Friday, 19 June 2009
Cash Injection In MCL
The Morupule B plant is the first major transaction involving Standard Bank and ICBC, which has a 20% stake in the former. The Standard Bank Group through SBB, experienced Global Markets, Debt Capital Markets and Project Finance expertise in Africa helped secure the mandate. When the two Banks signed a strategic partnership deal, one of their objectives was to participate in co-funding large infrastructure projects in Africa. This deal comes at a time when banks around the world are cutting back on international lending and concentrating on domestic markets in the wake of the global financial crisis.
IAMGOLD Announces Increased Production Guidance for 2009
- Full year gold production for 2009 is expected to be 910,000 to 920,000 ounces at an average cash cost(1) of between $460 and $470 per ounce
- Full year niobium production from the Niobec mine is expected to be 4,200 to 4,400 tonnes with operating margins of between $20 and $22 per kilogram
- Capital expenditures are expected to be $448 million for 2009 - Greenfields exploration expenditures remain forecast at $34 million for 2009
African Copper Plc ('ACU') and Zambia Copper Investments Limited ('ZCI') Term Loan Agreement Between ACU and ZCI
ZCI and ACU are pleased to announce that, on 18 June 2009, they entered into a new term loan facility agreement ("Term Loan Facility") to refinance the existing bridge loan facilities ("Bridge Loans") made by ZCI to ACU's wholly owned subsidiary Messina Copper (Botswana) (Proprietary) Limited ("Messina") and which were guaranteed by the African Copper Group. The Term Loan Facility will put ACU's borrowings from ZCI onto a more permanent footing. The principal terms of the Term Loan Facility are as follows:
Thursday, 18 June 2009
Chobe Holdings move to mitigate downturn - Mmegi Mobile
Tourism operator, Chobe Holdings, has put measures in place to help mitigate the effects of reduced lead times, managing director John Gibson has said.
The company has been hit by a downturn soon after releasing a fair set of financial results. 'Whereas once lead times (time between booking and actual travelling) could be measured in years, we now face lead times of months and in some cases days,' Gibson has said.
Chobe recently posted positive results for the financial year ended February 28, 2009 when revenue increased by 45 percent to P124.6 million as compared to P85.9 million recorded in the previous year.
The company has been hit by a downturn soon after releasing a fair set of financial results. 'Whereas once lead times (time between booking and actual travelling) could be measured in years, we now face lead times of months and in some cases days,' Gibson has said.
Chobe recently posted positive results for the financial year ended February 28, 2009 when revenue increased by 45 percent to P124.6 million as compared to P85.9 million recorded in the previous year.
Natasa Mining is all cashed up with $55 million to invest - proactiveinvestors.com.au
Lightly traded Natasa Mining Ltd (ASX: NSN) has completed the acquisition of bonds with a face value of Botswana Pula 149.6 million in African Copper plc’s primary subsidiary, Messina Copper (Botswana) (Pty) Ltd (Messina) as well as other indebtedness owed to Natasa by the African Copper group.
Discovery Metals Limited (DML) - FirstGlobalSelect
Disco very Metals is focused on developing the Boseto Copper Project (100% owned) in north west Botswana and to create shareh o lder wealth through discovery and development of economic mineral deposits. The Company’s major asset and current focu s is its Boseto Copper Project (100%) in north west Botswana. The company also controls the Dikoloti Nickel Project (85 %) in north east Botswana. There are two smaller Australian projects which are joint ventured with the JV partners pote ntia lly earning into 51 percent equity.
Community Home-based Care plans 700km sponsored walk - Sunday Standard
Ko Kgotleng (KKCHBC), the community home-based care located in Gaborone West South, behind the Roman Catholic Church is planning a 777km sponsored walk.
The walk is slated to begin at the Ramatlabama Boarder, on the 21st of July and ends on 9th August 2009 at the Ramokwebana Boarder to raise funds for its needy clients."
The walk is slated to begin at the Ramatlabama Boarder, on the 21st of July and ends on 9th August 2009 at the Ramokwebana Boarder to raise funds for its needy clients."
Recent rally in oil prices explains recovery story - Investec - Sunday Standard
Crude oil prices collapsed last July as the largest economy in the world faced its worst recession ever as the housing bubble finally busted towards the end of 2007.
Aviva resists pressure to move to SA - Mmegi Mobile
Australian integrated energy company, Aviva, has resolved to locate its power station in Botswana, going against a request from Eskom to move the planned 1, 000 megawatt coal powered station across the border to South Africa.
Aviva, which is listed on the Botswana Stock Exchange, has a 90-percent interest in the Mmamantswe Project in eastern Botswana - an indicated 1.3 billion tonne resource. The company plans to develop an initial 1 000 MW power station using four-and-a-half million tonnes of coal per annum. In finalising various technical requirements for the project, Aviva last year began hunting for off-takers for the Mmamantswe Project. Last October, Eskom unconditionally qualified Aviva to submit a bid for the South African utility company's Independent Power Producer (IPP) Programme. However, to qualify for the IPP programme, which involves the supply of up to 4, 500 MW, producers had to be located in South Africa.
Aviva, which is listed on the Botswana Stock Exchange, has a 90-percent interest in the Mmamantswe Project in eastern Botswana - an indicated 1.3 billion tonne resource. The company plans to develop an initial 1 000 MW power station using four-and-a-half million tonnes of coal per annum. In finalising various technical requirements for the project, Aviva last year began hunting for off-takers for the Mmamantswe Project. Last October, Eskom unconditionally qualified Aviva to submit a bid for the South African utility company's Independent Power Producer (IPP) Programme. However, to qualify for the IPP programme, which involves the supply of up to 4, 500 MW, producers had to be located in South Africa.
Tuesday, 16 June 2009
China's ICBC, Standard Bank sign Morupule deal
Government has committed P1.5 billion as part of equity financing for the $1,6-billion (P11.14 billion) Morupule B Power Station expansion project.
Furious big investors turn their guns on Anglo American chief - Times Online
“There are three reasons we sold: Cynthia, Cynthia and Cynthia,” one shareholder said. “It's nothing personal. We just don't think she has done a good job.”