Nearby Location News
Anglo in Botswana coal sale 2016-06-14Cutifani shows he's as good as his word as sales programme whizzes ahead
Anglo's unit De Beers sells 50% stake in Botswana coal mine 2016-06-13De Beers will sell its 50% stake in Botswana's sole coal mine to the government as part of a plan by the diamond producer's parent company Anglo American to whittle down its commodities portfolio. The CEO of Minerals Development Company of Botswana (MDCB) Paul Smith said on Friday that the diamond producer's stake will be transferred to the newly formed MDCB, but declined to reveal the price of the stake.
African Energy Resources edges closer to development of Botswana power project 2016-03-04
Cashed up African Energy Resources (ASX:AFR) has signed a term sheet with an as yet unnamed South African investment group to develop an integrated coal mine and thermal power station at its Mmamabula West power project in Botswana.
The group has a three month exclusive period to negotiate the terms of binding documentation for a joint development agreement for mine‐mouth power generation.
Mmamabula West provides an opportunity for near term power generation with its 2.47 billion tonnes of resources in two main coal seams.
Meanwhile First Quantum Minerals increased their interest in the Sese Integrated Power Project in Botswana to 53%, having spent A$1.3 million beyond the initial A$8 million investment on the Sese Project to date.
First Quantum can invest up to $20 million in the Sese JV. African Energy's 25% share of additional funding will be loaned to it by First Quantum and carried to commercial production.
In December African Energy executed a binding share sale deal under which the company’s wholly owned subsidiary, Botswana Energy Solutions Ltd will sell the Mmamantswe Coal and Power project to TM Consulting for US$20 million, subject to certain conditions being met.
African Energy had cash reserves of $6.6 million in December 2015 and had been undertaking daily share buy- backs to tighten the share register and enhance capital gain prospects for the company.
African Energy is participating in the development of three large-scale power projects in Botswana, placing it in an enviable position to become a regional power force.
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GEM Diamonds downsizes Ghaghoo mine in Botswana's Kalahari to protect balance sheet and preserve dividend strategy. http://www.miningmx.com/page/news/diamonds/1656788-GEM-slows-Ghaghoo-to-protect-bala 2016-02-03
GEM Diamonds downsizes Ghaghoo mine in Botswana's Kalahari to protect balance sheet and preserve dividend strategy. http://www.miningmx.com/page/news/diamonds/1656788-GEM-slows-Ghaghoo-to-protect-balance-sheet#.VrG3AlL-P5c …
Gem Diamonds ups cash, stops Ghaghoo cash bleed 2016-02-03Diamond-mining company Gem Diamonds ended the year with net cash of $55.3-million and an on-track dividend outlook. The London-listed Africa-focused company owns 70% of the Letšeng diamond mine in Lesotho, which is continuing to generate cash in the current testing market conditions, and 100% of the Ghaghoo, where cash outflow is being staunched.
General 2015-05-10Historically the area was partially explored by Shell Coal Botswana during the 1970s and more recently by the licensee company, Jaquar Ventures (Pty) Ltd, who completed thirteen diamond drill holes during the period 2009 2010. Based on the results of Runge Limiteds Independent geological report as reported in Hodges ASX press release on the 7th June 2011, a coal exploration target of around 1.4 to 1.6 Billion Tonnes could be defined in the 140km2 area; of which an estimated 660 Million Tonnes indicates suitability for open cast mining. Coal quality intersected in previous drilling at the project is variable, but raw qualities are interpreted as suitable for domestic thermal markets and indicative of the areas coalfields. There is evidence within completed laboratory test work that some of the coal could be upgraded to export quality coal.