Lucara Diamond Corp. said it has terminated its contract with Eqstra Botswana to provide mining related services at its Karowe Mine. Contrary to recent media reports in Botswana, the Company is unaware of any fraud or illegal activities, of its current or former employees, in relation to the mining contract. Lucara added that while the performance of Eqstra under the contract remains a subject of discussion between the parties, an orderly transition to a new mining contractor is underway. “Operations on site continue with the plant being fed with stockpiled material from the south lobe. The change in mining contractor is…
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Norilsk Nickel Mauritius and Norilsk Nickel Africa Pty Ltd said they have filed legal claims against BCL Limited and BCL Investments Proprietary Limited in the Botswana courts and in the London Court of International Arbitration to recover the USD 271.3 million (plus damages and other costs) that they are owed in relation to the sale of a 50% interest in the Nkomati JV in South Africa. Norilsk agreed in October 2014 to sell their operations in Africa to BCL for total consideration of USD 337 million. The acquisition, announced by BCL as a strategic priority as part of its high-profile…
Botswana Diamonds plc, the AIM listed diamond explorer (AIM: BOD) has announced the appointment of James Campbell as Managing Director of Botswana Diamonds plc with immediate effect. James will be based predominately in Johannesburg and will work closely with Alrosa on BOD’s Orapa and Gope licences and with the shareholders in Maibwe on the Gope discovery. Campbell is a respected leader in the diamond industry, with over 30-years’ experience of working with exploration, development and production companies. He previously worked with the Botswana Diamonds’ directors in African Diamonds where he was key to the discovery and development of the Karowe mine,…
The Provisional Liquidator of BCL Mine, Nigel Dixon-Warren has commenced the payouts of terminal benefits for ex-miners following closure of operations. The process started on 30th November 2016 and is planned to run until 16th December 2016. The liquidator said employees who were in the employ of BCL and Tati Nickel mines at the date of liquidation being 9th October 2016 have a claim against the estate for their terminal benefits and are invited to come and sign-off their benefits so as to enable payments. The terminal benefits have been calculated as per the clarifications provided by the Provisional Liquidator…
GE’s Steam Power Systems, part of GE Power has been awarded the Global Project Excellence Gold Award by the International Project Management Association (IPMA) for their work on South Africa’s Medupi Power Plant. “Our team has been working with Eskom on the Medupi Power Plant since 2007. The plant itself is the fourth largest coal-powered plant in the southern hemisphere. It has six units with a capacity of 794 MW each and an installed capacity of 4,764 MW. The GE team that has been working on this project is immensely proud of the IPMA award and recognition,” notes Lee Dawes,…
Rio Tinto has committed to generating $5 billion of additional free cash flow over the next five years from a productivity drive unveiled today as part of its long-term strategy. In a presentation at an investor seminar in Sydney, Rio Tinto chief executive J-S Jacques underlined the strategy centred around a strong focus on safety, cash generation, a world-class portfolio, commitment to capital discipline and the delivery of superior shareholder returns. Rio Tinto intends to raise productivity across its $50 billion portfolio of assets by focusing on operational excellence to generate superior shareholder returns through the cycle. This is expected…
The private jet that was bought by the BCL Mine for its business travel use by management has been disposed of, minister of Mineral Resources, Green Technology and Energy Security has disclosed. Answering a question in Parliament recently, Sadique Kebonang said the jet was bought in 2011 for P18, 012, 820. However, it was sold for a lesser price. “I was informed that it was sold prior to the liquidation. I do not have how much it was sold for but it was indeed sold before the liquidation. I can find the answers there and provide them to you,” Kebonang…
Botswana Diamonds (BOD), the company exploring for diamonds in Orapa and Gope areas said it managed to reduce losses this year as it continues to scour for precious stones in the minerals rich country. The BSE and AIM listed company stated on its Preliminary Results for the Year Ended 30 June 2016 that total comprehensive loss for the year stood at £199,846. This was better than the £372,502 reported in 2015. It recorded an operating loss of £296,404 as opposed to £335,529 on the prior year. On the other hand, BOD registered £303,254 in loss after taxation, which is better…
Mining giants De Beers said its latest rough diamond sales were the lowest for the year but was encouraged that that demand for gems was continuing. According to the diamond major’s rough diamond sales (Global Sightholder Sales and Auction Sales) it sold $470 million worth of stones. This was against the actual sales figures of $494 million reported in Cycle 8 2016. De Beers said 1 Cycle 9 2016 provisional sales value represents sales as at 14 November 2016 while 2 Cycle 8 2016 actual sales value is restated following the earlier publication of a provisional figure for the eighth sales…
African Energy Resources Limited says its environmental consultants have completed the draft amendment of the Environmental and Social Impact Statement and the Environmental and Social Management Plan for Mmamabula West integrated power project to include up to 600MW of power generation in addition to underground coal mining and surface coal processing. The company added that it was currently reviewing these documents and expects that they will be finalised for submission to the Department of Environmental Affairs (DEA) in December. “DEA will review the documents and provide comments, after which the final documents will be made available for a four‐week period…