Global major Rio Tinto said it has reached a binding agreement for the sale of its 40 per cent interest in the Bengalla coal Joint Venture in Australia to New Hope Corporation Limited for US$606 million. Bengalla is the smallest of three coal mines in the Hunter Valley of New South Wales in which Rio Tinto holds an interest, producing 8.6 million tonnes (3.4 million tonnes based on a 40 per cent Rio Tinto share) in 2014. Rio Tinto has now announced or completed US$4.5 billion of divestments since January 2013, with the agreed sale of its interest in the…
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Firestone Diamonds plc says Liqhobong Diamond Mine in Lesotho is on track for initial production in Q4 2016 with construction now 49% complete as at end of September 2015. This is versus 50% target under the revised timetable, announced in June 2015. According to the company, capital budget to commencement of production of R2.1 billion, including optimisation projects and reclassification of expenditure from operating expenses to capital, remains within the original US$185.4 million budget. Firestone Chief Executive Officer, Stuart Brown said the progress reflects the ability and hard work of the team and contractors during the past 15 months and…
The Global Competitiveness Report (GCR) 2015-2016 has cautioned that failure to embrace long-term structural reforms that boost productivity and free up entrepreneurial talent harms the global economy’s ability to improve living standards. The Report also notes that the ‘new normal’ productivity growth poses a grave threat to the global economy and seriously impacts the world’s ability to tackle key challenges such an unemployment and income inequality. In this year’s Report, Botswana is ranked 71st out of 140 countries. This marks an improvement of 3 places, relative to the previous Report. The country’s quality score has also improved from…
The hotel and tourism industry in Africa is beginning a period of sustained growth, according to the sector’s leading experts gathered at the Africa Hotel Investment Forum in Addis Ababa. The conference heard that inward international flights were recovering after being hit by the ebola outbreak. And the hotel sector reported significant expansion, as well as increased visitor numbers, boosted by demand from African business. Now in its fifth year, AHIF (30 September to 1 October 2015) brought together 500-plus leading international hotel investors, local operators, ministers, government officials and industry experts from around 40 countries. The immediate good news…
A new report by World Animal Protection highlights the rise in southern Africa of elephant rides and shows, which the organisation says are cruel and unnecessary in a part of the world where there are hundreds of opportunities to see elephants in the wild. “You’re taking the wild out of Africa by breaking the spirit of their elephants so they can be ridden and perform for tourists,” says Kate Nustedt, Director of Wildlife at World Animal Protection. “People who love animals will be shocked about the cruelty behind the scenes of elephant rides, and they will no longer want to…
The French aircraft maintenance software specialist ADSoftware has appointed Paul Zavattero to the position of International Sales Engineer. ADSoftware has decided to recruit one of the aviation industry’s top minds to enhance its services offering. This comes following the implementation of a strategicbusiness development plan aimed at strengthening ADSoftware’s global market position by making AirPack the preferred aviation maintenance software of choice. Based at the company’s new offices in Toulouse France, Zavattero will spearhead ADSoftware’s worldwide organisational development efforts with a focus on pursuing new business opportunities and reinforcing existing customer relationships. Paul will also be responsible for providing professional…
Africa’s low-cost airline, fastjet, took delivery of its first owned aircraft on 25 September 2015. The intent to purchase this aircraft, the sixth aircraft in the fastjet fleet, was announced on 26 August 2015 and the agreement was signed on 23 September 2015. According to the company, the aircraft, an Airbus A319 (Manufacturer’s Serial number 2891), was purchased from an entity managed by BBAM US LP (BBAM), a leader in commercial aircraft leasing, financing and management, headquartered in San Francisco, CA. The market value of the aircraft is approximately USD15.5m and the aircraft was purchased at a discount to the…
More than 3 000 delegates are expected to start arriving in Cape Town this week ahead of the South African International Renewable Energy Conference (SAIREC 2015). Focusing on the theme of RE-energising Africa, SAIREC 2015 will be held at the city’s International Conference Centre. “We are delighted to welcome delegates from our country, our continent and the world to this sixth International Renewable Energy Conference, which is a historic first for Africa,” says SA Minister of Energy Tina Joemat-Petterson. “This is the first conference of its kind on African soil and we are proud to have the honour of hosting…
The first batch of students in the re-introduced Debswana Diamond Company’s scholarship programme has begun their studies at both local and overseas institutions. Thirty-six (36) students were placed at local institutions; with 13 students admitted at Maru-a-Pula School and 12 at Legae Academy for A-level studies while the remaining 11 enrolled at University of Botswana. Fourteen (14) of the students will be studying in the United Kingdom at Chelsea Independent College and Duff Miller College. It was a cheerful moment for the parents, who were proud to see their children leaving for their studies. Students were all smiles to…
Hennie Heymans, currently Managing Director of DHL Express South Africa has been appointed as Managing Director of DHL Express Sub-Saharan Africa (SSA), effective from 01 October 2015. In his new role, Heymans will oversee 51 countries and territories, over 3,500 employees and 250 facilities, five regional hubs and 14 dedicated DHL aircraft. Succeeding Charles Brewer, who is now focussed on building a new African e-commerce venture as part of the Mara Group, Heymans’ knowledge of operating in challenging markets, strong leadership skills, as well as his solid network within the African region makes him the natural choice for the role.…