Archive for the ‘Mining’ Category

source: Mmegi
BRIAN BENZA
Staff Writer

Shrenuj Botswana, a subsidiary of the Indian diamond giants Shrenuj and Company Group, is set to open Botswana’s first diamond jewellery manufacturing plant, thus putting the country on the road to becoming a regional diamond centre.

In an interview with Business Week, General Manager Kim Lanny said in Gaborone that the P30 million jewellery manufacturing operation at the Diamond Technology Park “will open later this month,” first producing jewelleries for the United States of America (US) market and later for the Southern African region.

“From the 16 DTC Sightholders, Shrenuj Botswana was the last company to start working in Botswana. However, it has become the first to expand through the diamond pipeline (Diamond manufacturing to fully-made jewellery). We are proud of it and I believe it shows our [continue reading]

source: Sunday Standard
by Prof Malema
05-11-2010

African Diamond Plc, the diamond company involved in AK 6 resources, has issued out a scheme of arrangement to shareholders, indicating that it is planning to de-list on both the London and Botswana Stock Exchanges (BSE), before the end of the year.

The move follows what was dubbed a “compelling” offer by Lucara when it proposed to acquire all African Diamonds shares and locking its shareholders into a much bigger company with operations in the southern African region.

The total value of the proposed transaction will be $ 82 million Canadian (US $ 80 million, P 528 million ) —representing a 27 percent upside — based on Lucara price and Canadian dollar exchange rate as at the close of [continue reading]

source: Mmegi
BRIAN BENZA
Staff writer

Construction of the AK6 diamond mine in Boteti is set to take off in the next few months with full commissioning targeted for early 2012.

A statement released this week by joint-venture partners, Lucara Diamonds and African Diamonds, announcing a formal decision to proceed with development of the mine says the companies have received approval for construction and have concluded an agreement with the Botswana Power Corporation (BPC) for bulk power supplies.

Senior staff have been recruited for the AK6 project, including the chief executive, the general manager, the finance manager, the human resources manager, and the [continue reading]

source: Mmegi
Mbongeni Mguni
Staff Writer

Debswana has roped in Alexander Proudfoot, a world-leading operational improvement firm, to streamline and cut costs throughout its operations as part of the diamond giant’s Operations Review.

Alexander Proudfoot, with 64 years of global experience, specialises in helping firms improve their operational, and consequently, financial performance. The Chicago-born and London-headquartered firm has conducted similar consultancies for De Beers, BHP Billiton, Anglo Coal, Lonmin and Anglo Vaal, among others.

Officials from Debswana’s Cost and Operational Efficiencies Project Team said Alexander Proudfoot teams are already on site in [continue reading]

source: Sunday Standard
by Kagiso Madibana
15-10-2010

Despite workers’ reservations, Debswana is reportedly making strides with the implementation of the Operations Review Project as well as its privatising and outsourcing project.

The controversial process that will change the way the mining company conducts business, recently came under heavy criticism because of the negative impacts it has on the job security of the company’s current employees, with about 1278 at risk of losing their jobs. Debswana employs about 6000 people.

Trade Unions have even gone to the extent of handing over petitions to the Managing Director, Blackie Marole, against the initiative.

Marole recently wrote an internal memorandum to his employees in which he affirmed that [continue reading]

source: Mmegi
by Kagiso Madibana
10-10-2010

Local contractors, Majoboge Construction and BWR Quantity Surveyors, have been awarded P2.2 million for the expansion of facilities in Jwaneng.

The development is a scheme by mining Mogul, Debswana, to expand the Jwaneng Mine Hospital, through its Cut-8 project.

The company recently announced that the project entails an extension of the pharmacy area as well as an upgrade of the out-patient department. Expectations are that the project should be running for only four months.

While other private hospitals are rumoured to be deep in financial troubles, the company said that, due to the Cut-8 project, there has been an influx of people in [continue reading]

source: Mmegi
MBONGENI MGUNI
Staff Writer

Debswana plans to cut its energy usage by 30 percent, saving millions of Pula in the annual cost of electricity, fuel and other energy sources at its Orapa, Letlhakane and Jwaneng Mines.

Annually, Debswana spends between P160 and P170 million on its electricity bill, consuming 85 and 90 megawatts at peak or 560 gigawatts per hour, the latter equivalent to 560 billion watts per hour. While BCL Mine is the country’s single biggest consumer of electricity, Debswana is the largest aggregated user, across its three mining operations, consuming about 20 percent of national electricity supplies.

Debswana Senior Manager Energy Conservation, Bernard Busani explained that the 30 percent energy savings being sought were in terms of the company’s energy per unit production or [continue reading]

source: Mmegi
ISAAC PINIELO
Correspondent

SELIBE-PHIKWE: The General Manager of BCL Mine, Montwedi Mphathi, says they are pushing ahead with plans to diversify the mine and extend its life to 2020.

Speaking at the launch of the mine’s new corporate values held at Phokoje Bush Lodge last Friday, Mphathi said BCL has developed a roadmap towards becoming a globally credible diversified base metal and related products’ development, services and supply business.

Through the roadmap, the mine will increase ore resources and reserves. The key objective is to find new resources to enable the life of the mine to be extended to at least 2020.

“Targets for the exploration programme was to come up with at least nine million tonnes of new resources in extensions to current ore bodies and a further 31 million tonnes from new ore bodies within the [continue reading]

source: Mmegi
MBONGENI MGUNI
Staff Writer

Five new coal sites uncovered by local and international geologists could hold 2.8 billion tonnes of coal, thousands of times more than the country’s current coal production of about one million tonnes per annum.

The country’s sole coal producer, Morupule Colliery Limited, holds 83 billion tonnes of coal in its concession area. The latest finds indicate that Botswana’s estimated 212 billion tonnes of coal are spread across the north and east of the country.

According to Analytika Holdings’ Director, Alan Golding, the new and undeveloped coal sites include Sowa Pan, Dukwe, Lechana-Tshimoyapula, Moiyabana and Takatokwane.

Although in the past geological tests have taken place in the five areas, local geological firm, Analytika, teamed up with the Prospecting Licence (PL) holders of the finds to upgrade resource studies. By further drilling, sampling and studying of [continue reading]

source: Mmegi
MBONGENI MGUNI
Staff Writer

In a move that will briefly give the state full ownership of the country’s sole coal mine and associated works, the government is on the verge of acquiring De Beers’ interest in Morupule Colliery.

The Government intends to bring in a strategic partner to replace De Beers in a process calculated to ensure that Botswana has more control over the prized national asset whose supplies are key to the crucial 600-megawatt Morupule B project.

Presently, the government indirectly owns 50 percent of Morupule Colliery Limited (MCL), which is a wholly owned subsidiary of Debswana, the diamond mining giant in which the [continue reading]

source: Sunday Standard
by Sunday Standard Reporter
12-09-2010

The diamond industry is bouncing back to the pre-crisis levels pulling itself along with the country from the worst recession in nearly half a century, the International Monetary Fund (IMF) said in its report that was put on Bank of Botswana website this week.

The global financial watchdog said the developments bodes well for the country but urged fiscal restraint, which include a hike in fuel prices, broadening tax bases, locking in inflation to target range, freezing government staff recruitment and new developments, cancel scare skills allowance in a bid to bring back the country’s finance on track.

The IMF said over the last few years government embarked on major spending spree on recurrent and developmental budget, which is threatening the solvency of [continue reading]

source: Mmegi
MBONGENI MGUNI
Staff Writer

The Botswana Stock Exchange (BSE) has de-listed DiamonEx Limited, close to 24 months after the Australian company requested suspension of its counter on the local bourse.

DiamonEx, which operated Lerala Diamond Mine prior to its suspension early last year, ran into a financial gridlock following the collapse of diamond prices in the last quarter of 2008.

The diamond price collapse coincided with Lerala’s first production from which DiamonEx directors were expecting to begin recouping their investment and settling creditors.

Yesterday, a BSE notice indicated that [continue reading]

source: Mmegi

ASX-listed Discovery Metals Limited (DML) on Tuesday reported that a bankable feasibility study (BFS) of its BOSETO copper project, in Botswana, has demonstrated the economic potential for the operations to continue beyond 15 years.

The BFS evaluated all aspects of the development of an openpit mine at BOSETO, which would produce and process three-million tonnes a year of copper/silver ore, over a five-year period.

The purpose of the BFS was to allow for the rapid development of the BOSETO site, with construction starting in the fourth quarter of this year, and commissioning of the concentrator set to start in the first quarter of 2012. The development plan, in turn, evaluated the longer-term mining potential at BOSETO and included the establishment of both an open-pit and underground mine to feed the three-million ton a year concentrator.

The development plan found that from [continue reading]

source: Mmegi
Staff Writer

Diamond magnate, Nicky Oppenheimer, has been appointed Debswana Chairman with effect from August 18, a position he will hold until the end of next year.

Oppenheimer’s appointment was occasioned by the resignation of Gareth Penny as De Beers’ CEO and Debswana Chair.

In a statement Thursday, Debswana said Oppenheimer, who is also De Beers Group Chairperson, had previously served as the Debswana Chair from January 1998 to March 2007. He has been on the diamond giant’s board since January 1980, is also Namdeb Chair, as well as a non-executive director of Anglo American plc. Debswana officials explained that the Debswana Chairmanship rotates between a nominee of the Botswana Government and Delibes Holdings Limited every two years. Delibes Holdings Limited is the De Beers entity that holds 50 percent of [continue reading]

source: Mmegi
BRIAN BENZA
Staff Writer

Botswana-focused uranium hopeful, Impact Minerals, has discovered large quantities of uranium deposits in the Central District, adding impetus to the Australia Stock Exchange-listed miner’s quest to open a mine in Botswana soon.

In a statement circulated to shareholders this week, Impact says it has unearthed significant resources in the Shoshong and Ikongwe areas, some of them very close to the surface.

“Soil geochemistry results from Impact’s Shoshong and Ikongwe Prospects within its 100 percent owned Botswana Uranium Project have defined numerous significant uranium in soil anomalies up to 8km long and 2km wide,” says a statement from the company.

“At Shoshong, at least five targets for follow-up work within near surface calcretes have been identified while at [continue reading]