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Mineral production declines in Q2

The Index of Mining Production (IMP) in the second quarter of 2014 stood at stood at 106.6 showing a negative year on year growth of 4.5 percent, the latest release by Statistics Botswana has revealed.

The Indices of the Physical Volume of Mining Production second quarter 2014 report showed that main contributors to the decline in growth of mining production came from Copper-Nickel-Cobalt matte, which declined by 3.0 percentage points followed by Diamonds, which declined by 1.3 percentage points and Gold, with a decline of 0.3 percentage points.

 Soda Ash and Coal brought some resilience to the overall mining production fall, increasing by 0.2 and 0.1 percentage points respectively during the second quarter of 2014.

Amidst this negative growth, it can be observed that the index of the physical volume of mining production grew by10.8 percent from 96.2 in the first quarter of 2014 to 106.6 in the second quarter of the same year.

“Despite the major plant maintenance carried out together with the impact of the clean-up of the Jwaneng Mine slope in 2013, Diamond production declined by 1.5 percent between the second quarter of 2014 and the same quarter in the previous year, 2013,” the report noted.

Copper-Nickel-Cobalt matte production declined by 34.7 percent between the second quarter of 2014 and the same quarter of the previous year. The report has attributed the decline to the disruptions in production due to the inefficiency of the smelter waste boiler tube.

Also, copper in concentrates production declined for the second time since its inception in 2010, decreasing 0.7 percent between the second quarter of 2014 and the same quarter of 2013, after increasing by more than fourfold between the second quarter of 2013 and the same quarter in 2012.

“The decrease in 2014 is attributed to ineffectiveness of the crushers which subsequently broke down, and the lower than expected copper recoveries from the ore” stated the report.

Meanwhile Gold production fell by 24.6 between the second quarter of 2014 and the same quarter of the previous year. This follows a decline of 17.8 percent between the same quarters of 2013 and 2012. The changes recorded between second quarter of 2014 and that of 2013 was attributable to ore shortages and lower than expected Gold recoveries from the ore.

Soda Ash production recorded an increase of 29.8 percent during the same period. This follows four consecutive declines as shown in. The substantial increase in production is mainly attributed to the effectiveness of the plant following its maintenance.

Salt production decreased by 13.7 percent between the second quarter of 2014 and that of the previous year, as compared to an increase of 49.3 percent registered between the second quarter of 2013 and the similar quarter of 2012. The decrease in salt production is said to be mainly due to the planned plant maintenance conducted at the mine which resulted in production stoppages during the course of the second quarter.

Silver production recorded yet another decline since its inception in 2013, falling 25.1 percent between the second quarter of 2014 and that of the previous year. The decline was largely due to crusher breakdown.

Nonetheless coal production recorded a growth of 66.1 percent between second quarters of 2014 and 2013. This follows three consecutive declines. The growth is credited to the increased demand for coal following optimal usage of the Morupule B Power generators during the second quarter of 2014.

The report is the second to be published by Statistics Botswana and is a product of Industry Statistics Section. This report uses 2013 as a reference year. Data used in this publication is sourced from the Department of Mines at Ministry of Minerals, Energy and Water Resources.

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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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