Connect with us

Diamonds exports surge power trade surplus

An increase on month- on -month total diamond exports powered the country’s trade balance to a surplus of P1, 332.5 million in January 2015.

Statistics Botswana data released this week pegged  total imports at P4, 437.9 million, showing an increase of 0.4 percent that is P16.1 million from the December 2014 value of P4, 421.8 million while total exports were valued at P5, 770.4 million, an increase of 4.2 percent that is P232.1 million from the December 2014 value of P5, 538.3 million.

The data shows total exports were valued at P5, 770.4 million, with 84.2 percent (P4, 860.4 million) attributed to exports of Diamonds. The values include Diamonds exported from the aggregation process. Consequently these are not diamonds produced by Botswana only.

The digest stated that Diamonds contributed the highest to total imports with 19.3 percent (P885.2 million), followed by Fuel with 16.4 percent (P728.7 million). Machinery & Electrical Equipment and Food, Beverages & Tobacco each contributed 13.5 percent to total imports during the month, with P601.1 million and P600.7 million respectively.

Copper Nickel contributed 7.2 percent (P418.3 million) while Machinery & Electrical Equipment; and Vehicles & Transport Equipment contributed 2.1 percent (P120.1 million) and 1.5 percent (P84.2 million) respectively. Machinery & Electrical Equipment consists mainly of re-export of goods that were initially imported.

According to Statistics Botswana Imports for January 2015 were valued at P4, 437.9 million, with 75.5 percent (P3, 350.0 million) coming from South Africa and 1.0 percent (P42.8 million) from Namibia.

For the period under review imports from Asia were valued at P323.0 million, representing 7.3 percent of total imports. China and Israel contributed 1.9 percent (P82.4 million) and 1.4 percent (P64.2 million) respectively, to total imports recorded during January 2015.

The European Union (EU) supplied imports valued at P306.0 million, representing 6.9 percent of total imports during January 2015. Belgium and Germany contributed 3.6 percent (P160.1 million) and 1.6 percent (P70.6 million) respectively, to total imports during the same period.

Imports from Canada, the United States of America (USA) and Switzerland were valued at P208.0 million, P101.2 million and P72.6 million in January 2015, representing 4.7 percent, 2.3 percent and 1.6 percent respectively of total imports during the month.

Total exports for January 2015 were valued at P5, 770.4 million, with 35.5 percent (P2, 048.5 million) destined to Asia. Statistics Botswana figures indicate that Singapore received most of the exports destined to Asia at the value of P745.0 million, representing 12.9 percent of total exports. While India, Israel and Hong Kong followed with contributions of 10.7 percent (P617.3 million), 4.5 percent (P257.8 million) and 3.4 percent (P195.4 million) respectively, of total exports during the month under review.

Exports destined to the EU were valued at P1, 075.4 million, representing 18.6 percent of total exports during the period under review. Belgium received most exports destined to EU, having received 16.6 percent (P956.3 million) of total exports during January 2015. This was followed by Finland with 1.5 percent (P89.1 million) of total exports during the same month.

South Africa and Namibia received 16.6 percent (P960.6 million) and 12.3 percent (P708.5 million) respectively, of total exports during the month under review.

Exports to Canada were valued at P393.0 million, representing 6.8 percent of total exports (P5, 770.4 million) during January 2015. Norway, Switzerland and the United States of America (USA) received 3.7 percent (P215.8 million), 3.3 percent (P188.6 million) and 1.0 percent (P55.6 million) respectively, of total exports during the same month.

Continue Reading


Matsheka seeks raise bond program ceiling to P30 billion

14th September 2020
Dr Matsheka

This week Minister of Finance & Economic Development, Dr Thapelo Matsheka approached parliament seeking lawmakers approval of Government’s intention to increase bond program ceiling from the current P15 Billion to P30 billion.

“I stand to request this honorable house to authorize increase in bond issuance program from the current P15 billion to P30 billion,” Dr Matsheka said. He explained that due to the halt in economic growth occasioned by COVID-19 pandemic government had to revisit options for funding the national budget, particularly for the second half of the National Development Plan (NDP) 11.

This content is locked

Login To Unlock The Content!

Continue Reading


Lucara sits clutching onto its gigantic stones with bear claws in a dark pit

14th September 2020
Lesedi La Rona

Botswana Stock Exchange (BSE) has this week revealed a gloomy picture of diamond mining newcomer, Lucara, with its stock devaluated and its entire business affected by the COVID-19 pandemic.

A BSE survey for a period between 1st January to 31st August 2020 — recording the second half of the year, the third quarter of the year and five months of coronavirus in Botswana — shows that the Domestic Company Index (DCI) depreciated by 5.9 percent.

This content is locked

Login To Unlock The Content!

Continue Reading


Botswana Diamonds issues 50 000 000 shares to raise capital

14th September 2020

Botswana Diamond PLC, a diamond exploration company trading on both London Stock Exchange Alternative Investment Market (AIM) and Botswana Stock Exchange (BSE) on Monday unlocked value from its shares to raise capital for its ongoing exploration works in Botswana and South Africa.

A statement from the company this week reveals that the placing was with existing and new investors to raise £300,000 via the issue of 50,000,000 new ordinary shares at a placing price of 0.6p per Placing Share.

Each Placing Share, according to Botswana Diamond Executives has one warrant attached with the right to subscribe for one new ordinary share at 0.6p per new ordinary share for a period of two years from, 7th September 2020, being the date of the Placing Warrants issue.

In a statement Chairman of Botswana Diamonds, John Teeling explained that the funds raised will be used to fund ongoing exploration activities during the current year in Botswana and South Africa, and to provide additional working capital for the Company.

The company is currently drilling kimberlite M8 on the Marsfontein licence in South Africa and has generated further kimberlite targets which will be drilled on the adjacent Thorny River concession.

In Botswana, the funds will be focused on commercializing the KX36 project following the recent acquisition of Sekaka Diamonds from Petra Diamonds. This will include finalizing a work programme to upgrade the grades and diamond value of the kimberlite pipe as well as investigating innovative mining options.

Drilling is planned for the adjacent Sunland Minerals property and following further assessment of the comprehensive Sekaka database more drilling targets are likely. “This is a very active and exciting time for Botswana Diamonds. We are drilling the very promising M8 kimberlite at Marsfontein and further drilling is likely on targets identified on the adjacent Thorny River ground,” he said.

The company Board Chair further noted, “We have a number of active projects. The recently acquired KX36 diamond resource in the Kalahari offers great potential. While awaiting final approvals from the Botswana authorities some of the funds raised will be used to detail the works we will do to refine grade, size distribution and value per carat.”

In addition BOD said the Placing Shares will rank pari passu with the Company’s existing ordinary shares. Application will be made for the Placing Shares to be admitted to trading on AIM and it is expected that such admission will become effective on or around 23 September 2020.

Last month Botswana Diamond announced that it has entered into agreement with global miner Petra Diamonds to acquire the latter’s exploration assets in Botswana. Key to these assets, housed under Sekaka Diamonds, 100 % subsidiary of Petra is the KX36 Diamond discovery, a high grade ore Kimberlite pipe located in the CKGR, considered Botswana’s next diamond glory after the magnificent Orapa and prolific Jwaneng Mines.

The acquisition entailed two adjacent Prospecting Licences and a diamond processing plant. Sekaka has been Petra’s exploration vehicle in Botswana for year and holds three Prospecting Licenses in the Central Kalahari Game Reserve (Kalahari) PL169/2019, PL058/2007 and PL224/2007, which includes the high grade KX36 kimberlite pipe.

Continue Reading
Do NOT follow this link or you will be banned from the site!