World diamond prices start to recover – Debswana
GABORONE – World demand for diamonds has improved “significantly” since the start of the year and prices began to recover a few weeks ago, producer Debswana said on Wednesday.
However, MD Blackie Marole said Debswana, a joint venture between the world’s top diamond producer De Beers and the Botswana government, would only produce 20-million carats of diamonds this year compared with normal annual output of around 33-million. Read more
Talon Metals Acquires Potash Exploration Projects in Brazil
Talon Metals Corp., (”Talon” or the “Company”) (TSX: TLO) today announces that it has concluded an agreement with Kmine Holdings Ltd. (”Kmine”), a private company, to acquire a 100% interest in Bancor Mineracao Ltda. (”Bancor”), a Brazilian
subsidiary of Kmine. Bancor has eight potash project areas in the Sergipe and Alagoas States of Brazil comprising a total of 36,402 hectares (89,951 acres) for which it holds exploration licenses for potash or has applied for exploration licenses.
Separately, Talon was recently awarded the exploration rights to the Juruena Gold Project in Mato Grosso State, Brazil from the Departamento Nacional de Produção Mineral (”DNPM”). Read more
Metallic Ventures Gold Inc. announces new Board of Directors
Metallic Ventures Gold Inc. today announced that Jeffrey R. Ward (and certain related parties), a significant shareholder of the Company, owning or exercising control or direction over approximately 47.8% of MVG’s common shares, has voted to elect a new slate of directors at the annual meeting of MVG shareholders held on May 13, 2009. The new board has been given a mandate to maximize value for all MVG shareholders. The new Board of Directors is comprised of the following four directors: Jeffrey R. Ward, Linda E. Misetich, Wesley J. Hall and Alexander J.R. Grieve. In the view of Mr. Ward, the new board is well positioned to take MVG forward, drawing on the experience of the directors and management. The new board will also ensure that MVG’s future is pursued in the interests of all shareholders.
MVG’s management including Miles Bachman, the current president and chief financial officer, will remain with the Company, with Mr. Bachman remaining as president and assuming the role of chief executive officer. Read more
African Copper Shares Go Up As Rivals Fight – Botswana
Shares of copper mining and exploration firm, African Copper are in a bullish mood after two investment rivals started what looks like a protracted slugfest to rescue the company and snap up a majority stake in it.
On Monday, shares of African Copper on the Botswana Stock Exchange (BSE) pushed from 22 thebe to end the day at 30 thebe.
The company traded 161,718 shares. This comes after Natasa Mining recently put up a $15 million offer to rescue African Copper with Zambia Copper Investments (ZCI) countering with $22.5 million. Read more
Strategic Analysis of the Botswana Electricity Industry
ew analysis from Frost & Sullivan, Strategic Analysis of the Botswana Electricity Industry, finds that the industry earned revenues of $121.0 million in 2007 and estimates this to reach $170.0 million in 2015. This growth will be due to a sharp increase in the demand for electricity, in the mining sector driven mainly by significant developments
If you are interested in a virtual brochure, which provides a brief synopsis of the research and a table of contents, then send an e-mail to Patrick Cairns, Corporate Communications, at patrick.cairns@frost.com, with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country. Upon receipt of the above information, a brief brochure will be sent to you by e-mail. Read more
Diamond industry hit hard by financial crisis
The global economic downturn is having a huge impact on the diamond industry. Mining giant Botswana says its diamond sales dropped about 17 percent in 2008 compared to the previous year, the Associated Press reports.
The AP says a meeting of international diamond producers and dealers was called off last week in neighboring Angola because of the effect of the financial crisis on the industry.
Kenya’s Daily Nation, reporting from Gaborone, Botswana’s capital, says analysts expects up to a 22 percent drop in diamond retail sales in the United States this year. Mining accounts for 39 percent of Botswana’s GDP.
