Non-Alcoholic Beverages sector (down by 0.3 percentage points) and the 0.9 percentage point plunge on the Transport sector (of weight 18.98%). The Alcoholic Beverages, Tobacco & Narcotics group also fell by a huge 1 percentage point. However, the Housing, Water, Electricity, Gas & other fuels group which weighs about 11.5% edged up by 0.2 percentage point while Restaurant & Hotels rose by 0.5 percentage point. Other sector within…
The Board of Kimberley Diamonds Limited says it has decided to defer its current planned capital raising due to prevailing market conditions. “The Board is conscious of unnecessarily diluting its loyal existing shareholder base, given the pricing levels currently available. In addition, during the course of marketing the company, alternate, non-dilutive options to fund KDL’s development programme were proposed, which the Board also wishes to consider,” the company said in a statement. Kimberley says it has a cash balance of A$9.7 million with no debt, and in the opinion of the Board, is fully funded for its existing operations. The…
Leading international express and logistics company, DHL Express, will be continuing its expansion and investment strategy across Sub-Saharan Africa, and considers Botswana as a key market within this strategy. Charles Brewer, Managing Director of DHL Express Sub-Saharan Africa, is in the country to meet with key stakeholders, customers, employees and the media to discuss trade and development in the country. “As we see the continent ‘surge’ as a result of sector investment, increased consumer spending and economic activity, the future is still bright for the continent,” comments Brewer. He continues, “The International Monetary Fund (IMF) has projected a GDP growth…
DHL Express has introduced an Electronic Proof of Delivery (ePOD) service in Botswana that can directly capture customer signatures on screen. The Electronic Signature (eSIGnature) capability eliminates the need for hard-copy Proof of Delivery (POD) sheets. Each ePOD provides delivery details and an image of the receiver’s signature if captured digitally. There will thus be no need to call Customer Service; a client can simply view, download, print or email their Proof of Delivery documents either as letters or in table format — usually within an hour of delivery. A ‘Get Proof of Delivery’ link in the online tracking results…
Pangolin Diamonds has reported on a second diamond positive area of soil sample results from its 100%-owned Mmadinare Diamond Project in north-east Botswana. The company said it has discovered one additional micro-diamond and 281 ilmenite grains from 33 soil samples collected by Pangolin field teams within “Block 2” of the Project, which follows earlier sampling. The Block 2 is targeting kimberlites approximately 60 kilometers east of the Block 1 area where Pangolin reported in an April 9, 2014 news release the discovery of a first micro-diamond in a soil sample. Pangolin said the samples were processed by Pangolin through its…
African Energy Resources Limited has advised its shareholders that it has entered into a non‐binding Memorandum of Understanding (MOU) with Zambia’s electricity utility ZESCO Limited, and Maysen and Borowski Investments Pty Ltd (M&B), an Australian based investment and corporate advisory firm. Zambia is currently experiencing a period of strong economic growth centred on new mine and smelter developments in the Copperbelt in the northern part of the country. These new developments, plus the expansion of several existing large‐scale mines is leading to a substantial increase in demand for power. Under the deal, the two parties have agreed to work together…
The Bank of Botswana (Bank) has informed members of the public that, pursuant to Section 11(4) of the Banking Act (Cap. 46:04), the licences to transact banking business in the domestic and offshore markets, issued to ABN AMRO Bank (Botswana) Limited and ABN AMRO Bank (Botswana) OBU Limited, respectively, is cancelled, with immediate effect. This action follows the two banks’ decision to voluntarily cease their operations in Botswana. Accordingly, the public is advised to henceforth not transact banking business with any person purporting to represent and/or trade in the name of ABN AMRO Bank (Botswana) Limited and/or ABN AMRO Bank…
African Energy Resources Limited (“African Energy”) advises that the Company’s board of directors has resolved to undertake a capital raising of approximately A$4.5 million through: A Placement to raise A$1.5 million, and A subsequent non‐renounceable entitlement offer to all eligible shareholders to raise up to A$3.0 million. The funds raised by the Placement and Rights Issue will allow the Company to advance it’s portfolio of coal and power projects in Botswana. Placement: The Placement will comprise an issue of approximately 17.3 million new shares at an issue price of 8.5 cents per share to raise approximately A$1.5 million before costs. The Placement is being made to professional and sophisticated investors, pursuant to section 708 of the Corporations Act 2001 (Cth) and in accordance with Listing Rule 7.1 of the ASX Listing Rules. The Company’s major shareholder, Sentient Executive GP IV, Limited (“Sentient”) has agreed to purchase 14.9 million shares in the Placement to take their ownership in the Company to 19.9%, further demonstrating their support for the Company and its coal and power projects in Botswana. Entities associated with Directors of the Company have agreed to purchase 2.4 million shares in the Placement. These shares will be issued subject to approval by shareholders at a General Meeting to be held in May. Non‐Renounceable Rights Issue: The Rights Issue will be made available to residents of Australia, New Zealand and Cayman Islands. Eligible shareholders will be given the opportunity to participate in the capital raising on the same terms as the Placement via a non‐renounceable rights issue. Eligible shareholders will be able to participate in a shortfall facility and apply for new shares in excess of their pro rata entitlements under the Rights Issue. Further information on the Rights Issue will be released to shareholders in due course.
The World Travel & Tourism Council (WTTC) announces that it will hold its 15th Global Summit in Madrid, Spain, in 2015. The Global Summit, which is the biggest annual gathering of Travel & Tourism leaders, will be held on 15-16 April 2015 and is to be hosted by Ministerio de Industria, Energía y Turismo del Gobierno de España; Comunidad de Madrid and Ayuntamiento de Madrid. The venue of the next Global Summit 2015 was presented last week in Madrid, with the attendance of David Scowsill, President & CEO of WTTC, Isabel Borrego, Secretary of State of Tourism of the Government…