FIRESTONE DIAMONDS TO COMMENCE COMMERCIAL MINE DEVELOPTMENT AT BK11 BOTSWANA PROJECT

Firestone diamonds plc plans to start development of commercial mining operations on its Botswana BK11 kimberlite, about 20km southeast of Debswana's Orapa Mine and 7km northwest of Debswana's Letlhakane Mine. The primary objective of this work was to recover a sufficiently large parcel of diamonds in order for a high-confidence diamond valuation to be obtained and to allow a mine development decision to be made, said the company. Excellent progress has been made, and grade and diamond quality from material processed from the bulk sampling trench have met the company's expectations. With revenue estimates of $16 per tonne and with low operating costs in the Orapa area of approximately $6.50 per tonne, mining of the KW area at BK11 is expected to produce annual revenues of approximately $24 million per annum at operating margins of 60 percent. Finally, an additional inferred resource of 6 million tonnes of kimberlite containing approximately 200,000 carats has been identified between 120 and 250 meters. Limited sampling has been carried out on this part of the resource, and further work will be undertaken as mining progresses.

Hana discovers more copper in Ghanzi

Hana Mining based in Vancouver, Canada and listed on the TSX (Toronto Stock Exchange) Venture Exchange and the Frankfurt Exchange views Botswana as a very favourable area for conducting business. The company commended the Botswana government support for developing mining diversification. The company recently announced completion of 14 new RC drill holes at its Ghanzi copper-silver project in Botswana which extends total mineralisation in the Company's current focus area, Banana zone. Hana Mining CEO Marek Kreczmer said that the findings would increase the overall resource to 80 - 100m tonnes. The highlights of the drilling results show that four new holes in the South Limb extend mineralised strike length by 600 metres to 1.8km. Ten new holes in the Southwest fold represent new mineralised strike length of 1000 metres in an area never tested by any type of drilling. The South Limb results show continuation of mineable grade copper/silver mineralisation trending south from previously released results. The Southwest results show lower grade, near surface mineralisation over large widths (16 to 48 metres) and at shallow dip. The main copper minerals in the Southwest fold are malachite and chalcocite in contrast to other areas which are mainly bornite and chalcopyrite. In June 2009, Hana Mining announced that its drilling results showed an inferred resource of 2.9 billion pounds of copper and 51.5 million ounces of silver at its Ghanzi Copper-Silver sediment-hosted copper-silver deposit similar to the vast Kuperschiefer deposit in Poland.

RMB investor guide: Botswana | Moneyweb

According to this report, the mining sector would be a good place for investors to look for opportunities. The report states that the mining industry accounts for almost 42% of Botswana's GDP, and is the single biggest contributor to economic growth. However it says that there is potential for diversification from the mining sector, which will improve GDP growth in the long term. This resonates what the current President, Seretse Khama Ian Khama stated in the state of the nation address. RMB stated that, "the surprise discovery of natural gas and other minerals unique to the area including the country's extensive coal reserves are options for future diversification". Other attractive sectors include tourism and financial services. They account for 11% and 10% of GDP respectively with tourism development focusing mainly on the high-end of the international market. Botswana developed a market oriented monetary policy in the 1990s in order to expand financial sector development and be competitive with other African developing countries. RMB said the country has relaxed interest rates and exchange controls with commercial banks having the freedom to determine their own deposit and lending rates. The support from government to develop the financial sector is the reason for an influx in international commercial banks in the country.

Impact Minerals starts maiden drill programme for uranium in Botswana

Impact Minerals Limited (ASX: IPT) has kicked off the first of its drill programme to test several large uranium targets at the Lekobolo Prospect, located within the Botswana Uranium Project. Impact’s Botswana Uranium Project covers 350 km of the strike extensions of rocks that host many significant uranium deposits throughout southern Africa, including Kayelekera in Malawi and Letlhakane in Botswana. The large Letlhakane Project is owned by A-Cap Resources Limited which has reported an Indicated and Inferred Resource of 344 Mt at 152 ppm using a 100 ppm cut-off for 116 Mlb of uranium oxide in deposits hosted by near-surface calcrete and by Karoo Group sedimentary rocks."

Mmegi Online :: De Beers Bailout Unavoidable - PHK

"The Minister of Minerals, Energy and Water Resources, Pontashego Kedikilwe says Botswana is compelled to rescue De Beers from its debt because the failure of the world's biggest diamond producer will have devastating consequences on the economy of this country."

Monitor sister publication, Mmegi, first reported last week that the three shareholders of De Beers, one of whom is the government of Botswana, have reportedly agreed in principle to rescue the diamond giant from debt by injecting up to US$1 billion (P6.5 billion) into the company through share placing.

If Botswana decides to take the offer, then it will increase its 15 percent stake depending on how much other shareholders, Anglo American (45 percent) and the Oppenheimer family who owns 40 percent put forward.