Thursday, 20 October 2016
As TNMC is located on the outskirts of the city, its +/-700 employees resided in Francistown and commuted to their workplace daily.
Muzila said the mines provided a high-income bracket, which elevated their buying power and boosted the economy of the city. She stated that the closure is already impacting on the city’s economy negatively as Francistown had a vision of attracting investors through the mines.
“This dream shattered when the mines closed down. This challenges us to diversify and come up with better ways of saving the city’s economy,” Muzila said.
She said the city’s unemployment rate has increased since hundreds of people were laid off.
Muzila said the closure has had a huge negative impact on businesses and individuals who took advantage of the mines.
“The closure will impact negatively on people’s assets as they might put them for sale or rental hence forcing property markets to drop. This will also affect us as the council because we will be forced to reduce our rates,” Muzila said.
She added: “When the property market drops, it will surely affect the city’s economy”.
She said through their Francistown Investment Forum , the local authority is busy fast-tracking its investment drive to attract quality investors into the city.
“We are calling for investors who are into manufacturing to set up factories here. This sector is labour intensive and as such it will create more openings and more possibilities for locals,” Muzila said.
The drilling started at pipe AK 22, within license PL 260, which is part of a 50:50 joint venture between the company and Russian miner ALROSA.
Botswana Diamonds will make a further announcement “as soon as practicable” about the start of drilling at license PL 135 in the Gope region, which is also being explored in partnership with ALROSA
"No mining companies have ventured here before to undertake drilling programmes. And yet the preliminary geochemical and geophysical indicators are strongly positive. We are at the cutting edge of diamond exploration and are cautiously optimistic of finding kimberlites."
Friday, 23 September 2016
|Paul Johnson (Chief Executive Officer)||Tel: +44 (0)7766 465 617|
|Terry Grammer (Non- Executive Chairman)||Tel: +44 (0)207 099 0738|
|Spark Advisory Partners Limited|
Tel: +44 (0) 2033 683 555
Tel: +44 (0) 1483 413 500
Mount Burgess Mining NL to target additional zinc resources in Botswana
The 1200 metres drilling program will focus on additional zinc anomalies within the vicinity of the Kihabe and Nxuu zinc/lead deposits.
The Kihabe and Nxuu deposits have a combined resource of 25 million tonnes grading 3% zinc equivalent.
The new program will primarily focus on Target 52, a geochemical soil anomaly identified 2 kilometres southeast of the Nxuu deposit.
Significantly, the geochemical results suggest a possible mineralised strike length of 5+ kilometres, which is more than double that of the combined strike lengths of the Kihabe and Nxuu deposits.
Mount Burgess’ Kihabe Zinc Project has mineralisation occurring from 5 metres to 175 metres below the surface and, as such, could potentially be mined by means of open pit mining methods.
Metallurgical test work has generated zinc recoveries of greater than 90% and zinc and lead concentrates of good marketable grade.
Importantly, zinc is the best performing base metal so far this year and measured from its six-year low struck mid-January, zinc price has increased 58% to $2,336 a tonne earlier this month.
The new drilling program is anticipated to commence in mid-October 2016.
Mount Burgess’ share price has doubled since the beginning of 2016, last trading at $0.01
Tuesday, 2 September 2014
Monday, 18 August 2014
In a related development, legislator, Tawana Moremi of the Ngamiland constituency objected saying he was afraid the amendment will tamper with people’s rights, adding that shareholders have a right to sell “to whoever they want.”
Wednesday, 13 August 2014
Tuesday, 29 July 2014
Friday, 25 July 2014
A regional soil sample, numbered MSC119, weighing approximately 40kg was collected and then processed at Pangolin's DMS plant in Francistown, Botswana. A concentrate was then independently examined in Gaborone by a specialist consultant who subsequently submitted the stone to C.F. Mineral Research Limited in Kelowna, Canada who confirmed the diamond.
The white diamond weighs 0.005484 carats and was retained on a standard Endecotts sieve with the mesh size 0.600mm. The diamond is therefore classified as a macro-diamond - greater than 0.500mm in at least one direction.
Malatswae Diamond Project
The Malatswae Kimberlite Project covers 1,058km2 and is located 70km southeast of the Orapa Mine. The Project area hosts a number of kimberlite targets. Previous work by Pangolin Diamonds demonstrated that the chemical compositions of garnets recovered in soil samples are distinctly different from the garnets from the Orapa kimberlite field, suggesting that an undiscovered kimberlite may be found within the project area.
Quality Control and Quality Assurances
Quality assurance procedures, security, transport, storage, and processing protocols conform to chain of custody requirements. The diamond results reported here are based on laboratory work completed by C.F. Mineral Research Limited, Kelowna, Canada an independent mineral processing laboratory. Residues are retained and are available for review and audit.
Pangolin exploration programs are carried out under the supervision of Rick G. Bonner, P. Geol., who directs operations in Botswana for Pangolin Diamonds.
The company intends to acquire a 30% interest Pencil Hill that will hold a 80% interest in the graphite prospecting licence.
Bisan will also have a first right of refusal to subscribe to additional shares and acquire an additional 21% giving Bisan the opportunity to move to 51% of the issued capital.
Plans are also being made to list the new company as an initial public offering.
The consideration for the additional equity will be based on an agreed value most likely to be the IPO price offered to the public or by an independent expert selected by both parties.
The proposed acquisition will be conditional upon due diligence drilling to be completed by Bisan to verify previous
results, and necessary shareholder and regulatory approvals.
If Bisan does proceed, then the consideration to subscribe to 30% of the issued capital of Pencil Hill is $2 million.
In addition, Bisan currently holds 13.8% of the issued capital of P-Fuel Limited, an unlisted public company.
Bisan will invest a further $150,000 by subscribing for 3,000,000 new ordinary shares in P-Fuel at $0.05 per share to increase its equity interest to 16.06%.
P-Fuel is developing technology to convert plastics into diesel fuel.
P-Fuel also proposes to undertake an IPO under which Bisan shareholders will be given a priority allocation.
Bisan is also proceeding with a placement to raise $549,463 via issue of 36,630,895 shares at $0.015, with free attaching options exercisable at $0.05 and expiry on 31 December 2018.
Global diamond production by value rose 11 percent year on year to $14.09 billion in 2013, due mainly to an increase in the average price of rough diamonds, according to annual data published by the Kimberley Process Certification Scheme. By volume, global production increased 2 percent to 130.48 million carats, while the average price of production grew 9 percent to $107.95 per carat.
Botswana’s production rose 22 percent to $3.63 billion with the volume of its production up 13 percent to 23.19 million carats. The average price of Botswana's rough rose 8 percent to $156.36 per carat.
Tuesday, 13 May 2014
Friday, 18 April 2014
14 April 2014
Lucara Diamond Corp. reports that its first Exceptional Stone Tender of 2014 generated gross revenues of $50.47 million, or $42,347 per carat. The special tender of diamonds from the Karowe mine in Botswana, completed on April 10, 2014, consisted of 20 single stone lots totaling 1,191 carats, all of which were sold.
The highest value stones sold were a 167.-carat diamond and an 86.8-carat diamond, which sold for $12.7 million ($75,821/ct) and $5.1 million ($58,627/ct), respectively. Of the 20 diamonds on offer, 15 of these sold for more than $1 million, including eight, which sold for more than $2 million, notes the TSX-listed miner.
In addition to the exceptional stone tender, Lucara held two regular diamond tenders in the first quarter of 2014. A total of 107,500 carats were sold for combined revenues of $33.6 million. This, together with the exceptional stone tender, brings the total year-to-date revenues to $84.06 million, or $782 per carat.
"Strong regular tenders combined with the outstanding results from the exceptional stone tender continue to demonstrate the quality of the Karowe Mine and firmly establishes Karowe as one of the world's leading diamond producers by value, further reinforcing the updated resource statement issued in December 2013," says William Lamb, President and CEO.
According to Lamb, the company's next exceptional stone tender will be scheduled for the third quarter of this year. "Karowe Mine has, this year, produced a number of high value diamonds which we are considering for this tender, including a 153.5-carat gem quality stone."
Transnet Freight Rail (TFR) said that in 2015, the construction is
set commence on the 105km heavy-haul coal rail link between Botswana and
South Africa, immediately after the completion of feasibility studies.
The construction is a part of a R300 billion infrastructure investment program initiated by TFR.
R40 billion has been allocated by TFR for the construction of this rail
link which will link into existing coal heavy-haul railway lines.
to carry 40-80 million tons per year, the rail link will transport coal
from Botswana into South Africa for state-electricity generator Eskom,
or exported through the seaborne market.
Gama said, "We are
planning to develop the Richards Bay Coal Terminal to support the
expected [volumes] from Botswana and the Waterberg coalfield in South
Monday, 2 December 2013
DCI up 16.52 percent year-to-date
The domestic companies index (DCI) rose by 0.45 percent during the week ending November 1, closing at 8 750.79 points from 8 711.53 points the previous week. For the ye
BoBC Auction Results (November 5)
The 14-day BoBC yield dropped to 3.14 percent from 3.15 for a paper maturing on November 20, 2013 while that for 91-day maturing on&n
DCI up 16.75 percent year-to-date
The domestic companies index (DCI) rose by 0.20percent during the week ending November 8
BoBC Auction Results (November 12)
The 14-day BoBC yield edged up to 3.15 percent from 3.14 for a paper maturing on November 27, 2013. The results of the auction held on November 12,
DCI up 17.02 percent year-to-date
The domestic companies index (DCI) rose by 0.23 percent during the week ending November
Inflation falls to 4.8 percent in October
Headline inflation fell to 4.8 percent in October, down from 5.0 percent in September. Inflation decreased across several commodity groups, including: food and non-