Botswana's economy is expected to expand by 4.5 percent this year.
Botswana Mining News
Botswana's Minergy Limited said on Wednesday it has started construction at its Masama Coal Mine, which is set to be the country's first privately-owned coal mine, following government approval.
Miner will include Sarine’s mapping and planning technologies into its sales platform, which applies algorithms to match rough diamond production with polished manufacturing demand on a stone by stone basis.
The 10 rough, larger-than-100-carats diamonds produced at Letšeng led the hike.
BCL mine group, which has been under liquidation since 2016, is selling its 51 percent stake in Maibwe Diamonds for an undisclosed amount.
Sparsely-populated Botswana is the world's top diamond producer by value.
Area is close to the Venetia mine, operated by De Beers, which delivers around 40% of South Africa’s annual diamond production.
The mine has probable reserves of 5 million tons at a grade of 31 carats per 100 tons and inferred resources of 10.3 million tons at 31 carats per 100 tons.
With the discovery, the miner has already exceeded the total number of diamonds of over 100 carats recovered in 2017.
The two companies will exchange past exploration information on areas prospective for diamonds in Zimbabwe and form a jointly-owned special purpose vehicle to develop and exploit diamond resources.
The Lerala Mine was opened in 2008 and had to be shut twice due to weak sales, until it was placed under judicial management last year.
The rock weighed 327 carats and it is a top white gem diamond.
The company's revenue jumped a whopping 174% in the first quarter of the year thanks to strong demand for its rough rocks and the sale of a 910-carat diamond, the fifth-largest ever found.
Project is located about 100 km south of Jwaneng, the world’s richest diamond mine.
The company raised prices a similar amount in its previous sale at the end of February.
Recovered from the Karowe Diamond Mine located in Botswana.
When it was placed under liquidation, Tati had incurred a cumulative loss of 1.6 billion pula ($165 million) and owed creditors one billion pula.
Debswana, the joint venture between De Beers and the Botswana’s government, is seeking permission to deepen the Jwaneng mine to 830 meters.
Copper producer Cradle Arc is increasing output to 12,000 tonnes per year at a Botswana mine it has restarted.
Together with naming new top execs. the Canadian miner is acquiring Clara Diamond Solutions, which uses blockchain technology to trace diamonds as they move through the supply chain.
Proceeds from the placing will fund ongoing diamond exploration in South Africa and Botswana, and will also provide the company with additional working capital, the company said.
The 102.34-carat white diamond is thought to be worth considerably more than previous auction records for similar pieces.
Diamonds recovered during sampling at the project were not sufficient to produce a modelled diamond valuation, said the company.
Company posted a 4 percent jump in sales to $567 million in 2017, the highest annual sales since its formation in 2013.
Chief executive Bruce Cleaver said the changes were necessary to sustain De Beers' success as a business.