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.

Standard Bank named African Bank of the Year

In addition to becoming a full-service financial services firm domestically, Standard Bank also has ambitions to enter other emerging markets, particularly those with links to Africa.

SA move costs Botswana jobs

South Africa's resoluteness regarding an export incentive scheme for textile manufacturers is forcing Botswana's largest textile company to close its doors in December 2009. About 5 000 jobs will be lost at Caratex Botswana, one of the neighbouring country's major earners of foreign exchange, when the company ceases trading at year-end according to its current managing director and owner Craig Chow. Chow said the decision had been taken because of the procrastination in arriving at a decision about the export incentive scheme. Ever since March manufacturers in the Southern African Customs Union (Sacu) have been in the dark as to which products would finally qualify for the scheme.

SA move costs Botswana jobs

South Africa's resoluteness regarding an export incentive scheme for textile manufacturers is forcing Botswana's largest textile company to close its doors in December 2009. About 5 000 jobs will be lost at Caratex Botswana, one of the neighbouring country's major earners of foreign exchange, when the company ceases trading at year-end according to its current managing director and owner Craig Chow. Chow said the decision had been taken because of the procrastination in arriving at a decision about the export incentive scheme. Ever since March manufacturers in the Southern African Customs Union (Sacu) have been in the dark as to which products would finally qualify for the scheme.

Atlas Copco opens office in Botswana

"The establishment of Atlas Copco in Botswana is expected to help the country diversify its economy through the mining and construction sectors, as well as strengthening the manufacturing sector. Speaking at the official opening of Atlas Copco on Thursday, the Assistant Minister of Trade and Industry, Ms Dorcas Makgato-Malesu said her ministry was prepared to support the South African company as it settles and establishes itself in Botswana. My ministry is committed to provide a conducive environment for you to grow as you help us diversify our economy, she said."

Botswana to add 250 MW via integrated gas, coal bed methane plants

In his most recent State-of-the-Nation address, President Seretse Khama Ian Khama said the project involved the development of an integrated 250 MW open-cycle gas turbine and coal bed methane power plant fed by substations situated at Orapa for 90 MW and the Mmashoro area for 160 MW.

Non-mining sector beat recession - Khama

Khama said the nation would be counting on newly created Hubs in Agriculture, Education, Diamonds, Innovation, Health and Transport for diversification of the economy. He said a general presentation by the Hubs was made to the private sector in the latter part of 2008, while another presentation and update would be made shortly. ' I also expect all the Hubs to engage the private sector on a sector specific basis from time to time. There will be an opportunity for the private sector to invest in the infrastructure development of the Innovation Hub early next year, in keeping with our policy of Public-Private Sector partnership', Khama told the HLCC.

Debswana pumps P3.5bn into Cut 8 project

"Styled Cut 8, the critical stay-in-business project is one of a number by which Debswana aims to sustain its revenue streams and ensure the continuity of shareholder returns into the latter part of the next decade."

Botswana Telecom Expands Mobile Network With Ceragon

Ceragon Networks Ltd. (NASDAQ and TASE: CRNT), a leading provider of high-capacity wireless backhaul solutions announced that Botswana Telecommunications Corporation (BTC) selected their advanced solutions for upgrading its nationwide wireless backbone as well as the backhaul network of its cellular subsidiary beMobile. Ceragon solutions will enable BTC to support rapid subscriber growth and meet its service expansion plans. Equipment orders related to this deployment top $1.5 million.

With Botswana's high mobile phone penetration-rates in Africa, BTC offers voice and data services supported over its mobile network. Ceragon’s FibeAir(R) solutions that support high speed wireless transmission, will enable the BTC to continue to offer its growing customer base high-quality and disturbance free service delivery as part of the Rural Services Improvement and Expansion project that BTC has signed with Botswana Telecommunications Authority. Deployments are already under way and are expected to be completed by the end of 2009.

"In order to succeed in the dense telecom market of Botswana, it was important for us to select a backhaul solution that will ensure high quality service delivery at a competitive price," said a BTC spokesperson.

Watch out ORANGE (BOTSWANA)

Lucara to Acquire AK6 Diamond Project From De Beers.

Lucara to Acquire AK6 Diamond Project From De Beers.

Lucara Diamond Corp. (TSX VENTURE: LUC) entered into a Sale Agreement to acquire a 70.268% interest in Boteti Exploration (Pty) Ltd. ("Boteti"), which holds a 100% interest in the AK6 advanced diamond development project located in the Orapa (largest diamond region in the world) of Botswana from from De Beers Prospecting Botswana (Pty) Limited ("De Beers").

African Energy Discovers Uranium Mineralization At Gojwane Prospect, Botswana - Energy Business Review

African Energy Discovers Uranium Mineralization At Gojwane Prospect, Botswana - Energy Business Review

Posted using ShareThis

AfDB Approves 153 Million for Botswana Power Project

allAfrica.com: AfDB Approves 153 Million for Botswana Power Project

Mmegi Online :: Botswana businesses the most upbeat in the region

Mmegi Online :: Botswana businesses the most upbeat in the region


Posted using ShareThis

IAMGOLD Increases 2009 Production Guidance

Assumptions used in the updated 2009 guidance include an annual average price of gold and fuel at $935 per ounce and $60 per barrel, respectively. All dollar amounts are expressed in US dollars, unless otherwise indicated.

Mmegi Mobile :: UK equity firm starts African expansion in Botswana

A private equity firm focussing on micro-finance and telecommunications will soon open an office in Gaborone as part of its expansion into the African continent.

The UK's Ariya Capital, a private equity firm specialising in sustainable investments in frontier markets, says it has already sourced manpower for the project that will see it join the few private equity firms that already operate in Botswana."

Hana Mining RC Drilling Intersects 2.72% Cu and 64.8 g/t Ag Over 14 Metres in North Limb of Banana Zone | SYS-CON CANADA

Hana Mining RC Drilling Intersects 2.72% Cu and 64.8 g/t Ag Over 14 Metres in North Limb of Banana Zone SYS-CON CANADA

Botswana’s Khama Must Wean His Country Off Diamond Dependence - Bloomberg.com

"Khama, whose Botswana Democratic Party won 45 of the 57 seats in parliament in the Oct. 16 general elections, is presiding over an economy that will contract 10.3 percent this year, according to the International Monetary Fund, because of a slump in demand for diamonds caused by the worst global recession since World War II."

De Beers Sees Recovery in International Diamond Market, FT Says - Bloomberg.com

De Beers Sees Recovery in International Diamond Market, FT Says - Bloomberg.com

Shared via AddThis

Botswana Ruling Party Claims Victory in Elections (Update1) - Bloomberg.com

"Oct. 17 (Bloomberg) -- Botswana’s ruling party, which has governed the world’s biggest diamond-producing nation for more than four decades, claimed victory in parliamentary elections, as electoral officials continued counting ballots."

Botswana Sept inflation quickens to 7.0 pct yr/yr | Reuters

"JOHANNESBURG (Reuters) - Botswana's consumer inflation quickened to 7.0 percent year-on-year in September from 6.1 percent in August, the Central Statistics Office said on Thursday."

Mining - Hong Kong investment firm eyes Botswana for uranium | Moneyweb

"As China's hunger for resources at home increases, China Growth Minerals (CGM) has been mandated to invest in mineral projects across the world and it is doing so. CGM is eyeing Botswana's numerous uranium deposits. It has reached an agreement to acquire 6.34% or 5.92m shares of Australia's Impact minerals."

UPDATE 1-African Copper resumes concentrate shipments | Reuters

UPDATE 1-African Copper resumes concentrate shipments | Reuters: "UPDATE 1-African Copper resumes concentrate shipments"

The reality behind Africa's 'blood diamond' trade - December 11, 2006

The reality behind Africa's 'blood diamond' trade - December 11, 2006: "But the system is hardly flawless, even in the U.S. In September the U.S. Government Accountability Office found that Customs and Treasury officials were only haphazardly enforcing the system, leaving companies to monitor themselves. Last year about 300,000 more carats were exported from than imported to the U.S. - which produces no commercial diamonds itself. Representatives from all 71 countries met last month in Botswana to try to tighten loopholes and squeeze out nonmembers. 'There are fewer and fewer countries left that nonmembers can trade with,' says Sue Saarnio, the U.S. State Department's representative to the November conference."

FNB Botswana appoints new CEO

FNB Botswana appoints new CEO

Shared via AddThis