Archive for June 24th, 2008

source: Mmegi

WINDHOEK: South Africa will be hosting the Southern African Customs Union (SACU) Council of Ministers’ meeting on Friday at the Midrand Convention Centre in South Africa, says the SACU Secretariat in Namibia.

According to the secretariat, this will be the 15th SACU Council of Ministers’ meeting after the coming into force of the 2002 SACU Agreement on July 15, 2004.

The council of ministers’ meetings which are held on quarterly basis comprises ministers of finance, trade and industry from all the five SACU member states of Botswana, Lesotho, Namibia, South Africa, and Swaziland.

Under the SACU accord, the council is the highest decision making authority on all SACU matters. The Council of Ministers meeting will, among other things, receive a report of the executive secretary, which will include a summary of the emerging policy issues following the [continue reading]

source: allAfrica (Washington, DC)
23 June 2008
Posted to the web 24 June 2008

Stephen Kaufman

Opposition candidate Morgan Tsvangirai pulled out of elections due to the escalating violence against his supporters.

In June 23 statement, Rice condemned the violence being perpetrated against the people of Zimbabwe by President Robert Mugabe and his supporters. “It is abundantly clear that Mugabe is determined to thwart the will of the people of Zimbabwe as so clearly expressed on March 29,” in which MDC candidates won a majority of the country’s parliamentary seats and Tsvangirai received more presidential votes than Mugabe, she said.

Rice also said it was “particularly troubling” that international election monitors who were in the country for the scheduled presidential runoff vote, also have been reported as victims of “state-sponsored violence.”

The secretary said Mugabe’s regime “cannot be considered legitimate in the absence of a runoff” and called for [continue reading]

source: Mmegi
By Business Reporter

In a space of less than two months, Botswana retail fuel prices have been increased again as inflation continues to rocket.

The Ministry of Minerals, Energy and Water Resources said last Wednesday that it wished to inform the ‘general public and other consumers that the retail pump prices for petrol, diesel and illuminating paraffin will be increased with effect from Thursday June 19, 2008″.

The ministry said that the price adjustment for both unleaded and leaded petrol will increase by 87 thebe per litre, diesel by 135 thebe per litre and illuminating paraffin by 145 thebe per litre. The statement added that the price adjustments include an adjustment of road levy cost from 0.5 to 6.0 thebe per litre.

Permanent Secretary Gabaake Gabaake said the price rises were caused by continuing unprecedented worldwide increases in crude oil prices.

Crude oil prices averaged about [continue reading]

source: IOL
Gill Gifford
June 24 2008 at 06:29AM

In little over a week, motorists will be hit by the seventh fuel price increase this year as petrol goes up by an estimated 70c a litre.

According to a price forecast based on information available last Thursday and the current price regulation guidelines stipulated by the department of minerals and energy, the cost of petrol, currently hovering just below the R10/litre mark, is set to rocket at midnight next Tuesday.

Analysts are expecting an increase of about 68c/litre, although the final figure will be announced by the department of mineral and energy Affairs after 1pm on Friday.

Motorists are now paying between R9,81 and R9,96 a litre. After the hike they could be paying about R10,60/litre.

The hike is estimated, according to Shell’s website, at between 70c and 74c/litre for petrol and [continue reading]

source: Mmegi
By Business Reporter

MOOKANE: Despite hurdles that usually come with projects of the magnitude of the envisaged multi-billion Pula Mmamabula Export Energy Project, promoters say they are eager to see the dream come to fruition.

And a local geologist, who has been working on the project for over three years, says if he had money, he would pour it into the project if it failed. The geologist says he has been working hard to ensure that Mmamabula is a success, arguing that he sees no reason why Botswana, with vast coal reserves, should allow the project to collapse.

At a guided tour organised by project sponsors – CIC Energy – for the Minister of Minerals, Energy and Water Resources, Ponatshego Kedikilwe, CEO and company president Gregory Kinross also indicated that he would not want to see the project die.

“There is no doubt that there will be rocky patches on the way, but we want to make this project a success,” pledged the man who is [continue reading]

source: Engineering News
By: Liezel Hill
Published: 23 Jun 08 – 15:31

Toronto- and Botswana-listed CIC Energy still hopes to be generating electricity by early 2013 from a coal-fired power station at its Mmamabula energy project, but will likely be doing it on a smaller scale, president Greg Kinross said on Monday.

The company was unable to reach an agreement with the preferred engineering, procurement and construction (EPC) contractor before a deadline for securing manufacturing slots for big long-lead-time equipment passed last week, and is now looking at “alternative configurations”, which will probably mean building a smaller plant to begin with, and then adding more capacity at a later stage.
Shares in the company plunged when they resumed trading on Monday, after having been halted pending news on Friday. CIC Energy was [continue reading]

source: International Herald Tribune
The Associated Press
Published: June 23, 2008

BRUSSELS, Belgium: European Union officials said Monday the withdrawal of opposition leader Morgan Tsvangirai from Zimbabwe’s run-off election was understandable since the vote was unlikely to be free and fair.

EU foreign policy chief Javier Solana and Development Commissioner Louis Michel said the “unacceptable level of violence” and intimidation in Zimbabwe in recent weeks has to be addressed at a summit of African leaders in Egypt later this week. A statement issued by Solana’s office said the election had become a “travesty of democracy.”

Tsvangirai pulled out of Zimbabwe’s runoff on Sunday, declaring that the presidential election was no longer credible and that too many of his supporters had died. Zimbabwean President Robert Mugabe, whose party has been blamed for much of the violence, is now likely to continue his 28-year rule.

Swedish Foreign Minister Carl Bildt said he expected the crisis in Zimbabwe to be debated by the U.N. Security Council “within days.”

He said the main responsibility to stop what he called “dictatorship by violence and terror” was now on Zimbabwe’s neighbors, particularly [continue reading]

source: News24
23/06/2008 19:11 – (SA)

Pietermaritzburg – Jacob Zuma’s lawyer filed papers with the High Court here on Monday morning, arguing that his corruption trial be declared invalid.

The African National Congress president’s lawyer, Michael Hulley, said the National Prosecuting Authority (NPA) had been sent copies of the document and that the matter was expected to be heard in Pietermaritzburg High Court on August 4 and 5. This was ahead of the start of his corruption trial on August 14.

Zuma was seeking an order declaring that [continue reading]

source: Mining Weekly
By: Christy van der Merwe
Published on 23rd June 2008

Coalbed methane (CBM) exploration company, Saber Energy Corp, has completed its first phase of exploration in the Kalahari, in Botswana, and has drilled over 650 holes as well as conducting a feasibility study and environmental impact assessment for the possible routing of a pipeline to transport the gas produced to off-takers.

“All the parameters look good, and the depth of exploration being done is giving us more confidence as we go ahead,” said Saber Energy director Colin Kinley, while explaining operations on site to a number of Botswana government and Botswana Power Corporation (BPC) representatives as well as independent advisors and media, on Friday.

The holes drilled allow the company to understand the geology better, and test the gas content of [continue reading]