Gem Diamonds Limited said it has entered into a binding agreement with Pro Civil (Pty) Ltd for the sale of 100% of the share capital of Gem Diamonds Botswana Proprietary Limited (GDB). Pro Civil is a company registered in Botswana. GDB’s primary asset is the Ghaghoo diamond mine in Botswana which has been on care and maintenance since March 2017, and which is wholly owned by GDB. GDB reported for the period ended 31 December 2018, loss before tax of P49.5 million (US$ 4.9 million) and, as at the same date, had gross assets of P42.3 million (US$ 3.9…
Author: Editor
After the first two rounds of the 2019 South African National Cross Country Series (SACCS), the standings in the Production Vehicle Championship are too close for comfort and the Toyota 1000 Desert Race (TDR 1000), that takes place over three days on 21, 22 and 23 June in Botswana, could be a turning point for many. The fact that the race has moved the challenge will include all-new terrain and the lure of double points will add to the pressure. Intense battles can be expected in all three the classes in the Production Vehicle category and the distinctiveness of the…
The Botswana Diamonds (BOD) says its associate Vutomi (BOD 40%), on 7th June 2019 received permission to sell diamonds recovered during bulk sampling at their Thorny River project. Up to Monday 10th June, 256 carats of rough diamonds had been recovered. The sale of diamonds from bulk sampling will enable funding of further development by Vutomi. Operations at Thorny River Trenching by Botswana Diamonds has identified a ‘hotspot’ at Thorny River with a thick kimberlite intersection of four metres wide, suggesting a ‘kimberlite blow’. 256 carats of rough diamonds have already been recovered from re-commissioning the processing plant. The bulk sampling programme will…
In response to South Africa’s national power utility Eskom’s challenge to meet the nation’s energy demand, alternative energy sources are being thoroughly explored and it appears that an answer to South Africa’s short, medium and long-term energy supplies lies in renewables. South Africa is recognised for having abundant natural energy sources, including a sunny climate with the capacity to produce an ample supply of solar energy. The recent load shedding presents unrivalled opportunities for rooftop solar entities. It is crucial that manufacturers are educated on the extensive benefits that solar holds in store for their businesses and the annual Manufacturing Indaba serves…
Kalahari Energy Botswana through its wholly-owned subsidiary Sekaname (Pty) Ltd, has been notified by the Ministry of Mineral Resources, Green Technology and Energy Security that it has been awarded Preferred Bidder status for the construction of a CBM-fuelled, IPP-owned power plant in Botswana. This notification follows from the Group’s submission in October 2018 to tender “for the development of a maximum of 100 MW coal-bed methane fuelled power plants in Botswana as an Independent Power Producer”. Sekaname submitted a bid for 97MW and its rival in the closed tender process – Tlou Energy – submitted a bid for 2MW scalable…
The world’s 40 largest mining companies continued to consolidate their stellar performance of the past several years by delivering steady growth in 2018 according to PwC’s Mine 2019 report. As a group, the Top 40 increased revenue by 8%, buoyed by higher commodity prices and marginally improved production. They also boosted cash flows, paid down debt and provided a record dividend to shareholders of $43 billion. Forecasts indicate continued steady performance in 2019. Revenue should remain stable, with weaker prices for coal and copper offsetting marginally higher production and higher average prices for iron ore. Yet investors seemed unimpressed by the…
“Funds raised from diamonds have not just built our roads, but also our people,” Dr Mokgweetsi Masisi, President of the Republic of Botswana, said as he opened JCK Las Vegas 2019 in a keynote speech delivered at a breakfast hosted by De Beers Group. President Masisi, the fifth President of the Republic of Botswana, explained to the audience that for his country – one of the world’s leading diamond producing nations – diamonds are the lifeblood of the national economy and the key to future economic diversification and transformation.“With a contribution of approximately 35 per cent of our GDP coming…
South African national carrier, South African Airways says its Group Chief Executive Officer, Vuyani Jarana has resigned. Since he joined SAA in November 2017, Jarana has spearheaded the implementation of the long-term strategy to return the airline to financial and operational sustainability and position it to deliver effectively on its mandate. “The Board of South African Airways (SAA) has accepted the resignation of Mr Vuyani Jarana, Group Chief Executive Officer,” said SAA. “On behalf of the Board, I would like to thank Mr Jarana for his service and commitment to the airline. He contributed to returning confidence and credibility to…
The rebuild of Wilderness Safaris King’s Pool Camp, due to open mid-June 2019, is a reaffirmation of the company’s commitment to driving sustainable ecotourism in Botswana’s Linyanti, and protecting vital wildlife corridors that transcend country borders along the Kavango-Zambezi Transfrontier Conservation Area (KAZA TFCA). “At King’s Pool, biodiversity conservation has remained the core of our purpose since we opened in 1995. With the Linyanti situated at the fulcrum of the KAZA TFCA, we have always understood the part that we play in the preservation of this pristine wilderness area. Having the world’s largest elephant meta-herd and many other species passing…
NYSE listed Hilton has announced the signing of a management agreement with Growthpoint Properties, South Africa’s largest REIT, to open a hotel under its lifestyle Canopy by Hilton brand. The 150 guestroom Canopy by Hilton Cape Town Longkloof is expected to begin welcoming guests in 2021 and will be the brand’s debut property in Africa. Canopy by Hilton launched in 2014 to appeal to travelers seeking locally inspired stays and wishing to immerse themselves in the culture and history of local neighbourhoods. It currently operates in nine destinations around the world with more than 35 properties in the pipeline, aiming…