The Index of Mining production stood at 66.0 during third quarter of 2015, which showed a negative year-on-year growth of 37.6 percent, Statistics Botswana said on its latest industry release. According to Stats Botswana’s data, the decline was largely influenced by the year-on-year percentage change of diamonds (33.4 percent) as the mineral constitutes 82.5 percent of the total weight of the index. Diamond production declined for the fourth consecutive quarter reflecting a decrease of 33.4 percent in the third quarter of 2015 as compared to the third quarter of 2014. The continued decline is as a result of the weakening…
Author: Editor
The pan-African low-cost airline, fastjet said fastjet Tanzania has been given clearance by the Kenyan government to operate flights between Kenya and Tanzania under the Bilateral Air Services Agreement between the two countries, as previously approved by the Tanzanian Government. Two new routes, Dar es Salaam to Nairobi, and Kilimanjaro to Nairobi are on sale from today, with one way fares starting from as low as at USD80 and USD50 respectively, plus taxes. From 11 January 2016, fastjet Tanzania will operate a daily flight between Dar es Salaam and Nairobi and between Kilimanjaro and Nairobi. Flights between Zanzibar and Nairobi and Dar…
The plant failure at Morupule B power project has been blamed on the country’s decline in power generation in the third quarter of 2015, Statistics Botswana said. According to the agency’s Electricity Generation & Distribution Stats Brief for the Third Quarter 2015, electricity generated during the quarter under stood at 591, 983 MWH, which showed a decrease of 37, 993 MWH (6.0 percent) as compared to 629, 976 MWH generated during the second quarter of the same year. Stats Botswana said the year-on-year comparison of electricity generation shows a decrease of 27.5 percent (224, 482 MWH) from 816, 465 MWH…
Motswana ARTivist Katlego Kolanyane-Kesupile has joined the ranks of the best youth leaders in the Commonwealth by virtue of being named a Highly-Commended Runner Up in the 2015 Queen’s Young Leaders Awards. The awards governed by The Queen Elizabeth Diamond Jubilee Trust in collaboration with The Royal Commonwealth Society were founded in 2014 to celebrate and honour young leaders from within the 53 Commonwealth member states. The award selection committee short-listed over 2000 candidates worldwide to enter the final stages to see who would be named the 60 award recipients, and who would receive the notable, Highly Commended Runner Up…
Pangolin Diamonds Corp. said it has recovered an eighth diamond from the Company’s wholly-owned Malatswae Diamond Project , in an area of the project that is located 105 km southeast of the Karowe diamond mine operated by Lucara Diamonds in Botswana. To date, seven of the eight diamonds recovered are white in colour. According to the company, the diamond from sample MSC-DG-097 is a white octahedral fragment with dimensions of roughly 1mm x 1mm x 1mm. It is one of four diamonds (three white and one brown) that have been reported from within an area of 0.32 km2. “Olivine, ilmenites…
The Ministry of Environment, Wildlife and Tourism has advised the public and all stakeholders that as of 1st December 2015, Major General Otisitswe B. Tiroyamodimo is the new Director of the Department of Wildlife and National Parks. The Department of Wildlife and National Parks is tasked with the responsibility of conserving and managing the country’s fish and wildlife resources and their habitats in consultation with local, regional and international stakeholders for the benefit of present and future generations. Media reports indicate that Major General Otisitswe B. Tiroyamodimo was fired from the army in 2012 following a drunken driving…
Gem Diamonds Limited has announced the appointment of Michael Lynch-Bell as an independent non-Executive Director with effect from 16 December 2015. Lynch-Bell spent a 38 year career with Ernst & Young (EY) having led its Global Oil & Gas, UK IPO and Global Oil & Gas and Mining transaction advisory practices. He was a member of the assurance practice from 1974 to 1996 when he transferred to the Transaction Advisory Practice. He was also UK Alumni sponsor and a member of the firm’s EMEIA and Global Advisory Councils. He retired from EY as a partner in 2012 and continued as…
The development of the Oyu Tolgoi underground mine in Mongolia took an important step forward with the signing of a US$4.4 billion project financing agreement. Oyu Tolgoi has secured Project Finance for the underground mine development with funding by international financial institutions and export credit agencies representing the governments of the United States, Canada and Australia, along with 15 commercial banks. The signing in Ulaanbaatar follows the agreement earlier this year of the Oyu Tolgoi Underground Mine Development and Financing Plan by the Government of Mongolia, Turquoise Hill Resources and Rio Tinto, which set out a pathway towards development, including…
The mushrooming of energy initiatives in Africa is a welcome development, but there is need for coordination of these initiatives to ensure their success, African Development Bank’s (AfDB) Kurt Lonsway has said. Lonsway, Manager of the Environment and Climate Change Division at the AfDB, which hosts the Sustainable Energy for All (SE4ALL) Africa Hub, added that coordination is crucial in these energy initiatives in order to avoid duplication. He said a multitude of initiatives with similar objectives increases the risks related to duplication of efforts and uncoordinated implementation especially in view of limited absorption capacities at the country level. “There…
International diversified mining giant, Anglo American plc has announced a radical restructuring programme that will see the group redefine the focus of its asset portfolio and transform into a competitive position with a view to creating a more resilient business to deliver sustainable shareholder returns. The salient features of the restructuring include; radical portfolio restructuring, driving operational discipline and protecting the balance sheet. Under the radical portfolio restructuring, Anglo would focus on the priority 1 assets to deliver free cash flow and greater returns through the cycle. The number of assets will be reduced by ~60% with corporate structures consolidated…