Tuesday 30 August 2011

G4S plans share split to ease tradability

The Monitor: ""The ordinary shares have thus become too costly for acquisition by small investors resulting in reduced liquidity and tradability of G4S's shares," Mokgosana said. He added that the company's directors then proposed a ten-for-one sub division that is to be approved at the next extraordinary general meeting in September."

'via Blog this'

Wednesday 27 July 2011

Impact sheds 40% to focus on Botswana exploration

Botswana Gazette: "“The sale of the Nowthanna uranium deposit has come at a good time for Impact and reflects the Company’s continuing primary focus on its highly prospective exploration assets for uranium and nickel-copper-PGE’s in Botswana in Africa,” said Dr Jones, adding that, “The consideration we will receive will be used to further accelerate our exploration programmes on the Botswana Uranium Project where a major drill programme is in progress and the Xade Nickel-Copper-PGE Project where a major airborne magnetic survey has commenced” he said."

Hunt begins for new DTCB boss

Mmegi: "'I will be retiring at the end of December 2011 after 42 years of service with the company,' McDonald said in a statement. 'These 42 years I have invested in the De Beers Group of Companies were of tremendous value and I look forward to spending time with my family.'"

Paragon Diamonds wins licence in Botswana

IBTimes: "The award of a new kimberlite prospecting licence in Botswana is a strategic step forward. In combination with our Lesothoan, Zambian and Tanzanian assets, it further strengthens the company's development into a kimberlite explorer and developer in Southern Africa"

Discovery Metals on track for copper mine

Discovery Metals on track for copper mine: "In addition to project and equipment finance, the banking syndicate will provide a $US25 million overrun and working capital facility plus hedging lines for both copper and silver production."

Wednesday 29 June 2011

The world's premier mining and mining investment website Impact Minerals Limited [IPT] - Drilling Under Way on Botswana Uranium Project

Mineweb: "'These styles of mineralisation have only been reported by Impact in Botswana and the drill programmeis designed to test this potential for such new uranium deposits as well as deposits in Karoo sedimentaryrocks similar to those at the large Letlhakane Uranium Project about 150 km to the north' Dr Jones said.There are four priority drill targets, all located west of the town of Mahalapye."

National brand nears global recognition

The Monitor: "The Botswana Export Development and Investment Authority (BEDIA) says the national brand's path to registering as a trademark internationally, is proceeding seamlessly with approval expected to be granted by December."

Monday 13 June 2011

Firestone Diamonds Listing on Botswana Stock Exchange

Firestone Diamonds Listing on BotswDiamondNe.ws: "Philip Kenny, Chairman of Firestone Diamonds, commented: “Firestone Diamonds is currently the only company selling diamonds by tender in Botswana, both from the BK11 Mine in Botswana and the Liqhobong Mine in Lesotho. We are very pleased to be able to offer Botswana-based investors the opportunity to participate in the growth that we expect as production from Firestone’s mining operations continues to increase and the shortfall in diamond supply continues to drive rough diamond prices higher.”"

Botswana Holds Off Unions, Keeps Top Africa Credit Rating, Moody’s Says

Bloomberg:
"The attitude to the strike “signals to us that the government is very serious about its budget strategy,” Lindow said. “The easy thing would be to give in."

"They’ve been hit hard by the crisis, but they’ve bounced back,” Lindow said. “They have ambitions to reduce very substantially the size of spending relative to GDP. That’s what we’re trying to ascertain, whether that will indeed happen and how soon."

BOTSWANA DIAMONDS IDENTIFIES POTENTIALLY DIAMONDIFEROUS ROCK LAYERS IN CAMEROON LICENSE

Tacy LTD: "Botswana Diamonds reports that its geologists have identified sequences of sedimentary rock layers in several localities in the east of its Cameroon diamond license. The AIM-listed miner holds an 85 percent share of the reconnaissance license, which lies immediately to the south and west of C&K Mining's Mobilong license area, where recent reports suggest that a very significant reserve of diamonds has been discovered and where a mine estimated to produce one million carats a year is reportedly coming on stream by 2012. "

Saturday 11 June 2011

Strike to undermine GDP forecast - economist

Mmegi Online "'The intended fiscal adjustment, aimed at bringing the budget into balance by fiscal year 2012/2013, is facing its most severe test yet,' Khan says in the report. 'An outright quarter-on-quarter contraction in non-mining GDP now looks plausible in the second quarter of this year, putting at risk our full year GDP growth forecast of 4.9 percent, despite an overall increase in government spending and a healthy rebound in diamond sales.'"

Fraudsters hit BSE investor and brokerage

Mmegi Online

Wednesday 1 June 2011

Botswana’s Economy Is Back on Strong Growth Path on Gem Exports, IMF Says

Bloomberg

Botswana’s economy is “back onto a strong growth trajectory” due to a rebound in diamond exports and good government policies, the International Monetary Fund said. While inflation has accelerated there isn’t firm evidence of generalized price pressures in the southern African nation’s economy and the IMF supports the central bank’s neutral stance on interest rates, the Washington-based institution said in a statement on its website. The government must continue efforts to reduce its large state wage bill, it said.

The world's premier mining and mining investment website Exploration program finalized for Botswana coal projects & update on Kenya coals basin tender

Mineweb

Key Points:

  • Initial exploration drilling program for Botswana finalised following receipt of report from the Company's independent South African consulting geologists
  • 60 borehole drilling program to be completed in 2011 through two phase exploration drilling program to commence upon appointment of Botswana drilling contractors
  • Exploration drilling to focus initially on the Serowe Thermal Coal Project with subsequent drilling to commence on the Kweneng Thermal Coal Project
  • Tender documents received from the Kenyan Ministry of Energy for 4 coal concession blocks in the Mui Coal Basis with submissions due in July 2011

Emerging mid-tier South African focussed coal producer Continental Coal Limited (ASX: CCC) ("Continental" or the "Company") is pleased to provide an update on its planned exploration activities on its Serowe and Kweneng thermal coal projects in Botswana (together the "Projects") following receipt of the planned initial exploration and drilling programs for each of its projects from its independent geological consultants. The Company is also pleased to confirm that it has received a "Request for Proposals for Concession of Mui Coal Blocks" and the accompanying data and will be submitting its detailed proposal as required to the Kenyan Ministry of Energy in July 2011. "We are extremely pleased to have finalised our planned initial exploration program for our Botswana prospecting licenses and to be in a position of being able to commence work in-country very shortly. In addition, having now received the tender documents from the Kenyan Ministry of Energy we are busy preparing our submission to position ourselves to secure one of the 4 exciting coal concession blocks available." commented Continental's Executive Director, Jason Brewer. "It is very pleasing to be able to offer our shareholders such exploration upside in these highly prospective and strategically located coal regions, particularly coupled with export and domestic thermal coal sales from our two producing open cast mines in South Africa and ahead of planned announcements of the Penumbra Coal Project development and funding plans due to be released to the market in the coming days" Mr Brewer added.

S&P affirms Botswana's ratings

Business LIVE

Standard & Poor's Ratings Services has affirmed its 'A-' long-term and 'A-2' short-term foreign currency sovereign credit ratings on the Republic of Botswana and on the Bank of Botswana, the country's central bank.

"We also affirmed the 'A' long-term and 'A-1' short-term local currency sovereign credit ratings on Botswana and its central bank. The republic's 'A+' transfer and convertibility assessment is unchanged. The outlooks on Botswana and the Bank of Botswana are stable," the rating agency said. It said the affirmation reflects Botswana's strong public sector balance sheet, even though this recently deteriorated. It also reflects its well-managed minerals-based economy, and long record of political stability. These factors are somewhat offset by the country's narrow economic base, which is vulnerable to shocks; heavy reliance on diamond sector performance, despite efforts to diversify; fiscal challenges; and still-significant development needs. "Botswana's stable politics, track-record of prudent macroeconomic policies, and high level of transparency are strong by emerging market standards. However, key structural credit constraints are the country's narrow economy, together with income levels that are amongst the lowest in the 'A' category, high unemployment, and the impact of the HIV/AIDS pandemic. "Botswana is the world's top producer of diamonds and the diamond industry remains the country's economic locomotive. Abundant diamond resources, well-managed and exploited, and a social-democratic-style welfare state, have helped Botswana to develop from one of the world's poorest countries to a middle-income country with GDP per capita of about $7,500 in 2010. "The global downturn hit Botswana hard, as the country's key commodity markets, in particular the diamond market, contracted sharply and external demand slumped. But since mid-2010, the market has rebounded sharply. Real GDP contracted by 4.8% in 2009, but expanded again by an estimated 7.2% in 2010. Our projections indicate that it should remain fairly strong in fiscal years 2011-2013, provided that the recovery in the global demand for diamonds continues. "The stable outlook balances the fiscal difficulties the government faces with a strong public sector external balance sheet. The rating could come under pressure if the government suffered further fiscal slippage and did not meet its consolidation plans, due to weaker than anticipated revenues or to higher than forecast expenditures, which could lead to greater and more rapid dissipation of asset buffers. "Botswana's creditworthiness could improve if reforms are implemented more quickly, dependence on mining continues to decline, and private sector development broadens. However, we do not expect this to be achieved within the current forecast period," S&P said.

Sono Resources Appoints Dr. Luc Antoine as Director

PRNewswire

Sono Resources Inc. (OTCQB: SRCI) reports that Dr. Luc Antoine has joined Sono as a Director of the Company. Dr. Luc Antoine is a professional geologist and geophysicist who has worked on the African continent in such countries asAlgeria, Libya, Tanzania, Sudan, Mozambique, South Africa, Angola, Congo, Gabon, Mauritania, Senegal, Morocco andBotswana for over 20 years. His expertise is focused on exploration, data security and quality control, data acquisition, and on data interpretation. Dr. Antoine is co-founder and technical director of GeX Surveys, a company specializing in airborne geophysical data acquisition contracting services since 2006. He is also co-founder and technical director of Geoscientific Exploration Services, a company offering geological, geotechnical, remote sensing and geophysical consulting and contracting services since 1999. During his career, Dr. Antoine has been extensively involved in developing exploration programmes for leading mining and mineral companies including Anglo American Gold Corporation (1986 to 1987) and Anglo American Gold's base metals operations (1980 to 1986), as well as Falconbridge Exploration (1973 and 1978 to 1979). He also taught exploration methodology at the University of the Witwatersrand from 1987 to 2002. A resident of South Africa, Dr. Antoine is an Associate Member of South African Geophysical Association (President 1993), a member of the Geological Society of South Africa, the European Association of Geoscientists and Engineers, and the Society of Exploration Geophysicists.

CIC ENERGY TO OPEN DATA ROOM TO OTHER POTENTIAL ACQUIRERS

CanadianBusiness.com

CIC Energy Corp. ("CIC Energy" or the "Company") (TSX:ELC, BSE:CIC Energy) today announces that its board of directors has approved the termination by the Company of the Acquisition and Supplementary Agreements with JSW Energy Limited ("JSW") in accordance with their terms as the proposed acquisition of the Company by JSW will not be completed by the required deadline of May 31, 2011. A notice of termination will be sent to JSW on June 1, 2011. CIC Energy believes shareholder interests will be better served by pursuing an alternative transaction. While CIC Energy is willing to continue discussions with JSW Energy, any such discussions would have to be on a non-exclusive basis. CIC Energy intends to open its data room to potential acquirers as soon as practicable following termination of the agreements with JSW. CIC Energy has already received several expressions of interest as was reported in the Company's news release of April 28, 2011. It is expected that CIC Energy advisors, Deutsche Bank Securities Inc. and Motilal Oswal Investment Advisors Pvt Ltd., will begin speaking with the advisors of prospective acquirers shortly thereafter. "It is disappointing that after almost eight months the transaction with JSW has not been completed despite several extensions to the original deadline," said Greg Kinross, President of CIC Energy, "we thank shareholders for their patience and understanding and remain committed to unlocking value for shareholders". "We look forward to beginning discussions regarding the acquisition of the Company with other major corporations that have expressed interest in CIC Energy in recent months, as well as other parties," said Warren Newfield, CEO of CIC Energy. "We believe this is the best course of action for shareholders. We are prepared to continue the process with JSW, but only on a non-exclusive basis."

Arbitration by GCL Botswana: In respect of the arbitration process recently initiated by GCL Botswana Limited ("GCL Botswana"), CIC Energy continues to regard it as being entirely without merit. Although discussions have taken place between the Company and GCLBotswana with a view to settling the dispute and terminating the underlying shareholders' agreement, the situation remains unresolved. The Company is open to further discussions with GCL Botswana, but is considering all of its options to resolve its position.

Conference Call: CIC Energy will host a conference call with Warren Newfield, CEO and Chairman, and Greg Kinross, President to discuss this news release on Tuesday May 31, 2011 at 4:00 p.m. Eastern Time (10:00 p.m. SAST). To participate in the conference call, investors and media from the US and Canada should dial 1-888-231-8191 prior to the scheduled start time. International callers should dial +1 (647) 427-7450.

CIC confident of finding new buyer after JSW deal breaks up

CIC confident of finding new buyer after JSW deal breaks up

CIC Energy is optimistic that it will receive offers from companies interested in its power-generation and coal-export projects in Botswana, after the firm terminated a takeover agreement with India's JSW Energy, chairperson Warren Newfield said on Tuesday. The company has been approached by “more than two” parties and is not concerned that it will not be able to secure a new offer, CIC executives told analysts on a conference call. They declined to provide more details, but, when pressed, conceded that the potential suitors included interest from India, as well as elsewhere in the world. CIC said earlier on Tuesday that it was also still open to nonexclusive negotiations with JSW, but that it “believes shareholder interests will be better served by pursuing an alternative transaction.” Shares in the company rose 5,3% on Tuesday, to C$3,16 apiece by 15:59 in Toronto. JSW, an Indian power utility, agreed in November last year to buy CIC Energy for C$7,75 a share, or about C$422-million. The parties have been trying to close the deal since then, and had set a deadline of May 31 for certain conditions to have been waived or met. JSW had wanted assurances from the government of Botswana related to a future power purchase agreement but was not able to reach an agreement before the cut-off date. CIC now intends to send a letter of termination to JSW, and will then open its data room to other potential buyers as soon as possible. “It is disappointing that after almost eight months the transaction with JSW has not been completed despite several extensions to the original deadline,” CIC president Greg Kinross said in a statement.

Continental Coal finalises Botswana exploration program, receives Kenya Mui Coal Basin tender documents

Proactiveinvestors (AU)
Exploration drilling is to focus initially at Serowe with subsequent drilling to commence at Kweneng. Jason Brewer, Continental’s executive director, said “we are extremely pleased to have finalised our planned initial exploration program for our Botswana prospecting licenses and to be in a position of being able to commence work incountry very shortly. "In addition, having now received the tender documents from the Kenyan Ministry of Energy we are busy preparing our submission to position ourselves to secure one of the 4 exciting coal concession blocks available.”

Bouquet joins Botswana Diamonds as non-exec director

Proactiveinvestors (UK)
"We have exciting years ahead in this company and I am sure that his wide diamond pipeline knowledge and commercial experience will be an asset to Botswana Diamonds and a complement to the expertise that we already have within the company." On appointment, Bouquet will be granted options over 250,000 ordinary shares in the company.These options have an exercise price of 6 pence, vest immediately, and expire on 27 May 2018.

SABMiller’s Sechaba Breweries Says Full-Year 2010 Profit Increases 10%

Bloomberg: "Botswana’s biggest beermaker, said full-year profit rose 10 percent to 240 million pula compared with a year earlier. The improvement in net income for the year through March was due to a change in the calculation of a 40 percent state tax on alcohol, the company said in a statement published in the Gaborone-based Mmegi newspaper today. It declared a dividend of 24 thebe a share. Clear beer sales declined 0.2 percent compared with a year earlier and sales of sorghum beer fell 1.2 percent, the company said."

Botswana says to raise bank reserve requirements

Reuters: "Botswana's central bank on Tuesday said it would raise banks' primary reserve requirement to 10% from 6.5% to reduce excess liquidity. 'Normally, an increase in the primary reserve requirement ratio implies monetary policy tightening,' the bank said in an statement. 'However, in this instance, the increase is unlikely to constrain supply of credit as, by definition, the funds mopped through the Bank of Botwana Certificates are 'excess' to what is required for productive lending.'"

Monday 30 May 2011

Hana Mining Ltd.: Infill Drilling Continues to Encounter Thick Intersections of Copper-Silver Mineralization Along the North Limb of the Banana Zone

Highlights of Recent Drilling Results:

  • Drilling is progressing as scheduled. Total drilling to date is approximately 12,297 metres (core and reverse circulation).
  • These latest results confirm the continuity of copper-silver mineralization along the North Limb of the Banana Zone.
  • Intercepts of 0.56% Cu and 11.0 g/t Ag over 27.9 metres (including 3.49% Cu and 69.0 g/t Ag over 1.5 metres) in hole HA-265-D, 0.47% Cu and 3.0 g/t Ag over 27.6 metres (including 1.24% Cu and 7.0 g/t Ag over 7.9 metres) in hole HA-273-D, 0.61% Cu and 11.0 g/t Ag over 16.8 metres (including 1.02% Cu and 21.0 g/t Ag over 8.6 metres) in hole HA-267-D and 0.54% Cu and 9.0 g/t Ag over 21.4 metres (including 0.89% Cu and 13.0 g/t Ag over 8.5 metres) in hole HA-260-D.

Discussion of Results:

The infill drilling program at North Limb North has confirmed that copper-silver mineralization is continuous and has consistent widths and in some sections it bifurcates into two high-grade zones within a very wide, lower grade, mineralized envelope (Figure 3). This drilling will allow for the conversion more mineral resources from the Inferred category into the Indicated category.

To view the three images associated with this release, please click the following link:http://media3.marketwire.com/docs/530hmgmaps.pdf.

Reinstate dismissed workers, abolish ‘no work, no pay’, utilise pyramid scheme, or strike continues

Botswana Gazette: "Solidarity and perseverance have brought us this far and no one should be intimidated by anyone. We are going back to work together!"

Botswana on the brink of collapse?

Business LIVE

"This shows that this man is undermining this country," Boko said, adding that Khama should step down because he had failed to deliver on the principles he enunciated when he was inaugurated as president in 2008.

17th June Dividend

BancABC: "Notice is hereby given that a final dividend of 33.52 thebe(gross) per ordinary share has been declared. This dividend will be payable on or about the 17th June 2011 to those shareholders registered at close of business on the 3rd June 2011."

Peermont may mull listing after restructuring

BusinessDay: "PEERMONT Global, the gaming and hotel group that owns Emperors Palace in Johannesburg, may consider a future listing on the JSE after it has completed a restructuring of its balance sheet. Peermont hoped to finish a review of its capital structure by the end of this year, CEO Anthony Puttergill said on Friday. 'We certainly may consider doing a listing at some time. We first need to finish our capital restructure, which would significantly strengthen our balance sheet.' The debt that was being reviewed was a shareholder loan worth about R3,3bn, he said."

History of the common monetary area

"The common monetary area (CMA) of the rand in southern Africa has its roots in an informal monetary union that made the South African pound the only legal tender in SA, the former Bechuanaland (now Botswana), Lesotho, Namibia and Swaziland after the establishment of the SA Reserve Bank in 1921."

Thursday 26 May 2011

Recovery punctuated by rising inflation

Botswana Business Diary

“For Botswana, the current state of the economy and the assumptions on both the domestic and external economic outlook, as well as the inflation forecast, exerts pressure to maintain the Bank Rate at 9.5 percent,” read a statement from the Bank of Botswana (BoB).

African Copper copper producer and exploration company, announces a production update for its Mowana and Thakadu Mines.


LONDON, UNITED KINGDOM--(Marketwire - May 19, 2011) - African Copper Plc ("ACU" or the"Company") (AIM:ACU)(BOTSWANA:AFRICAN COPPER), the AIM and Botswana listed copper producer and exploration company, announces a production update for its Mowana and Thakadu Mines.

Japanese tsunami hit Botswana where it hurts most

Mmegi

According to a De Beers 2010 Report Japan last year consumed 11 percent of the 33.5 million carats sold worldwide. This year, De Beers had projected to up production to 38 million carats, a situation that would have seen 4.2 million carats consumed in Japan alone.

De Beers bullish on new diamond deposits

Mmegi

"We have invested a substantial amount of money in trying to extend the lifespan of mines in Botswana, particularly with the Cut 8 project at Jwaneng where we will extract 100 million carats until about 2025," he said.

"But thereafter, we are confident that we will find more deposits in the country, but the key will be sustainable mining as well as beneficiation as one carat mined means one less carat to mine." However, Oppenheimer would not be drawn into discussing progress on the on-going negotiations between government and De Beers.

Not a scrap of info on copper cable market

Mmegi
Addressing scrap metal dealers in Gaborone recently, Kabo Marage, who is CID Officer for the South Central Division that covers Gaborone, Ramotswa, Palapye, Mahalapye and Serowe, said the police were not sure if stolen copper cables found buyers within the country or abroad. "We have not identified the market for stolen cables," said Marage. "But the market is a very critical area, which once is identified and stopped, the culprits will have nowhere to sell their contraband."

P572,000 minimum price for BHC Flats

Mmegi

A home loans officer at Barclays Bank who did not want to be named told Mmegi in a telephone interview that to qualify for a loan of P577,000, the high end price for the one bedroom unit, one would need a net income of at least P11,911, after tax and other deductions. This would be for a loan with an 11 percent interest paid over 20 years at a monthly instalment of P5,955.73. The officer said that in her experience, first time homeowners such as recent graduates usually prefer to buy flats. "Older people tend to buy townhouses," she said.

Rural libraries to go hi-tech thanks to Gates Foundation

Mmegi
"'We want Batswana across the country to have access to the Internet. Every place where there is a library, people should be able to access the Internet. We are also trying our best to ensure that people get an understanding of how the project works,'"

Hodges Resources to acquire up to 99% of the Morupule South Coal project, Botswana

African Business News - MBENDI:
"Hodges Resources Ltd (ASX: HDG) has exercised its option with SNDP Manufacture Mining and Construction Services (PTY) Ltd ('SDNP') for the rights to acquire up to 99% of the Morupule South Coal project, through a joint venture agreement. They can earn up to 99% interest in a strategic coal project. Inferred JORC resource of 414 Mt's. Exploration Target of 700 to 800 Mt's."

BOCCIM mediates between govt, unions

Mmegi:
"We have already been told the Finance Ministry is working on figures to see how best the deficit can be reduced so that government can accommodate whatever percentage it can. The issue is how can we help or what ideas can we bring to reduce the deficit, we have some suggestions" - Mbaakanyi

"We want to go to the unions and say 'supposing this scenario were to be the case, how would you react?' We also want to obtain their views so that before we bring the parties together, we are sure that they are agreed on the suggestions that are being made."

Tuesday 24 May 2011

Comair Suspends Start of Flights to Gaborone, Maputo, Business Day Reports

Comair Ltd. (COM) suspended starting flights to Gaborone, Botswana’s capital, and Maputo in Mozambique. The flights, which were due to start on May 30, have been delayed to September as the company awaits a commitment from Lanseria International Airport, Johannesburg, to build a new runway and expand other infrastructure, the Johannesburg- based newspaper reported. Lanseria plans to spend 150 million rand on a new runway and is investing more than 50 million rand in three new terminal gates and 1,000 new parking bays.

Minister of Diamond Rich Botswana Attending Antwerp Diamond Conference

In pursuit to the objective of establishing a Botswana Diamond Centre and downstream diamond manufacturing facilities, the Minister undertook a trip to Belgium and Switzerland at the end of August 2010 and explored areas of collaboration between Botswana and the Antwerp World Centre. Minister Kedikilwe is expected back home on 25th May, 2011

Adding Value to De Beers

Diamonds.net
De Beers announced the much-anticipated appointment of its new chief executive officer (CEO) earlier this week, almost a full year after the position was vacated. Ultimately, the length of time taken to make the appointment, and the candidate chosen, indicate a sense of urgency that may have been felt by chairman Nicky Oppenheimer, and fellow shareholders, Anglo American and the Botswana government, to get it right. While former CEO Gareth Penny embarked on a 5-year plan to grow the company, which was subverted to an economic crisis navigation strategy, his heir apparent will be tasked to take a much longer outlook. In accepting the position, Philippe Mellier, a French national, will need to assess the company’s potential in the context of its recent performance and corporate structure. While De Beers hailed a strong year of recovery in 2010, from a broader perspective, it appears to have remained rather stagnant over the past decade. Annual group sales in 2000 were around $6 billion, as they still were ten years later.

The adage “If you don’t move forward, you begin to move backward” may have weighed heavily on the conscience of Oppenheimer’s board.

Botswana's Minerals Minister Attending Antwerp Diamond Conference

This year's conference is titled "Diamonds 2020: A window to the future" and will indentify and analyze trends expected to affect the diamond industry in the coming years. Kedikilwe is expected to present Botswana's position on the issues of diamond beneficiation and diamond cutting, polishing, and jewelry manufacturing, areas in which Botswana – currently known mainly as a producer of rough diamonds – is seeking to expand.

Thursday 19 May 2011

Nedbank BettaBeta ETF lists on Botswana Stock Exchange

The Botswana Gazette: "“While Nedbank Capital is justifiably proud of the role it has played in this process, the successful listing of the BettaBeta ETF can undoubtedly be attributed to the perseverance of the Botswana Stock Exchange itself,” Visser says, “because it was the BSE that first identified the need for an affordable and broadly inclusive investment vehicle that would enable more Botswanans (Batswana) to benefit from the country’s economic growth, and it has been their unfailing commitment that has ensured this vision has come to fruition, some four years on.” Visser explains that the Nedbank BettaBeta ETF has been designed to offer investors in the BSE affordable exposure to blue chip companies listed on the JSE/FTSE Top 40 – many of which also operate in Botswana."

Botswana market significant

The Botswana Gazette: "“The Botswana market is quite significant to our business, the thought that since the consumer market is not as large as other parts of Africa is mistaken,” Boulanger said, adding that, “in our approach we are aware that the country’s economy is government driven, as such our product delivery is in line with that fact without leaving the consumer market behind.”"

Tuesday 17 May 2011

De Beers Hires Alstom's Mellier in Echo of Anglo's Carroll

"We're looking for Philippe really to shape De Beers to be relevant for the next generation," Chairman Nicky Oppenheimer, 65, said in a phone interview from London today. "There's no doubt that De Beers, when Philippe comes to the end of this tenure, will be a different company to what it is today. Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/05/15/bloomberg1376-LLA3QM6K50XU01-2V4SFE3598AJU7AKIUA7D198IV.DTL#ixzz1MbGGEEIb

The Development Conundrum Anagram of Africa

GhanaWeb: "'Are you there... Africa of the millions of royal slaves, deported Africa, drifting continent, are you there? Slowly you vanish, you withdraw into the past, into the tales of castaways, colonial museums, the works of scholars' Jean Genet describes Africa in; The Blacks. I am so fascinated by the writings of Walter Rodney and begin to wonder if our policy makers even know where we came from and the development needs of the continent. It is important for the African policy makers come up with policies that aim at benefiting Africans and not other consideration, just as Botswana did remarkably under former president Sir Quett Ketumile Joni Masire. African countries are unjustifiably referred to as developing, in other words, third world countries. Going by the western definition of the status of these countries, they are underdeveloped and less intelligent. “Underdevelopment makes sense only as a means of comparing levels of development. It is very much tied to the fact that human social development has been uneven and from a strictly economic viewpoint some human group have advanced further by producing more and becoming wealthier.” Walter Rodney"

De Beers names new Group CEO

Moneyweb: "The Chairman of the De Beers Board, Nicky Oppenheimer announces that the De Beers Group has appointed Philippe Mellier as the company’s new Chief Executive Officer. Mr. Mellier, currently the President of Alstom Transport and Executive Vice President of Alstom SA, was selected after a wide-ranging search. He will formally join De Beers in July and will chair the company’s Executive Committee and be appointed to the De Beers SA Board."

RBZ urges gold-backed Zim dollar

RBZ urges gold-backed Zim dollar: "Government ditched the Zimbabwe dollar in 2009 after it had been rendered worthless by record inflation levels and adopted multiple foreign currencies with the US dollar, the South African Rand and the Botswana being the most widely used."

Tuesday 10 May 2011

Botswana trade deficit at record high in February

Botswana trade deficit at record high in February: "Botswana's trade deficit widened to a record high of 2.25 billion pula (US$335 million) in February on a sharp fall in diamond and beef exports, Statistics Botswana said on Monday"

Friday 29 April 2011

CIC Energy-JSW deal in trouble over Botswana project

Reuters
CIC Energy Corp's buyout by JSW Energy Ltd might be terminated or delayed if it fails to get a "comfort letter" from the Botswana government for its 300 MW power project in Botswana. Last November, CIC had agreed to a C$422 million, or C$7.42 a share, buyout offer from JSW Energy, subject to CIC having obtained such a comfort letter from the Government of Botswana. CIC said it has begun talks with JSW and the government of Botswana. The discussions are expected to conclude by May 31. CIC said the deal may also be delayed pending talks and fulfilment of several conditions. It had expected to close the deal by end of May. If the proposed acquisition of CIC is not completed by May 31, either CIC Energy or JSW will be entitled to terminate the supplementary agreement, CIC said in a statement. Last month, the Botswana government had declined to renew one of CIC's two mining licenses.

"Should the supplementary agreement be terminated, CIC Energy will review its strategic plans, including exploring alternative corporate transactions."

Public service strike exposes chinks in Botswana's armour

Mail & Guardian
Almost 100 000 public servants have been on strike in Botswana since Monday last week, in an unprecedented display of popular militancy in the country. The nationwide strike, over demands for a 16% salary increase, has potential political implications for a state ruled by the Botswana Democratic Party since independence. Thousands of striking workers have gathered daily at the Gaborone Secondary School (GSS) grounds, chanting anti-government slogans. Some union members say the strike is clearly influenced by events in North Africa, adding that the GSS grounds have been nicknamed "the Tahrir Square of Botswana", recalling the scene of protests in central Cairo. Workers in major towns and villages have also been demonstrating. The strike is said to have paralysed government operations such as health and education. Trade unions claim that about 80% of the civil service has joined in. The state is Botswana's largest employer. Unionists said the government has redeployed members of the Botswana Defence Force, the Botswana Police and volunteers to keep services running. The Botswana Red Cross Society has also been roped in to assist in clinics and hospitals. This week the government of President Ian Khama dismissed reports of a "crisis". The government spokesperson and deputy permanent secretary in Khama's office, Jeff Ramsay, told the Mail & Guardian that the situation is under control. "While the strike has certainly not paralysed the government service as a whole, it has had a negative impact in some areas. No hospitals or schools have been closed, but some have been affected," Ramsay said.

Botswana Beef Exports Slump 89% After Exports to Europe Halted

Bloomberg: "Beef exports from Botswana fell 89 percent in February after the country halted shipments to the European Union, according to the Bank of Botswana. Botswana’s beef shipments were 7.5 million pula ($1.2 million) in the month, compared with 66.3 million in January, according to a statement from the Gaborone-based central bank. The state-owned Botswana Meat Commission is working to solve problems outlined in a January EU inspection, including better identification of animals."

Botswana Couriers set to unlock abundant value

Botswana Business Diary: "Sitting on world class infrastructure owned by both Botswana Couriers along with the parent company’s pervasive nationwide footprint and a healthy international network, Botswana Couriers is set to leverage all the advantages open to it with a long term vision to grow beyond being just a courier company."

BCPYL want De Beers, BDP relations probed

Botswana Gazette
“When the BCP’s central committee convenes sometime next month they will look among other things at our request to file a case against the corrupt relations between the ruling party and De Beers, which dates back to the era of Sir Ketumile Masire’s presidency,”

Botswana central bank keeps rates at 9.5 pct

Reuters
"The current state of the economy and the assumptions on both the domestic and external economic outlook ... suggest that maintaining the prevailing level of interest rates is consistent with the achievement of the bank's 3- 6 percent inflation objective in the medium term"

Sarin Ships Galaxy 1000 Diamond Scanning System to Shrenuj Botswana

"Israel's Sarin Technologies has shipped a Galaxy 1000 diamond scanning system to Shrenuj Group's jewelry manufacturing operation in Botswana, the company reports."

Silver Swan Group and Botswana Metals top the Proactive Investors Rippers today

Proactiveinvestors (AU)

Tuesday 19 April 2011

Optimising economic value creation

"Despite concerted efforts by many African economies to diversify, the continent still remains primarily a commodities exporter. A commodity price shock owing to poor demand might mean less revenue for government and a disruption of government capital projects. The global economic slump made an example of Botswana in this regard when the diamond was relegated to the bottom of, or off, the international customer’s shopping list.

The shift in demand for African products especially by the European Union and the United States, accounting for almost 60% of Africa’s exports, did not help Botswana either. Many businesses went bust while those that trudged on were saddled by unsettled obligations and desperately needed recapitalization. With owed financial institutions demanding their dues it made little sense to ask them for more.

“In such circumstances three traditional options for raising capital are borrowing from the bank, listing on the stock exchange to raise capital or approaching a rich uncle for help,” VPB, founder and managing director, Anthony Siwawa told The Business Diary in an exclusive interview."

The world's premier mining and mining investment website Nimrodel Resources Commences Drilling at Takatokwane Project, Botswana - COMPANY RELEASES | Mineweb

HIGHLIGHTS

Diamond drill rig mobilized and drilling commenced ahead of schedule

First hole has intersected 3 coal seams

Estimated gross mineralisation intervals of the 1st and 2nd coal seams: 3.7m and 16.5m respectively

Nimrodel Resources Limited (ASX: NMR) is pleased to announce the commencement of drilling at the Takatokwane Project in Botswana. The Company was able to secure a diamond drilling rig earlier than planned and the rig was mobilized to site on Thursday last week. Drilling commenced on Friday and continued over the weekend."

Leighton in JV awarded US$586m mining service contract in Botswana

“We are very comfortable working in Botswana and, in particular of course, for the owners of the Jwaneng mine, being the Government of Botswana and DeBeers. Our partners, Basil Read from South Africa and Bothakga Burrow of Botswana, have operated extensively and for many years in the country,” said Mr Stewart.

“Strategically it makes sense for Leighton – the world’s largest contract miner - to take our mining capability to resources markets like Southern Africa. We see this region, which includes Botswana, Zambia, Namibia, Tanzania and Mozambique, as offering a significant range of mining opportunities.

Stocks to watch

Stocks to watch: "The world's biggest contract miner Leighton Holdings has won a $US586 million diamond mining services contract in Botswana as part of a joint venture."

IAMGOLD's Essakane Mine Continues to Operate Without Interruption in Burkina Faso

"'It is business as usual. We have not had any disruption to the Essakane operation. We have had no interruptions to our supply chain. More importantly, all of our employees, including 1,800 Burkinabe nationals, are safe and going about their normal routines."

Analysts recommend G4S Share split

"'Investors are currently facing market liquidity constraints with G4S,' says the research note. 'With only 8 million shares in issue, lack of transferability remains a concern. 'This is further worsened by the fact that the company's share price of P34.30 is too high, rendering it unaffordable for retail investors. We believe a 10 for 1 share split would help promote transferability and liquidity, as well as facilitate the acquisition of the company's shares by small investors.'"

African Mobile Broadband, Data and Mobile Media Market - Market Research Reports - Research and Markets

"This annual report offers a wealth of information on the mobile broadband and data market in 38 African countries as well as the emerging market for mobile content, applications and media on the continent. Subjects covered include:

- Mobile data services – SMS, MMS, WAP, GPRS, EDGE, 3G, 3.5G, 4G;
- 3G and 4G mobile broadband technologies – WCDMA, HSPA, EV-DO, LTE;
- Statistics, trends and analysis;
- Major market players;
- Mobile content, applications and media;
- Mobile TV;
- Location-based services;
- M-commerce, m-payments, m-banking.

The countries covered in this report include: Algeria, Angola, Benin, Botswana, Burkina Faso, Cameroon, Chad, Cote d’Ivoire, Democratic Republic of Congo, Egypt, Ethiopia, Gabon, Gambia, Ghana, Guinea, Kenya, Lesotho, Liberia, Libya, Madagascar, Malawi, Mali, Mauritius, Morocco, Mozambique, Namibia, Nigeria, Rwanda, Senegal, Sierra Leone, South Africa, Sudan, Swaziland, Tanzania, Tunisia, Uganda, Zambia, Zimbabwe."

ThePoor waste management led to tannery Closure'

"'The BMC Wetblue Tannery was closed in 2006 due to a number of long term threats to its financial viability, particularly associated with the management of waste from the facility. Wetblue processing uses a considerable amount of chemicals that are toxic to the environment (eg Chronium),' Assistant Minister of Agriculture Oreeditse Molebatsi said."

Basil Read wins JV Mining Services Contract for Debswana Diamond Mine

Ba"The South African construction company Basil Read has announced that the Majwe Mining Joint Venture, which consists of Basil Read Mining, Leighton International and Bothakga Burrow Botswana, has secured a five-year multi-billion rand mining services contract at the Debswana diamond Mine in Botswana."

Botswana seeks regional beef markets

"The Botswana Meat Commission says it is looking look for alternative beef markets in the Southern African region after the European Union temporarily stopped imports starting in March this year.

Exports to EU markets are expected to resume after six months when the commission should have sorted out concerns raised by the European bloc.

Reports indicate that the suspension of exports is taking a heavy toll on BMC's finances, threatening the livelihoods of the plus-1 000 workers, and the prices paid to ranchers.

Official statistics show that the BMC exported products worth P868.8 million primarily to the EU last year, supporting export parity payments to more than 6 000 farmers and propping up tens of thousands of dependents, support industries."

Group eyes neighbouring markets

Funeral Service Group’s continued impressive performance within Botswana’s boundaries in 2010 is expected to catapult, the Group’s activities in neighbouring markets this year, the company has said.

Botswana’s Government Says It Will Not Pay Striking Workers

Botswana’s government won’t pay state employees who begin a strike over pay today, Festinah Bakwena, director of the Department of Public Service Management, said on state television yesterday.

The workers are demanding a pay rise of 16 percent while the government has offered 5 percent. Botswana’s annual inflation was unchanged at 8.5 percent in March.

ANT Steel plans rebar mill in Botswana

Local media reported that an Indian delegation hosted by the Botswana Export Development and Investment Authority said that it is very keen to set up thermal power stations and steel manufacturing companies in Botswana.

Friday 8 April 2011

Sono Resources Announces Management and Board Appointments

Sono Resources Inc. (OTCQB: GVRS) (www.sonoresourcesinc.com) announced that the Company has appointed Peter Wilson as President and Director, William D. Thomas as CFO and Director and Paul Robert Lindsay as a Director of the Company. During the past 20 years, Mr. Wilson lead the management of several public companies through his private investment firm which is based in Vancouver, Canada. His experience spans a wide range of property negotiations, but primarily the financings of companies in the mining, energy and real estate industries. His business experience includes international assignments in the United Kingdom, Canada, the United States, Switzerland and Norway.

Monday 4 April 2011

CIC’s buyout by JSW in doubt

IOL.co.za: "CIC Energy Corp said the Botswana government had declined to renew one of its two mining licenses there which could derail a buyout of the Canadian coal miner by Indian power utility JSW Energy Ltd. CIC's shares fell 16 percent. The company said it was discussing the new developments in Botswana with JSW Energy, and the deal will not go through unless the latter waives a license renewal condition. Last November, CIC had agreed to a C$422 million, or C$7.42 a share, buyout offer from JSW Energy, subject to its getting both its Mmamabula East and Mmamabula South mining licenses renewed in Botswana. The buyout offer comes at a time when Indian firms are scouting coal assets overseas to fire up power plants at home, looking to benefit from the energy-hungry nation's aim to halve its nearly 14 percent peak-hour power deficit within two years."

Friday 25 March 2011

Botswana Diamonds gets licence in Cameroon

Botswana Diamonds has been awarded an 8,087 square kilometre diamond exploration reconnaissance licence in Cameroon.

The concession is held 85% by Botswana Diamonds and 15% by local Cameroon partners.

The reconnaissance licence is for an initial period of 12 months with an automatic right to a one-year extension on performance of the agreed work programme - including sampling, geochemical work and geological mapping.

Following completion of the agreed work, Botswana Diamonds can apply for one or more multi-year exploration licences of up to 1,000 square kilometres each.

BNPC perturbed by Botswana's work ethic

Mmegi

Botswana's Economy to Grow 10-12% This Year, Mohohlo Says

Botswana's economy may expand by 10 percent to 12 percent this year on a recovery in world diamond demand, said Linah Mohohlo, the governor of the country's central bank.

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/03/23/bloomberg1376-LII5T36TTDSA01-0R5L81BDJ999H4BNL11IVELFHI.DTL#ixzz1HbwFQ9FY

GIA Offers Diamond Grading Classes in Gaborone

The Gemological Institute of America (GIA) will offer diamond grading lab classes in Gaborone, Botswana, in April and again in September. These classes offer a practical, hands-on approach to learning and are designed to help students in Botswana increase chances for employment and career development within the diamond production industry.

Saturday 19 March 2011

Gold EFT: Is gold about to be crushed?

MSN Money

What's ahead for the stock market

Events in Japan, Libya and Bahrain will certainly continue to affect markets. Investors will also pay close attention to quarterly results from Tiffany, General Mills, Best Buy, Oracle and Research In Motion.

Thursday 10 March 2011

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Monday 7 March 2011

Tacy LTD - BOTSWANA'S JANUARY DIAMOND EXPORTS UP 40%

Botswana saw a 40 percent increase in the value of its January diamond exports, which totaled US$354.3 million, compared to the same month last year. According to statistics published by the Bank of Botswana, the country's January 2011 exports also rose 136.8 percent over the previous month.

In 2010, the country exported US$3.2 billion worth of diamonds, a 45 percent increase over 2009 exports.

The bank's figures are sourced from the Central Statistics Office, the Diamond Trading Company Botswana, and two of 16 diamond manufacturers operating in Gaborone.

Saturday 29 January 2011

Thursday 13 January 2011

De Beers Botswana Managing Director `Stable' After Attack by Lion on Farm

Bloomberg

Botswana Expects Fuel Shortage Until March, Energy Ministry Says

BusinessWeek: "Botswana is experiencing a shortage of fuel that will probably continue until March, the Ministry of Minerals, Energy and Water Affairs said.

The situation is being managed and won’t affect economic output, the Gaborone-based ministry said in e-mailed statement today. The government is trying to import fuel from Namibia and Mozambique because of disruptions in supplies from South Africa and has released a total 17.4 million liters (4.6 million gallons) from its stocks, it said.
“The supply shortage is likely to continue up to March 2011, and the government will continue to work diligently with the oil industry to manage the situation in order to avoid any interruptions to the economy,” the ministry said."

Mining sector forecast to grow 8 percent

Mmegi: "Botswana's mining sector is forecast to grow by an average eight percent between now and 2015 with investments in new projects underpinning the growth, analysts predict."

Pula slid against the Rand

Botswana Gazette

P13 million loss at Botswana Post

Botswana Gazette

IMF advises Botswana to cut expenditure

The Botswana Gazette

Nedbank Plans Botswana ETF Listing

emii.com: "The portfolio will be listed on the stock exchange by February 2011. It will be the exact replica of the FTSE/JSE Top 40 Index, a measure of South Africa’s 40 most prominent companies."

Wednesday 12 January 2011

Report applauds Barclays growth

Mmegi: "Barclays Bank Botswana has registered remarkable growth in the past few years, taking calculated risks which have borne fruit with operations growing both in value and market coverage, analysts say.

According to a counter analysis report by Stockbrokers Botswana, the bank - which recently entered the Bancassurance market - has managed to almost double its footprint in the past four years while its assets and profits have also significantly firmed."

Recently released market study

Botswana Mining Report Q1 2011: "In December 2010, Australian copper miner Discovery Metals plans to commence construction on its Boseto copper project in the Kalahari copper belt, following the completion of a bankable feasibility study (BFS) for the project. In August 2010, Discovery announced a JORC-compliant initial reserve estimate at Boseto of 24.1mn tonnes (at 1.3% Cu and 16.7 g/t Ag above a cut-off grade of 0.3% Cu). The total JORC-compliant mineral resource for Boseto is 102.8mn tonnes, at 1.4% Cu and 17.3g/t Ag, containing 1.4mn tonnes of copper and 57mn oz of silver."

Moody’s Expects Botswana’s Deficit to Continue

Diamonds.net"RAPAPORT... Moody’s Investor Service expects Botswana to remain in deficit in the short to medium term, based on the slow pace of the diamond industry’s recovery. The rating agency downgraded its outlook on the country’s A2 government bond ratings from stable to negative, explaining that the financial downturn also had a profound effect on Botswana’s economy. Kristin Lindow, Moody’s senior vice president and regional credit officer for Africa, said that Botswana’s fiscal deficit will be particularly large again next year — and possibly beyond next year — due to the cost of completing its capital expenditure projects, which are designed to promote economic diversification and the expansion of the private sector."

BoB Plans To Acquire A Bank In Botswana

DealCurry: "Bank of Baroda (BoB) is planning to acquire a bank in Botswana, through its Botswana-based subsidiary for around $100 Mn, to expand its global footprint."

Australian Market Report of January 10, 2011: Strzelecki (ASX:STZ) Granted Copper Exploration Licence in Poland

Australian Market Report of January 10, 2011: Strzelecki (ASX:STZ) Granted Copper Exploration Licence in Poland: "Botswana Metals Limited (ASX:BML) has received additional laboratory results for DBRC014 hole at its Dibete prospect in Botswana. The results includes 3m at 9.16% Cu and 894 g/t Ag from a depth of 16m. The results confirm continuity and thickness of the supergene blanket of copper and silver over a distance of approximately 200 metres. The Company will commence further drilling during the March Quarter for further assessment of this supergene Cu-Ag mineralisation."

BoB may acquire bank in Botswana

BoB may acquire bank in Botswana: "Cashing in on the increasingly lucrative business ties between India and other African countries, Bank of Baroda, the third largest public sector bank is planning to acquire a bank in Botswana."

SACU revenues to slide by P2.1bn - IMF

Mmegi Online
As government pushes for a balanced budget by 2012/13, the IMF predicts that SACU revenues will slide by 32 percent to P4.3 billion this year, before recovering to an average of P6.5 billion from 2012 to 2015. The revenues are a far cry from the average P9.3 billion paid to Botswana from the SACU pool between 2006 and 2009.

Botswana Metals hits 38m at 1.72% copper and 119.5g/t silver at Dibete

Proactiveinvestors (AU)
Shares in Botswana Metals (ASX: BML) have jumped 242% as the company reports the results of its recent Reverse Circulation drilling program at its Airstrip Copper anomaly in Botswana.

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