President Ian Khama has revealed that the minerals sector continues to be challenged by depressed markets. Speaking in his State of the Nation address, the Khama however said the sector remains the principal source of revenue and primary sector for growth and diversification. He said diamond markets have shown improvement but remain sluggish and as the end of September 2013, the average diamond price was 3% higher than for the same period in 2012. Carat sales and revenue for 2013 are forecast to be 20% and 17% above that of 2012. “The Lerala and BK11 mines are still under care…
Author: Editor
Botswana has partnered with the International Union for Conservation of Nature (IUCN) to convene the African Elephant Summit, as called for in a Resolution adopted by the IUCN World Conservation Congress in 2012. The summit will be held from 2- 4 December. The summit comes at a time when elephant poaching and the illegal ivory trade are a major concern across Africa and beyond, with serious security (particularly in Central Africa); economic; political and ecological ramifications as these crimes increase in frequency and severity and expand into previously secure elephant populations. Criminal gangs and militias are using sophisticated military ware…
The global Travel & Tourism industry will grow marginally slower in 2013 than previously indicated, according to the World Travel & Tourism Council (WTTC). WTTC forecasts that the total contribution from Travel & Tourism to the world economy will be 2.9% in 2013, down from the 3.2% growth initially forecast in February of this year. The latest economic research shows that the main indicators for Travel & Tourism are positive for 2013 with international tourist arrivals have grown 5.3% in the year from January to August with all regions experiencing some degree of growth. Growth appears to be driven mainly…
Anglo American plc said it has announced the completion of its sale of 100% of the Amapá iron ore operation in Brazil to Zamin Ferrous Ltd. following receipt of regulatory approval for an initial total cash consideration of $134 million, net of certain completion adjustments. The diversified mining company added that Zamin will also pay Anglo American conditional deferred consideration of up to a maximum of $130 million in total, payable over a five year period and calculated on the basis of the market price for iron ore. Anglo American will use the proceeds to pay down debt. “As part…
Today St Louis Export will be bringing an end to the Brazil Grand Prix promotion that has intrigued fans for the six weeks. The grand prize draw will see one winner and 3 lucky friends flown to Sao Paolo, Brazil, for the Brazilian Grand Prix and to take in the sights and sounds of the mesmerising city. The draw will be held and the winner announced live on Yarona FM before both an internal and an independent auditor. St Louis Export, has been on the rise as a brand, with activations every weekend in various locations which have proved that…
Discovery Metals Limited (DML) has announced changes to the board and senior management. As a result of the shake up, Brad Sampson will cease his role as the Managing Director and Chief Executive Officer of the company with effect from 31 December 2013. The company said Sampson will be on extended leave until this time, and will be pursuing new opportunities in the resources sector and he has also resigned as a Director of DML and its subsidiaries. The current DML’s Chief Operating Officer, Bob Fulker, will assume the role of Acting Chief Executive Officer in an interim capacity pending…
Thursday 31st October 2013 saw retirement fund trustees, asset management firms, custodian banks, financial markets regulators and other key industry players for this year’s Botswana Pensions Society (BPS) annual conference. Stanbic Bank Botswana proudly served as a platinum sponsor for the prestigious event which was primarily focused on exploring and discussing the current state and the future of retirement funds. The conference was held at Gaborone International Conference Centre (GICC). “The retirement landscape in Botswana is an ever evolving and complex space that we as an industry need to work together to better understand and serve,” commented Stanbic Bank Botswana…
De Beers says Varda Shine, Executive Vice President of Global Sightholder Sales, will be leaving the organisation at the end of January 2014. Paul Rowley, Senior Vice President of Midstream Operations for Global Sightholder Sales, will succeed Shine as Executive Vice President following a comprehensive handover. Shine will also step down as Chairperson of the DTC Botswana board and Deputy Chairperson of the Namibia DTC board with successors to be announced in due course. Paul Rowley brings a wealth of experience to the role, having joined De Beers in 1983 and filled a variety of senior positions in the organisation.…
2013 has seen a strong focus by BIHL Trust on working to develop Botswana’s education sector. A number of CSI efforts with the objective of motivating school going students to excel in their studies have been carried out in the past. Most recently, BIHL Trust partnered with Badale CJSS to celebrate student achievements, sponsoring the school’s annual prize giving ceremony held on the 18th of October 2013 in the village of Mathathane. BIHL Trust’s worked with the school to celebrate top achievers through contribution of 21 trophies, 15 personalised books, 12 certificates and 17 medals. Accolades included recognition for such…
Discovery Metals, the Australian company that owns Boseto Copper Project in Botswana said its board Chairperson, John Shaw has resigned from his position while the company’s securities will be placed on Trading Halt Session State pending an announcement from the company. Shaw resigned as Chairperson and Non-Executive Director with effect from Wednesday, 29 October 2013. He has held the role of Non-Executive Director since November 2006, and Chairperson since May 2013. “The Board of Discovery Metals has commenced a process to appoint a permanent replacement for Mr Shaw. During this process, Mr Jeremy Read will assume the role of interim…