Firestone Diamonds, the international diamond mining and exploration company with operations focused on Lesotho and Botswana has announced the results of two diamond tenders held during February and April 2013.The company noted that there were total sales of 55,950 carats realising revenues of approximately US$5.1 million. The February 2013 tender sold 35,718 carats and realised revenues of US$3,016,351 (an average of US$84.49 per carat) while the April 2013 tender sold 20,232 carats and netted US$2,056,871 in revenues (an average of US$101.67 per carat). There was a 20% increase in average price per carat to US$101.67 in April 2013 compared to…
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Standard Chartered Bank Botswana on 8th May held a 2012 results presentation to local analysts from various firms. The results show that the bank has managed to maintain sustainable and consistent growth despite the current global economic conditions. There are clear signs of recovery indicated in the results and Standard Chartered Bank Botswana has been successful in carrying out its strategy to further improve its performance. The Bank posted a robust set of results against a challenging climate of micro-economic and currency headwinds, a testament to the resilience of the Bank’s balance sheet and income streams. The results revealed an…
African Copper produced a record 2,429 Mt of copper in concentrate from its 100%-owned mines in Botswana in the fourth quarter. All of the ore processed at the Mowana facilities during FY 2013 was sourced from the higher grade sulphide ore rich Thakadu Mine. Ore processed in the fourth quarter was lower than the third and second quarters as a result of lower ore production following a change in mining contractors which was highlighted during the third quarter results announced on 24 January. During March, ore production improved, and mining took place in the wider, higher grade eastern part of…
African Copper, the Botswana Stock Exchange quoted company said its main shareholder, ZCI Limited has halted its decision to unlock value from its investment in the company with key assets in Botswana. ZCI earlier this year advised that it has initiated a process intended to unlock value from its investment in African Copper. African Copper then issued a cautionary where it is listed a move that has now been withdrawn. “Shareholders are advised that the board of ZCI (the Board) has elected to suspend the aforementioned process in light of the effect of adverse global market conditions on junior mining companies…
Continental Coal Limited, the South African thermal coal production, development and exploration company has advised that completion and financial settlement of the strategic financing transaction with South African based diversified mining company Village Main Reef Limited (VMR) has now occurred. Continental and VMR had entered into binding financing agreements, whereby VMR would subscribe for 100 million ordinary shares in Continental at an issue price of A$0.08 per share, raising a total of A$8.0m and establish and fund a mechanism for the sale of parcels of shares held by shareholders with a market value of less than $500 (being shareholdings less…
The Botswana Investment and Trade Centre has launched its Corporate and Brand strategies as the organisation begins its new life outside Botswana Export Development and Investment Authority and Botswana International Financial Services Centre, the two agencies that were merged in last year. The launch of the new look image coincides with BITC first anniversary, a journey that began on April 1, 2012 when BEDIA and IFSC merged as a result of the Government Rationalization Strategy. BITC Board Chairman Victor Senye said the first board challenge was to bring the agency off the ground, institutionalize it and develop sound processes and…
Bank of Botswana has alerted the public that Botswana Police has discovered some fake P200 banknotes in circulation. The central bank said the counterfeits are scanned copies of P200 banknotes bearing serial numbers AA 5784037, AB 7381030 and AB 8508607. In a statement, BoB noted that the holographic stripes and the windowed security threads on the counterfeits appear as dark patches on the front and at the back. Furthermore, the counterfeit banknotes are made of ordinary commercial paper and, therefore, have a smooth surface when compared to genuine banknotes. “A genuine P200 has a holographic stripe appearing as a wide…
The Minister of Environment, Wildlife and Tourism, Tshekedi Khama has lauded the Debswana Orapa, Letlhakane and Damtshaa Mines (OLDM) management for its inspiring leadership with respect to Community and Sustainability, at Debswana’s largest operation. Speaking in Orapa where he met the OLDM General Manager and his team last week, Khama said “It is impressive that OLDM has done tremendously well in the areas of safety, health and community development, among others. The way you conduct business here is an example to all others, and we will magnify your achievements for others to learn and emulate for the benefit of the…
Samsung Electronics Co., Ltd., a global leader in digital media and digital convergence technologies, and film visionary Baz Luhrmann, today announced a partnership created to bring passion to life through innovation and technology. At the onset of this partnership is the unveiling of an exclusive short film, created by Lurhmann, which highlights his artistic inspirations and illustrates how technology has enhanced his creative process. Samsung also announced today its official sponsorship as the exclusive technology partner at the premiere of Warner Bros. Pictures’ and Village Roadshow Pictures’ highly anticipated film adaptation of “The Great Gatsby,” in New York City on…
Debswana Jwaneng Mine has started the first 2013 instalment of the Jwaneng Premier Safety, Health & Environment League (JPSL) Awards. The event was held at the Jwaneng Showgrounds, with participants from JPSL, the mine staff and contractors, recognized and awarded for their dedication and adherence to a culture of zero harm as punted by the mine’s Safety, Health And Environment (SHE) department. This was the second ever awards event since the inception of JPSL in June 2012. The first season of the year, kicking off in January and concluding in April, saw 27 teams battle it out to take home…