Botswana Diamonds (BOD) said it has raised £500,000 (before expenses) via the placing of 33,333,333 new ordinary shares with new and existing investors at a price of 1.5p per Placing Share. The Placing Shares represent approximately 9.9% of the company’s issued share capital as enlarged by the Placing. According to BOD, the net proceeds of the placing will fund ongoing diamond exploration in Botswana which is being operated by Alrosa, the Company’s 50:50 joint venture partner, and will also provide the Company with additional working capital. “The Placing shares will rank pari passu with the Company’s existing ordinary shares of…
Author: Editor
Pangolin Diamonds Corp. has provided an update on its exploration programme at the MTS Grid in Botswana. The MTS Grid is a defined area of 1.5 km2 within the Company’s wholly-owned Malatswae Diamond Project, located 105 km southeast of the Karowe Diamond Mine operated by Lucara Diamond Corporation. Thirteen diamonds have now been reported from Malatswae, with the last three derived from the MTS Grid. The two latest diamond finds are from two samples collected less than 110 metres apart, and approximately 600 metres west of the first diamond reported from the MTS Grid. The diamond from sample MTS-DG-187 is a…
BIHL Group employees have worked with the BIHL Trust to bring to life the true spirit of compassion and botho by supporting a former colleague who has since come under hard times. The Trust on Friday 29th April 2016 handed over a fully developed house in Kanye to Banabotlhe Hetolang, a 45-year-old single mother, who lost her sight shortly after leaving the BIHL family. The BIHL Sports & Social Club, of which Hetolang was a passionate member, identified the need to support their fellow colleague and friend a number of years ago. Each year, the Club helps Hetolang through provision…
BCL, the Botswana government owned copper/nickel miner said survival hinges on the success of its business reorganisation project. The Selebi-Phikwe based company, together with other peers globally, faces bleak future on the back of collapse in commodity prices. The company’s Managing Director, Dan Mahupela told journalists recently in Gaborone that they have been affected by the drop in commodity prices with nickel coming down from a 10 year average of 9.2 USD/Ib to 4.0 USD/Ib currently, which represents a “significant” 57% loss in value. “For BCL to survive the current down turn, the company has to change and operate at…
Populations of African elephants are declining alarmingly in many areas because of poaching, habitat loss, and conflict with expanding human populations. Botswana is one of the most important elephant sanctuaries in Africa. The country harbours the world’s largest elephant population, representing about 40% of all remaining African elephants. The future conservation of savanna elephants will largely depend upon how populations fare in the remaining strongholds of the species. The people of Botswana have an important role in conserving its elephants and recognise they are custodians of an import global heritage. Fellow elephant range states have the right to determine how…
Bank of Botswana says its governor, Linah Mohohlo has returned from Washington DC in U.S where she participated in the Spring meetings of the International Monetary Fund (IMF) and World Bank in her capacity as Botswana’s representative on the non-executive Board of the IMF. According to the bank, Mohohlo was accompanied by a delegation of bank senior staff adding that she took part in the meetings of the International Monetary and Financial Committee and the IMF’s Africa Group 1 Constituency (comprising 23 Sub-Saharan African Countries). “The deliberations included recent economic and financial developments, prospects for global economic growth and related…
GE’s Distributed Power business has announced that Clarke Energy, GE’s authorised distributor of Jenbacher gas engines, is supplying one of GE’s high-efficiency Jenbacher gas engines to Said Salim Bakhresa & Co Ltd (Bakhresa) for a combined heat and power (CHP) plant, which will support the Azam flour mill in Dar es Salaam, Tanzania. The deployment of this high-efficiency, gas-fueled CHP plant will help Bakhresa reduce its yearly operating costs. “We selected GE and Clarke Energy for our site in Dar es Salaam due to the efficiency performance of similar units in Tanzania and their service support available in the country,” said…
In their quest to create a sustainable market and continual artist development, Major Moves Comedy has secured a booking for Jujuvine and Phenyo The Master at the Mahikeng Comedy Jam. The duo, who recently performed at the Rail Park Mall Comedy and Cocktails event, will be looking to leave a lasting impression when they take to the stage at Mmabatho Palms this Friday 29th April. Major Moves Comedy has in the past taken Charlesto dazzle Morula Sun in Pretoria, Oefile ‘Mawee’ Mokgware who mesmerised Rock The Mother Tongue in Johannesburg, and Maun- based Elijah ‘Ouza’ Gaoakanyediwe who took on Rhapsodys…
Moody’s Investors Service says it has affirmed Botswana’s A2 long-term issuer and senior unsecured debt ratings adding that the outlook remains stable. The ratings agency said it analysed Botswana’s credit profile in the context of the commodity price shock and its impact on the country’s economic and fiscal strength. In a statement, it Moody’s noted that the affirmation reflects its view that despite pressure on some of the country’s credit metrics, the challenges that the current external environment poses for the country are appropriately captured by the A2 rating. “The relatively less adverse global market conditions and more benign outlook…
Global mining giant, Anglo American said production at its diamond unit, De Beers decreased by 10% to 6.9 million carats, reflecting the decision to reduce production in response to trading conditions in 2015. According to Anglo’s Production Report for the first quarter ended 31 March 2016, at Debswana owned 50/50 by De Beers and Botswana government, production decreased by 5% to 5.3 million carats as a result of the strategy to align production to trading conditions. “There was lower production at Orapa, partially offset by an increase in production at Jwaneng. Damtshaa (a satellite operation of Orapa) was placed on…