Archive for July 9th, 2008

source: Mmegi
Staff Writer

Deposits at the Mupane gold mine can be mined till the second quarter of 2012, the parent company Iamgold announced this week.

The Canadian gold-miner said it sees a longer life for the mine than earlier expected. Mupane is the only gold mine in Botswana and was expected to start closing by 2011. Iamgold said it expects to continue mining at Mupane until the second quarter of 2012, after declining costs gave it the leeway to increase mineral reserves by a net 64,000 ounce.

The company plans to continue to evaluate mining costs to determine whether it can develop additional resources to extend the mine life beyond 2012, Iamgold president and CEO, Joseph Conway said. “The increase in reserves is a direct result of Iamgold’s aggressive cost and production [continue reading]

source: Standay Standard
by Sunday Standard Reporter
08.07.2008 9:08:03 A

Firestone Diamonds plc, the AIM-quoted diamond mining and exploration company, last week announced “positive results” from bulk sampling at its BK11 project near Orapa as its sampling results showed to high quality diamonds of about US $ 200 per carat while the operating costs for that were substantially lower.

According to the report, which was posted on the company’s website, BK 11 showed some high quality diamonds of between 10 carats to 33 carats with a robust economic potential with an estimated gross value of $S 30 per tonne at the cost of between US $ 7-8 per tonne.

Firestone said in a statement that a decision regarding BK 11 will be developed by end of next year. The move comes on the heels of its prospecting licence in Tsabong area, where it started at the beginning of the year and whose results were very encouraging. That will further be triggered by BK 16 which is also [continue reading]

source: News24
08/07/2008 21:45 – (SA)

Pretoria – The people of Zimbabwe need to remove themselves from their present crisis situation, said Foreign Affairs Minister Nkosazana Dlamini-Zuma on Tuesday.

“The crisis in Zimbabwe needs all the Zimbabweans to work together to extricate themselves from their positions,” Dlamini-Zuma told a gathering at the presidential guest house after the eighth meeting of the SA-UK Bilateral Forum.

“South Africa has for a long time said Zimbabwe needs an inclusive government to get out of their problems.”

British Foreign Secretary David Miliband said the UK stood by its position that the crisis in Zimbabwe was a regional one and that [continue reading]

source: Mmegi
By Lawrence Ookeditse

Ministry of Environment, Wildlife and Tourism’s Department of Environmental Affairs launched the revised National Environmental Education Strategy and Action Plan (NEESAP) at the National Botanical Garden in Gaborone last Friday.

Ministry’s deputy permanent secretary Mpho Mmopi explained that NEESAP was established under the Natural Resources Conservation Strategy passed by Parliament in 1990.

He said the revised Action Plan is a result of extensive consultation with stakeholders involved in environmental issues. “This Plan was launched in 1997 and from 1997 to 2003 the five-year implementation review time elapsed. The review began in 2006 ending 2007 and it involved consultations with environmental practitioners and customers,” Mmopi said.

The revised NEESAP, Mmopi added, is aligned to a number of key developmental initiatives, among them the national Vision 2016 and [continue reading]

source: Standay Standard
by Phillimon Molaodi
08.07.2008 9:09:43 A

The Botswana Stock Exchange (BSE) domestic board re-bounded for the first time in nearly twelve months, cutting bear market streak that has dominated the market since July last year, Capital Securities said in its research note last week.

According to the report, domestic board saw a significant rally in four weeks ending June 27— 3.5 percent higher— closing the month at 7175.24 points.
The brokerage firm said “there are clear indications that the market is turning around” as capitalization of the board rose to P27,939 million against P 27.3 million from a month ago- and down P 37.4 million against 52 weeks ago.
The domestic company index (DCI) was recording its first four weekly gain ever since July last year that was powered by bullish run that was spear-headed by both blue chip stocks and mid-cap counters.

The report notes that the large caps put on 1.9 percent while the mid caps saw a giant leap forward of [continue reading]

source: IOL
July 08 2008 at 07:32PM

South Africa is on track and there will be no Plan B to host the 2010 World Cup in another country unless South Africa is hit by a major natural disaster.

That was stressed by Fifa secretary general Jerome Valcke after the 2010 Local Organising Committee’s Board meeting held in Johannesburg on Tuesday.

Valcke was replying to media questions on a statement made by Fifa president Sepp Blatter in Vienna recently that Fifa had a Plan B should South Africa not be able to host the biggest sporting event on the world calendar.

“We (Fifa) are happy with the progress made by South Africa so far,” said Valcke.

“All the deadlines we set have been reached and met. We are confident that [continue reading]

source: Mmegi

The SACU Council Of Ministers meeting held on June 27 in South Africa has approved the SACU-MERCOSUR Preferential Trade Agreement (PTA) negotiations concluded in April, a statement said last week.

The SACU-MERCOSUR PTA Agreement is aimed at promoting trade between the two sides on a selected number of products. It contains 1 000 tariff lines on both sides for which preferences will be granted.

“The PTA is significant in that it is the first trade agreement concluded by SACU as a single entity,” said the SACU secretariat.

“This agreement is also important in that it is with another developing region, giving meaning to the objectives of South-South cooperation and integration,” it added.

The statement said as the two parties explore possibilities for further trade liberalisation, they will take into [continue reading]