Cupric Canyon Capital has named Johan Ferreira as Head of African Operations and Managing Director of Khoemacau Copper Mining. Ferreira will lead the development of the Khoemacau copper/silver project in Botswana with construction beginning towards the end of this year. Initial production from the new mine will average 50,000 tonnes of copper and 1.4 million ounces of silver per year over a mine life that exceeds 25 years. Future expansions are expected to increase annual production to over 100,000 tonnes of copper and 3 million ounces of silver.Ferreira began his mining career with Anglo American in 1986, and from 2005 to…
Author: Editor
New disruptive technologies are changing the way that energy generation and distribution is understood and funded in Africa. These changes have profound implications, far beyond the energy sector. African policy makers, governments, banks, investors and global funders need to take stock of these changes and re-look at how energy is conceived and managed on the continent. “The good news is that technology-driven change is likely to see Africans play a far larger role in building, shaping and benefitting from energy on the continent,” says Rentia van Tonder, Head, Power at Standard Bank. New technologies are set to expand access to…
Total diamond jewellery demand from US consumers increased 4.4% in 2016 to exceed US$40 billion for the first time, according to industry insight data published today by De Beers Group. While slower US GDP growth in the first quarter of 2017 is likely to have impacted diamond jewellery demand in the short term, the US has recorded five years of consecutive demand growth. US consumers now account for roughly half of all diamond jewellery purchases globally – a level not seen since before the financial crisis. Although bridal diamond jewellery continues to be the foundation of demand in the US,…
State-owned Botswana Power Corporation (BPC) has issued an Expression of Interest (EOI) to the market in a bid to seek partners with companies for the development, implementation and operation of a 100 MW Solar Power Plant with suitable storage capacity. According to the power utility, the plant will be located in Botswana, and the new formed Joint Venture will sell its power to BPC through a Power Purchasing Agreement (PPA). “…..To address the power supply challenges and to meet the future electricity demand, the Botswana Power Corporation (BPC) in conjunction with the Ministry Of Minerals, Green Technology and Energy Security…
Galane Gold Ltd. has entered into a letter of intent (LOI) for the acquisition of all of the outstanding shares of Vantage Goldfields Limited, a gold mining company with operations in the Mpumalanga Province of South Africa. The company said the letter establishes the terms of the acquisition as between the parties and is expected to be followed by the execution of a binding acquisition agreement setting forth the detailed terms of the acquisition and containing conditions customary in transactions of this nature including completion of satisfactory legal and technical due diligence, delivery by Vantage of a 43-101 technical report…
TSX-Venture Exchange-listed Tsodilo Resources Limited said its Botswana subsidiary, Bosoto (Pty) Ltd., has been granted prospecting licence PL217/2016 in the Orapa Kimberlite Field in Botswana. PL217/2016 is located within the OKF in Botswana. The diamond mines in Botswana have produced an average of 27 million carats annually in the last 10 years and Botswana is the world’s largest producer of diamonds by value. In 2016, the OKF area produced 8.85 million carats. Of the 83 known kimberlite bodies in the OKF, eleven have been or are currently being mined. These are AK01 with AK02 and AK07 (Orapa, Debswana), AK06 (Karowe,…
With 80% of this year’s route virgin territory competitors on the Toyota Kalahari Botswana 1000 Desert Race from June 23 to 25 will face additional challenges on an event that annually brings Botswana to a standstill. Thebiggest sporting and social event in Botswana is round three of the South African Cross Country Series (SACCS) Auto championship and rounds three and four of the Moto championship. A busy weekend of motor racing is rounded out by two rounds of the Botswana Motorsport championship on June 24 and 25. The race also includes a round of the prestigious Dakar Challenge, run in conjunction with several…
Firestone Diamonds plc, the AIM-quoted diamond company said it has entered into a conditional option agreement for the potential disposal of its Botswana operations, which include its interest in the BK11 mine, to Amulet Diamond Corporation for a total potential consideration of US$5.1 million in cash. Amulet will acquire an option, effective from 1 June 2017 for a period of up to 14 months, to acquire Firestone’s wholly owned subsidiary Firestone Diamonds (Botswana) (PTY) Limited and its 90% interest in Monak Ventures (PTY) Limited together the Botswana Companies, which hold Firestone’s interests in Botswana. Pursuant to the option agreement, US$0.1 million is payable immediately with the balance,…
London Stock Exchange listed Gem Diamonds said it has recovered a 98.42 carat high quality D-colour Type II diamond at its Lesotho’s Letšeng mine which will be sold in June. According to the company’s Trading Update detailing the Group’s operational performance for the Period from 1 January 2017 to 31 March 2017, three tenders were been held in 2017. A total of 39 950 carats were sold for US$ 65.4 million, achieving an average price of US$ 1 636 per carat (full year 2016 – US$ 1 695* per carat). The company said contributing to the achieved US$ per carat was an 8.65 carat pink…
The African Development Bank, in collaboration with the African Union Commission and the World Economic Forum, launched on Friday, May 19, 2017, the second edition of the Africa Visa Openness Index, ahead of the Bank’s Annual Meetings in Ahmedabad, India. The Index measures how open African countries are when it comes to visas by looking at what they ask of citizens from other African countries when they travel. It aims to show at a glance which countries are facilitating travel for citizens of other countries and how: whether they allow people to travel to their country without a visa; if travelers…