Airbus will cease deliveries of the A380 in 2021 following declining orders from Emirates and in light of developments in aircraft and engine technologies. The European aerospace corporation said Emirates is reducing its A380 orderbook from 162 to 123 aircraft. Emirates will take delivery of 14 further A380s over the next two years. As a consequence and given the lack of order backlog with other airlines, Airbus will cease deliveries of the A380 in 2021. Emirates has also decided to continue growing with Airbus’ newest generation, flexible widebody aircraft, ordering 40 A330-900 and 30 A350-900 aircraft. “As a result of…
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Moscow: The Botswana Court of Appeal has handed down a judgement in favour of Nornickel ruling that the dispute between the Russian company and Botswana’s BCL Group over the failed sale of Nornickel’s interest in Nkomati must, in accordance with the parties’ initial agreement, be brought before the London Court of International Arbitration (LCIA). Nornickel agrees with the conclusion of the Botswana Court of Appeal that a denial of permission for LCIA proceedings would have resulted in serious injustice as it would have prevented Nornickel ever proving its claims. The LCIA will now have to determine whether all conditions precedent to the Transaction had been fulfilled and to assess the damages to be paid by the BCL Group to Nornickel. Michael Marriott, Norilsk…
The recent gas condensate discovery by Total South Africa, 175km off the southern coast of South Africa, has set the stage for a significant contribution to the nation’s economic development as it will assist in reducing dependency on imports of oil and gas, notwithstanding the considerable reserves believed to exist in its territorial soil and waters. The discovery will support the launch of a new hydro-carbons province in the country, which could attest to the equivalent of billions of barrels of oil in South Africa’s oceans. This discovery is believed to be a catalyst and motivation for policy makers to…
Basil Read Mining (Pty) Ltd said its wholly owned subsidiary, Basil Read Mining Botswana (Pty) Ltd, has entered into an agreement with Thiess Botswana (Pty) Ltd. and Bothakga Burrow Botswana (Pty) Ltd. to sell BRMB’s 28% interest in the Majwe Mining Joint Venture (Pty) Ltd. to the two. The total purchase consideration is P 85 million or approximately R110 million. “BRMB will sell 28 ordinary shares constituting 28% of the issued shares of Majwe for an amount of BWP 85 000 000 (approximately ZAR110 500 000) of which Thiess will purchase 10 ordinary shares constituting 10% of the issued shares…
Tlou Energy says it has commenced drilling of development wells at its gas field in Botswana late 2018 as ‘dual lateral pods’, comprising a single vertical production well intersected by two lateral wells. According to Botswana Stock Exchange listed budding energy developer, “the lateral wells are being drilled through the gassy coal seam with gas extracted from this coal produced through the vertical production well where it can be gathered and used for power generation.” The company said Pod One is designated ‘Lesedi 3’ and comprises a vertical production well (‘Lesedi 3P’) and two lateral wells (‘Lesedi 3A’ & ‘Lesedi…
Greenpeace Africa has submitted comments to Naledzi Environmental Consultants [1] opposing Eskom’s application for postponements and suspensions from complying with South Africa’s Minimum Emission Standards (MES). The MES, which are relatively weak, are designed to improve air quality in the country, but this has been significantly compromised by Eskom’s almost complete reliance on coal for electricity production and repeated requests for postponements from complying. “Greenpeace Africa is vehemently opposed to Eskom’s application for further postponements and/or suspensions from air quality legislation. In the interests of realising our constitutional right to a healthy environment, absolutely no further postponements should be given…
Nornickel has terminated its agreement to sell African assets to BCL Group, including a 50 percent stake in the Nkomati joint venture. The notice of termination was submitted to BCL on 20 December 2018. The termination results from BCL Group’s serious breaches of contract. Nornickel’s termination of the agreement means that it will no longer be requiring the BCL Group to purchase Nornickel’s interest in the Nkomati joint venture. Instead, Nornickel will continue to seek damages from BCL for the significant loss it has suffered as a result of BCL’s failure to honour its obligations. The termination of the agreement will also enable Nornickel to pursue its own strategy for the African assets. Michael Marriott, Norilsk Nickel Africa’s Chief Executive, said: “We delivered on all of our obligations to the…
With Batswana eagerly awaiting the opening of the new Hilton Garden Inn Gaborone, excitement in the capital is at an all-time high. Sneak peeks at what one can look forward to are going live on the hotel’s social media platforms, and the reception has been nothing short of electrifying. So, what can Batswana and visitors to the beautiful city of Gaborone expect from this gem in the CBD? Says Hilton Garden Inn Gaborone General Manager, Evan Harrington, “Excitement is certainly high and we cannot wait to open our doors. Hilton Garden Inn is a midscale brand that focuses on providing ‘simple…
Lucara Diamond Corp. has announced the recovery of a 240 carat, top white gem diamond from its 100% owned Karowe Diamond Mine located in Botswana. This diamond will be shown alongside the 127 carat, top white gem diamond reported earlier this year together with other exceptional diamonds recently recovered from Karowe, at Lucara’s upcoming diamond tender closing on March 7, 2019. Since mining began at Karowe in July 2012, a total of 54 diamonds in excess of 200 carats have been recovered, including 12 diamonds larger than 300 carats in size. In addition, Lucara has sold 180 diamonds in excess of $1 million each and ten…
De Beers says its rough diamond production increased 12% to 9.1 million carats in the fourth quarter of 2018, bringing total production for year to 35.3 million carats due to a planned production increase at Orapa mine, although this was in the lower half of the production guidance range of 35 to 36 million carats. At Debswana, the diamond miner revealed that production increased 15%to 6.3 million carats. Orapa production increased 20% to 3.6 million carats, driven by planned favourable grade and higher plant utilisation. “Jwaneng production increased nine per cent following an increase in tonnes treated,” the company said in an update. Production increased…