Paragon Diamonds Limited said it has concluded a valuation on the parcel of diamonds (221.19 carats) representing the majority of pit samples collected over the Lemphane Kimberlite project in Lesotho. The valuation was undertaken by WWW International Diamond Consultants Ltd in Antwerp, and included a re-pricing of the 90.22 carats previously valued in January 2013. “The valuation parcel of diamonds was made up from samples excavated from different locations from the surface of the Lemphane Kimberlite. Some indications of variable stone valuations are evident which can be attributed either to varying sample locations or to the volumes of material excavated,”…
Author: Editor
Sedate Municipal Solutions, a wholly owned subsidiary of MICROmega Holdings, has acquired a controlling stake (51%) in Amanzi Meters (Pty) Ltd, a South African manufacturer of world class innovative water management and metering products for the African Market. Sebata is the leading provider of integrated technology solutions, enterprise management systems and multidisciplinary professional services to municipalities, public entities and provincial government for over 40 years. Through a partnership with Amanzi, Sebata is now offering its clients a water management solution to bring water losses under control- amongst other functions. “This acquisition is in line with MICROmega’s strategy to grow its…
Paragon Diamonds Limited, the African-focused diamond development company, says it has been awarded a Mining Licence by the Lesotho Ministry of Mines for its 85% owned Lemphane Kimberlite project in Lesotho. The Licence was approved and signed by the Minister of Mines, Tlali Khasu MP, and received by the company on 11October 2013. The Licence was issued in terms of Section 33 of the terms of the Mines and Minerals Act of 2005 and is for duration of 10 years until 9 October 2023, and is renewable. The Licence is issued subject to the conditions of Section 59 (royalty) and Section 63…
African Energy Resources, the BSE listed company, says a deal is in place to acquire Mmamabula West Coal project in south east Botswana to increase its coal asset in the country known to have large reserves in the continent. In an update to shareholders, the company said together with Asenjo Energy, it has executed a binding sale agreement to acquire 2.4 billion tonne project for a cash consideration of US$ 2.5 million. “African Energy will pay an initial USD $1 million to Asenjo once the transfer of title of the relevant prospecting licence has been approved, and a further USD…
Saturday 5th October 2013 saw the return of the highly anticipated North VS. South Health Challenge and Expo, held simultaneously at Majestic Five Hotel in Palapye and at Boipuso Hall in Gaborone. Now in its third year, the initiative was developed by Botswana Public Officers Medical Aid Scheme (BPOMAS) in 2010 and held in collaboration, this year, with local fitness franchise, Jack’s Gym. Over 1000 people from across the country participated in the friendly competitive Health Challenge in which participants from the North, gathered in Palapye, were pitted against those in the South, hosted in Gaborone. Amongst the exhibitors on…
First National Bank Botswana (FNBB) showcased its dedication towards growing the understanding of property finance and the role of property finance within the industry by partaking in the Property Investment and Construction Expo 2013. The BSE listed financial services giant, a leader in the local property finance space, took part in the annual Property Expo held at Fairgrounds, Gaborone, from 10-12th October 2013 in a bid to provide Expo attendees with advice on issues of banking, finance and consulting in the property market. The Property Expo, which is the only annual business, property, finance and investment showcase event held in…
Samsung has climbed the ranks in Interbrand’s Best Global Brands Report* for 2013, ranking 8th on the global brand index with a total brand value of $39.6 billion. George Ferreira, VP and COO for Samsung Electronics Africa said they have “seen one of the highest single growth rates with 20.4% and at the core of this growth is our ability to constantly reinvent our product offerings and our ability to innovate and adapt to the changing needs of the global and African market.” Samsung continues to focus on connectivity across its portfolio including home appliances, digital cameras, and TVs in…
The Botswana Tourism Organisation (BTO) says it will host the 2013 chapter of the Explore Your Botswana Campaign, which kicks off from 21st October to 21st December 2013. “The objectives of the Campaign are to promote awareness on the Botswana Tourism product, encourage local travel for the upcoming festive season and future travels as well as to encourage consumption of the tourism product in various geographic areas in the country,” BTO said. BTO added that in a statement it will coordinate the Campaign which will be attended by various tourism operators amongst them lodges, hotels and tour operators giving them…
The Botswana Competition Authority has asked for stakeholder views on the merger between Cresta Marakanelo and United Promotional Enterprises trading as Cezar Hotel following an investigation by the regulator. The competition body said it has received a merger notification Pursuant to section 63(1) of the Competition Act (Cap 46:09), although the transaction was not sanctioned. Cresta acquired the 65 roomed hotel in the mining town for P25 million. “This follows investigations by the Authority which revealed that a merger was implemented without notifying the Authority,” Competition Authority said. “Despite the merger having been implemented without notification, the Authority is empowered…
Gem Diamonds Limited, the LSE listed company has announced the sale on tender of a rare 12.47 carat blue diamond and an 82 carat exceptional quality white diamond, both recovered at its Letšeng mine. The 12.47 carat blue diamond fetched a record price for the Letšeng mine of US$ 603,047 per carat, a total of US$ 7.5 million. The 82 carat white diamond fetched US$ 59,173 per carat, a total of US$ 4.8 million. Gem Diamonds CEO, Clifford Elphick stated that their Lesotho mine will continue to recover high quality stones. “Letšeng continues to achieve such outstanding prices for its…