Botswana’s diamond mining giant Debswana Diamond Company says it is targeting to produce at least 20 million carats of diamonds which levels to around 60 percent of its normal production in the year 2010.
Africa
Botswana Government Bond Ratings Changed to Negative from Stable by Moody’s Investor Service
Moody’s Investors Service has changed the outlook on Botswana’s A2 government bond ratings to negative from stable, reflecting the continued strain on the country’s finances imposed by the global economic crisis.
Moody’s notes that Botswana’s economy was hit especially hard at the beginning of the crisis, when worldwide demand for luxury goods such as diamonds literally [...]
Africa
Gareth Penny Appointed Chairman of Debswana Board of Directors
Gareth Penny, Managing Director of the De Beers Group, has been appointed as Chairman of the Board of Directors of Debswana for a two year period. Mr Penny takes over from Mr Eric Molale, the Permanent secretary to the President.
Gareth, who was appointed Director of Sales and Marketing of the Diamond Trading Company (London) in [...]
Africa
Reports: Former Debswana Managing Director, Louis Nchindo, Found Dead
Louis Nchindo, the former Managing Director of Debswana, the Botswana mining venture between De Beers and the Botswana government, has been reported dead, according to South Africa’s Business Report.
Nchindo was due to face criminal charges of over 30 counts this coming April.
Another local paper, The Voice, reports that Interpol officers approached them for Nchindo’s photograph [...]
Africa
Dollar Value of Debswana’s Diamond Sales Expected to Return to 2007-08 Level by 2012-13
The dollar value of Debswana’s diamond sales is expected to gradually return to the level achieved in the financial year 2007/08 by 2012/13, says O.K. Matambo, Botswana’s Minister of Finance and Development Planning, in his 2010 Budget Speech, entitled “Transforming our Economy After the Crisis”, which was delivered to the National Assembly on 8th February [...]
Africa
Statement by Former President Sir Ketumile Masire’s Responds to Allegations About Past Associations with De Beers
The following statement was made by Sir Ketumile Masire, former President of Botwana in regards to allegations over past associations with De Beers:
Recently, a local newspaper has headlined a number of accusations and innuendos with regard to past connections between my otherwise private business affairs and individuals associated with De Beers Company. If these allegations [...]
Africa
Firestone Diamonds CEO Optimistic about Potential for Ssgnificantly Expanding Diamond Operations in Orapa Area of Botswana
Firestone Diamonds plc, the AIM-quoted diamond mining and exploration company (ticker: AIM:FDI), has completed its planned review of historical data from the eight kimberlites in the Orapa kimberlite field in Botswana covered by the joint venture announced with Tawana Resources NL (Tawana) in December 2009. Under the terms of this joint venture Firestone can earn [...]
Africa
De Beers Appoints Neo Moroka, Former Minister of Trade and Industry, as CEO of De Beers Botswana
De Beers has announced the creation of a new position – Resident Director and CEO of De Beers Botswana – and the appointment of Mr Neo Moroka to the role. Mr. Moroka, who was previously CEO of BP in Botswana and Minister of Trade and Industry, will be responsible for De Beers’ commercial interests [...]
Africa
De Beers Appoints Neo Moroka, Former Minister of Trade and Industry as CEO of DE Beers Botswana
De Beers has announced the creation of a new position – Resident Director and CEO of De Beers Botswana – and the appointment of Mr Neo Moroka to the role. Mr. Moroka, who was previously CEO of BP in Botswana and Minister of Trade and Industry, will be responsible for De Beers’ commercial interests [...]
Africa
Diamond Miners Firestone and Tawana Sign Botswana Joint Venture Agreement
Diamond News: Firestone Diamonds plc, the AIM-quoted diamond mining and exploration company (ticker: AIM:FDI), has entered into a joint venture agreement with Tawana Resources NL over Tawana’s kimberlite exploration and evaluation projects in Botswana, which includes 8 kimberlites in the Orapa kimberlite field. Under this agreement Firestone could earn up to an 85% interest [...]
Africa
US$15 Billion Worth of Diamonds (95 Million Carats) May be Mined from Jwaneng in Botswana in Coming 15 Years
Gareth Penny, Managing Director of De Beers, has announced that the shareholders of Debswana (the Government of the Republic of Botswana and De Beers), had given the green light to proceed with a major extension project at Jwaneng, the world’s flagship diamond mine. The project, also known as Cut-8, is a [...]
Africa
Diamond Trust Funded Eco-Tourism Initiative Launched
In May this year, De Beers and Debswana’s Diamond Trust, signed a P10 million agreement with the Letloa Trust for the implementation of the Tsodilo Hills UNESCO World Heritage Site Integrated Management Plan.
The project funding, which covers a period of five years, will support the development and management of about 16 000 hectares of land [...]
