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Orapa, Letlhakane and Damtshaa Mines appoints new General Manager

LETLHAKANE: Mr Alan Breen has been appointed as the new General Manager (GM) of Orapa, Letlhakane and Damtshaa Mines (OLDM), replacing Mr Bakani Motlhabani, who has been acting General Manager for OLGM mines since August 2014 after the departure of Adrian Gale who was GM for four years.    

Mr Alan Breen, a British national started work with the mine last week. He is well known for his role as former Managing Director of Tedi Mining Limited (OTML) in Papua New Guinea (PNG) from 2007 to 2011. Mr Breen, who is a metallurgist, has extensive operational and senior management experience spanning close to 40 years in mines across Australia, Africa and Europe.

He has also previously served as General Manager of Boyne Island aluminum smelter in Gladstone, Queensland, which is owned and operated by mining giant Rio Tinto. As a metallurgist with Anglo American Corporation, he worked in technical support roles as well as production.

Mr. Breen started his career as a junior metallurgist at Anglo America in 1976 in South Africa, he then worked extensively around the African continent until the mid 1980's and later moved to Australia to work in its gold mines.

He has worked in senior management and executive roles with RGC in gold, base metals, aluminum and coal sectors. He served as General Manager of BRM – Xstrata Zinc at Xstrata plc. He held senior and executive management roles with Rio Tinto Aluminum.

He served as a Non-Executive Director of Variscan Mines Limited from October 06, 2011 to June 29, 2015. He served as a Director of Britannia Refined Metals Limited, Brittannia Recycling Limited, MIM Holdings (UK) Ltd. and Ok Tedi Mining Limited.

Mr. Breen is married to Ruth Breen, he holds a Master of Business Administration and a Graduate Certificate in Management from the University of Adelaide in Australia. Besides mining his other interest are in animal welfare, children, poverty eradication, education and economic empowerment for marginalised communities.

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China’s GDP expands 3% in 2022 despite various pressures

2nd February 2023
China’s Gross Domestic Product (GDP) expanded by 3% year-on-year to 121.02 trillion yuan ($17.93 trillion) in 2022 despite being mired in various growth pressures, according to data from the National Bureau Statistics.

The annual growth rate beat a median economist forecast of 2.8% as polled by Reuters. The country’s fourth-quarter GDP growth of 2.9% also surpassed expectations for a 1.8% increase.

In 2022, the Chinese economy encountered more difficulties and challenges than was expected amid a complex domestic and international situation. However, NBS said economic growth stabilized after various measures were taken to shore up growth.

Industrial output rose 3.6% in 2022 over the previous year, while retail sales slightly shrank by 0.2% data show that fixed-asset investment increased 5.1% over 2021, with a 9.1% hike in manufacturing investment but a 10% fall in property investment.

China created 12.06 million new jobs in urban regions throughout the year, surpassing its annual target of 11 million, and officials have stressed the importance of continuing an employment-first policy in 2023.

Meanwhile, China tourism market is a step closer to robust recovery. Tourism operators are in high spirits because the market saw a good chance of a robust recovery during the Spring Festival holiday amid relaxed COVID-19 travel policies.

On January 27, the last day of the seven-day break, the Ministry of Culture and Tourism published an encouraging performance report of the tourism market. It said that domestic destinations and attractions received 308 million visits, up 23.1% year-on-year. The number is roughly 88.6% of that in 2019, they year before the pandemic hit.

According to the report, tourism-related revenue generated during the seven-day period was about 375.8 billion yuan ($55.41 billion), a year-on-year rise of 30%. The revenue was about 73% of that in 2019, the Ministry said.

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Jewellery manufacturing plant to create over 100 jobs

30th January 2023

The state of the art jewellery manufacturing plant that has been set up by international diamond and cutting company, KGK Diamonds Botswana will create over 100 jobs, of which 89 percent will be localized.

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Investors inject capital into Tsodilo Resources Company

25th January 2023

Local diamond and metal exploration company Tsodilo Resources Limited has negotiated a non-brokered private placement of 2,200, 914 units of the company at a price per unit of 0.20 US Dollars, which will provide gross proceeds to the company in the amount of C$440, 188. 20.

According to a statement from the group, proceeds from the private placement will be used for the betterment of the Xaudum iron formation project in Botswana and general corporate purposes.

The statement says every unit of the company will consist of a common share in the capital of the company and one Common Share purchase warrant of the company.

Each warrant will enable a holder to make a single purchase for the period of 24 months at an amount of $0.20. As per regularity requirements, the group indicates that the common shares and warrants will be subject to a four month plus a day hold period from date of closure.

Tsodilo is exempt from the formal valuation and minority shareholder approval requirements. This is for the reason that the fair market value of the private placement, insofar as it involves the director, is not more than 25% of the company’s market capitalization.

Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic diamond and metal deposits at its Bosoto Limited and Gcwihaba Resources projects in Botswana.  The company has a 100% stake in Bosoto which holds the BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana.

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