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."

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.