Diamond rich Botswana expects mineral revenues in the 2019/20 fiscal year to drop by 4 percent to 13.6 billion pula ($1.26 billion) due to a decline in royalties and dividends, a minerals ministry budget document showed on Thursday.
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GABORONE – Botswana’s president on Friday dismissed a report that the country had offered Zimbabwe a $600 million diamond-backed loan and said his government had only offered to guarantee a $100 million private credit line for Botswana companies to invest in their troubled neighbour.
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Botswana has offered to lend Zimbabwe $600 million to support its diamond industry and local private firms, a state-owned newspaper reported on Tuesday, amid a severe dollar crunch in the southern African nation.
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Botswana’s first privately owned coal mine will produce its first saleable coal in March, the chief executive of the company overseeing the project told Reuters. The Masama Coal Mine aims to produce 1.2 million tonnes per annum of coal and will target the South African market as well as other countries in the region, Minergy Chief Executive Andre Boje said. “We should ramp up to the nameplate volume of 300,000 tonnes per month by June/July…
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Tlou Energy has recommenced production pod drilling on its Lesedi CBM project in Botswana and specialist directional drilling crew and other key personnel are now on site.
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GABORONE – Mowana Mine, Botswana’s only operating copper mine, has suspended operations due to working capital constraints which has seen the company fail to pay salaries and suppliers, it said on Tuesday.
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Tlou Energy, the ASX, AIM and BSE listed company focused on developing gas-to-power projects in southern Africa using coal bed methane (‘CBM’) natural gas from its field in Botswana, has provided an update on drilling operations at the Lesedi CBM project.
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Kibo Mining (AIM:KIBO) has received a commitment for £500,000 (US$657,366) in funding via a placement that will be used to expedite feasibility studies at its projects.
Read MoreTlou Energy has announced that a recently purchased core drilling rig has arrived onsite at the Lesedi CBM project in Botswana. The rig has low hours and will be ideal for obtaining coal and gas data in regions of sparse geological information, noting that the Company holds 100% of licences covering over 8,000 Km2.
Read MoreBotswana has scrapped talks to sell a power station plagued by technical problems to a state-owned Chinese company linked to the plant’s builder, an official document seen by Reuters showed.
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