The Government of Sierra Leone is pleased to announce the appointment of The Rapaport Group as the marketing and sales agent of the Peace Diamond. This 709 carat diamond, discovered by diamond diggers in the village of Koryardu, is the 3rd largest diamond ever found in Sierra Leone and 14th largest worldwide. The Peace Diamond is special because it is a development diamond. Over 50% of its sales value will directly benefit the community where the diamond was discovered and the people of Sierra Leone. An international online press conference for the Peace Diamond will be held on Tuesday, October…
Author: Editor
Glencore has entered into an agreement with Off The Shelf Investments Fifty Six (RF) Proprietary Limited (OTS) to acquire from OTS (i) a 75% stake in Chevron South Africa Proprietary Limited (Chevron SA) and certain related interests and (ii) the entire issued share capital of Chevron Botswana Proprietary Limited (Chevron Botswana) (together the Assets and these companies together the Companies) following closing of OTS’s exercise of its pre-emptive right to acquire the assets from the Chevron group. During its acquisition process Glencore will be supporting OTS as their technical and financial partner. The aggregate consideration (subject to adjustment for debt…
Diamond prices softened in September as suppliers worked to liquidate old stock. Sentiment improved as trading returned to normal at the Hong Kong Jewellery & Gem Fair, with steady demand for goods at lower prices. The RapNet Diamond Index (RAPI™) for 1-carat diamonds slid 0.7% in September and 2% during the third quarter. The index is down 4.5% since January 1, and has dropped 7.4% in the past 12 months.The Rapaport Monthly Report – October 2017 notes that lower prices have presented buying opportunities for jewelers at a time when they require inventory for the holiday season. Manufacturers’ profit margins…
Yet another man made catastrophe is landing on Botswana shores soon. This October 07, 2017 courtesy of Spin-city Botswana and Emergency Assist Motor Club, an earthquake is coming to Botswana. Fairground Spincity Palace is the place to be and for the first time in the spinning motorsport industry of Botswana we will have two Ben 10 spinners, side by side. When these teenage spinners meet, havoc ensures. It will be a dog eat dog battle when Team Austin from Mafikeng faces Team BGB from Pretoria live in Gaborone. Austin who is a highly respected and known spinner in Botswana and…
The Regional Tourism Organisation of Southern Africa (RETOSA) hosted a record number of its Japanese market stakeholders at its Networking Reception at the end of the 2nd day of trading at the 2017 Tourism Expo Japan on the 22 September 2017. In her welcoming address, the Chairperson of the Tourism Sub-Committee of the SADC Ambassadors in Tokyo, Zambian Ambassador, Ndiyoi Mutiti encouraged all the tour operators and travel agents present to sell the unique SADC tourism experiences. ‘The role of my office is to coordinate the efforts of RETOSA and the SADC group of Ambassadors based in Tokyo Japan in promoting our Region…
The Index of Mining Production (IMP) went up in the second quarter of the year on the back of rise in production in diamonds and coal. The quarter-on-quarter analysis reflects an increase of 13.2% from 77.1 during the first quarter of 2017. The leading contributor to the increase in mining production was diamonds contributing 11.1 percentage points to the overall increase. According to Statistics Botswana’s Indices of the Physical Volume of Mining Production Second Quarter 2017, the IMP stood at 87.3 in the second quarter of 2017 showing a year-on-year increase of 1.5% from 86.0 during the second quarter of…
Lucara Diamond Corp. has announced that the historic 1,109 carat Lesedi La Rona recovered from the Karowe mine in Botswana in November 2015 has been sold for US$53 million (US$47,777 per carat) to Graff Diamonds. The magnificent stone, which originated from the south lobe of Lucara’s Karowe Mine, is the world’s second largest gem quality diamond ever recovered and the largest ever to be recovered through a modern processing facility. The stone was recovered by the newly installed Large Diamond Recovery (“LDR”) XRT machines. The stone measures 65mm x 56mm x 40mm in size and is the largest ever to…
The Botswana Chamber of Mines (BCM) believes the country can expand the scope of minerals beneficiation to include copper and coal. Speaking at a panel discussion during the recent Electra Mining 2017, chief executive officer of the chamber Charles Siwawa said if diamond beneficiation has been successful since the relocation of De Beers’ Sightholder activities from diamond cities around the world to Gaborone, “we can also do the same for other minerals”. Siwawa singled out copper and coal especially where there is already advanced work on exploration and mine developments. In the copper circuit, a prefeasibility study for a smelter…
Tlou Energy Limited, the AIM and ASX listed company focused on delivering power in Botswana and southern Africa through the development of coal bed methane (CBM), says it has submitted its response to the Request for Proposal (RFP) from Botswana’s Ministry of Mineral Resources, Green Technology and Energy Security for the development of up to 100MW of CBM fuelled pilot power plants in Botswana. The company said its proposal was submitted as planned prior to the deadline of 20 September 2017, and was accepted by the Ministry, with the bid involving the development of CBM Gas to Power in an incremental manner. The submission…
De Beers Group has announced a three-year partnership with UN Women to accelerate the advancement of women across its organisation, in its diamond producing countries and in its marketing. As a UN Women partner, De Beers has committed to achieving parity in the appointment of women and men into senior leadership roles, investing in women micro-entrepreneurs and STEM students in its diamond producing countries and ensuring De Beers’ brands are a positive force for supporting gender equality through all its marketing campaigns. Working alongside UN Women, governments and communities in its diamond producing countries of Botswana, Canada, Namibia and South…