Anglo American says mine disaster at the Debswana’s Jwaneng mine was the main cause of the decline in the diamond production for the group in the third quarter ending 30 September 2012. The slope failure at the world’s largest producer of gem diamonds saw the suspension of operations so that an investigation can take place. In an update, Anglo American, which recently bought Oppenheimer stake in De Beers said this disaster together rough diamond market contributed to the fall in production. “Diamond production decreased by 31% to 6.4 million carats, largely in response to market conditions and the Jwaneng slope…
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Aviva Corporation Ltd says following receipt of Kenyan Competition Authority approval, it has now completed the sale of Aviva Mining (Kenya) Limited to African Barrick Gold Plc. The initial A$20 million received by Aviva for the sale of AMK equates to approximately 12 cents per issued Aviva share and reflects the net proceeds for this transaction. Aviva will receive an additional A$10 million in cash from the sale if a National Instrument 43-101 compliant indicated resource of 3 million ounces or more is declared over AMK’s project areas at any time in the future. If triggered, this further payment equates…
African Energy Resources Limited, the company developing Sese Power Project says it has signed a Memorandum of Understanding with a significant international engineering, procurement and construction contractor in relation to the proposed 300MW coal‐fired power project and associated mine. The company update says the agreement is for the EPC Contractor to provide engineering and consultancy services to assist AFR in the completion of its Bankable Feasibility Study for the Sese Power Project. “Also for the engineering, procurement and construction of the Sese Power Project, of which would be subject to a number of conditions, including the raising of adequate project…
Anglo American plc announces that Cynthia Carroll has decided to step down as Chief Executive, with the Board’s agreement. Cynthia will remain in her post until a successor has been appointed and an appropriate transition has taken place. Cynthia Carroll was appointed to the Anglo American Board in January 2007 and formally took over as Chief Executive in March of that year. Under Cynthia’s leadership, after a record year in 2008, the Group successfully weathered the global financial crisis. In 2011, Anglo American again achieved record profits, for the Group as a whole and in four of its seven Business…
Wilderness Holdings, the listed tourism major says it will publish its results on 30, October 2012 and it is expected to report higher results than the previous period. The group interim results will be for the six months ended 31 August 2012 are likely to be significantly higher than those achieved in the six months ended 31 August 2011. ‘This is attributable to a number of factors, most importantly the weaker local currencies which translated into higher reported revenues and also to a reduction in the impairment of assets,” says the company on its website. “Thus shareholders are advised to…
outh Africa looks forward with excitement to welcoming Batswana football fans and celebration junkies to South Africa in January 2013, when 16 African countries battle in five South African cities to lift the most coveted prize in African football—the Africa Cup Of Nations (AFCON) trophy. South Africa already has a solid reputation for hosting world class sporting events, such as the 2010 Fifa World CupTM and the T20 Cricket World Cup. With AFCON 2013 just around the corner, South African Tourism is bringing the rhythm of AFCON to Gaborone. South African Tourism was at the Airport Junction Mall in Gaborone…
At the Samsung World Tour event held recently at the Cape Town International Convention Centre in Cape Town, South Africa, Samsung introduced the GALAXY Note II, a whole new level of innovation for the GALAXY Note category. The new Samsung GALAXY Note II enables unique experiences in personalised and expressive content creation; making it the ultimate smartphone for on-the-go creativity. “Last year we launched the GALAXY Note, which opened a new category of smart mobile devices. This year, again, I am proud to announce the GALAXY Note II, which will encourage users to ‘unleash their inner creativity,” said George Ferreira,…
IOM has handed a fully equipped Migration Management National Training Centre to the Government of Botswana. Edwin Batshu, Botswana Minister of Labour and Home Affairs and Bernardo Mariano, Regional Director for IOM in East and Southern Africa attended the handover ceremony. The National Training Centre which is based at the Ministry of Labour and Home Affairs Headquarters was established under the project: “Capacity Building for Migration Management in Botswana” funded by IOM Development Fund whose main objective was to enhance the capacity of Botswana’s Immigration service to better manage migration and improve border efficiency. This training facility will help the…
Following complaints by the business community regarding cumbersome and lengthy procedures for payment of annual fees for existing business, BOCCIM has met with the Ministry of Trade & Industry to resolve the impasse in the spirit of reducing the cost of doing business in Botswana. One major area of concern that has been brought up by BOCCIM was the slow process of inspections to obtain a license, it has been agreed that health inspections of businesses would now take place 3 months prior to the license expiry date and this in effect should not delay the revalidation of the license.…
Aviva Corporation Ltd, the Botswana Stock Exchange listed company said it has received Kenyan Competition Authority approval for the sale of Aviva Mining Kenya Limited to African Barrick Gold plc. On 23 July 2012 Aviva announced that it had entered into a binding sale and purchase agreement with ABG for the sale of AMK for an initial cash payment of A$20 million. Under the SPA, there is a further payment of A$10 million due to Aviva if a National Instrument 43-101 compliant indicated resource of 3 million ounces or more is declared over AMK’s project areas. The approval of the…