Shares in Minergy Limited were listed on the Botswana Stock Exchange following the raising of P 72 million through a private placement. The shares were listed to raise development funding for the company’s wholly owned subsidiary, Minergy Coal (Pty) Ltd who owns the Masama Coal Resource, located in the south-western corner of Botswana’s Mmamabula coalfield. Minergy plans to build an opencast coal mine with the potential to produce2,4 Mtpa within 16 -18 months of the BSE listing. The company will focus on delivering high quality coal to the regional market, including Botswana and South Africa, and possibly the export market.…
Author: Editor
Gem Diamonds Limited (LSE: GEMD) said it has recovered a high-quality 80 carat, D colour Type II diamond from the Letšeng mine in Lesotho. The announcement follows the news on 7 April of the recovery of a 114 carat diamond from Letšeng, the highest dollar per carat kimberlite diamond mine in the world. A photograph of this latest high-quality diamond can be found on the Gem Diamonds website. Commenting on this recovery CEO Clifford Elphick said: “Although this 80 carat diamond is not of the very large size for which Letseng is renowned, it is one of the highest quality diamonds recovered at the Letseng mine…
Norilsk Nickel has served notice that it intends to commence legal proceedings in Botswana against the Government of Botswana in respect of its involvement in the reckless trading of BCL Limited and BCL Investments Proprietary Limited (together “BCL”), with a view to recovering the c. USD 271 million (plus damages and other costs) that they are owed in relation to the sale of a 50% interest in the Nkomati mine in South Africa and the USD6.4 million they are owed in relation to the sale of the Tati mine in Botswana. The Government of Botswana is the ultimate shareholder of…
African Ministries from Democratic Republic of Congo (DRC), Botswana, Burkina Faso, Ethiopia, Gabon, Madagascar, Morocco, Rwanda and Zimbabwe have confirmed to attend the Africa Energy Forum (AEF) to date, which is set to welcome 2,000 decision-makers in Africa’s energy sector to Copenhagen this June. AEF is the annual meeting point for Africa’s energy sector for decision-makers to explore investment opportunities, form partnerships and sign deals. His Excellency Dr Matusila Malungeni, Minister of Energy and Hydraulic Resources, Democratic Republic of Congo (DRC) is the latest to confirm his attendance. With the objective of securing positive economic & social outcomes for the…
TSX-listed Giyani Gold Corporation said it has acquired six new prospecting licenses that encompass the past producing Kgwakgwe Hill Manganese Mine located in the Kanye Basin, Southeastern Botswana. According to the company, binding agreements have been signed with Everbroad Investments (Pty) Limited and Marcelle Holdings (Pty) Limited to acquire an 88% interest in PL322/2016 (Kgwakgwe Hill License) and 100% interest in PL336/2016 to PL340/2016 (adjacent to Kgwakgwe Hill) inclusive by making cash payments totaling US$75,000. The Kgwakgwe Hill project covers a supergene system containing high-grade manganese nodules. Manganese ore mined from 1957 to 1967 at Kgwakgwe Hill consisted almost…
The Travel and Tourism Competitiveness Report for 2017 has been released by the World Economic Forum (WEF) under the theme, “Paving the Way for a More Sustainable & Inclusive Future”. This theme reflects the increasing focus on ensuring the industry’s sustained growth in an uncertain security environment while preserving the natural environment and local communities on which it so richly depends. According to the report, Botswana continues to improve in both the ranking and quality score, it is ranked 85th out of 136 countries compared to 88th out of 141 countries in 2016. This shows an improvement of three places…
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”) said three of its key prospecting licences have been successfully renewed for a further two-year term. The Lesedi project consists of five CBM prospecting licences in Botswana covering an area of approximately 3,800km2. These licences are currently the focal point for the Company’s operations and include the Selemo project area where the company has been producing gas for an extended period. Renewal applications for three key prospecting licences (PL 001, 002, 003/2004) were submitted…
Barrick Gold Corporation says it has entered into a strategic cooperation agreement with Shandong Gold Group Co., Ltd., the leading underground mining company in China, based in Jinan, Shandong province. As a first step in the new partnership, Shandong Gold Mining Co., Ltd, the listed company of Shandong Gold Group, will acquire 50 percent of Barrick’s Veladero mine in San Juan province, Argentina, for $960 million. As a second step, Barrick and Shandong will form a working group to explore the joint development of the Pascua-Lama deposit. As a third step, both companies will evaluate additional investment opportunities on the…
Exploration company Botswana Diamonds (BOD) said it has completed the first phase of drilling at the flagship Vutomi project in Frischgewaagt, which is located 280km north of Johannesburg. According to the AIM listed company, 34 percussion and 9 diamond drill holes have completed on the kimberlite dyke, two “blows” discovered on the kimberlite dyke system from the programme while high interest olivines, G10 and G9 garnets were recovered. BOD noted that samples have been submitted for microdiamond analysis, with results expected within two months. It said the geology is very similar to the high value Marsfontein mine, located 20km away.…
Eskom and Botswana Power Corporation (BPC) have signed a three-year firm power supply agreement, a move that is in line with Eskom’s plan to increase its electricity exports to South Africa’s neighbouring states. Eskom currently has excess capacity of about 4000 MW, excluding an operating margin. Last Friday, Eskom’s Interim Group Chief Executive, Matshela Koko met his BPC counterpart Dr Stefan Schwarzfischer to conclude the power supply agreement and to discuss other areas of potential co-operation. “The conclusion of this agreement serves to demonstrate our commitment to the SADC region to provide energy security and certainty with regard to…