Latest news with #Debswana
Reuters
a day ago
- Business
- Reuters
Botswana's ODC to start contract diamond sales in September
GABORONE, May 30 (Reuters) - Botswana's state-owned Okavango Diamond Company plans to start contracted gem sales in September, managing director Mmetla Masire said on Friday, as it diversifies its sales channels under the government's new marketing deal with De Beers. ODC, whose allocation in the production of Debswana - its 50-50 joint venture with De Beers - was increased to 30% from 25% under the new deal, aims to sell about 40% of its supply through contracts, with the balance sold through auctions, strategic partners and Botswana-based companies. Currently, ODC's sales are predominantly through online auctions, typically held 10 times a year. Like De Beers, which sells about 90% of its diamonds through contracts to handpicked buyers, also called sightholders, ODC will now also sell to contracted buyers. "The previous deal had a clause which prevented us from directly competing with De Beers on contract sales," Masire told Reuters in an interview. The process of selecting buyers has started, with contracts expected to be issued by September, he added. Under the new ten-year deal with De Beers signed in February, ODC's allocation of Debswana output will reach 40% at the end of the agreement, with the possibility of a further increase to 50% during a proposed five-year extension period. The global diamond market is currently going through a downturn marked by declining demand and a supply glut, but Masire said there were signs of "a slow but sustained recovery". "The global market is still fragile, and the U.S. tariffs have added uncertainty, but indications are that demand is improving as China looks like it's starting to pick up and India as well,' Masire said. ODC's 2024 revenues were about 60% of the previous year's levels due to the downturn.
Business Insider
19-05-2025
- Business
- Business Insider
Southern Africa expecting new refinery as Namibia, Botswana deepen energy cooperation
Southern Africa is expecting a new refinery as a result of a joint collaboration between the governments of Namibia and Botswana, as they move to deepen cooperation in the energy sector with the construction of a new refinery. Southern Africa is planning a joint oil refinery project initiated by Namibia and Botswana. The collaboration aims to improve energy security and reduce import dependence. The region's shift toward oil exploration reflects attempts to tap unutilized hydrocarbon reserves. Botswana and Namibia are taking concrete steps toward greater regional energy integration, with discussions underway to establish a jointly-owned oil refinery. The Namibian reports that this initiative, aimed at boosting energy security and reducing reliance on imports, was a key agenda item during Namibian President Netumbo Nandi-Ndaitwah's recent working visit to Gaborone, where she met with her Botswana counterpart, President Duma Boko. If realized, the project could mark a significant shift in Southern Africa's energy landscape, signaling a move toward collaborative infrastructure development and economic self-reliance. According to a statement issued by the office of the Namibian president, ' The two leaders agreed that bridging the gap between the 'haves and the have-nots' and the fight against poverty through job creation required urgent and concrete programmes and projects to be implemented by both countries. ' Namibia, Botswana to reduce dependence on diamonds Botswana and Namibia are key diamond producers in Africa and are actively pursuing strategies to reduce their economic dependence on diamonds, a sector that has historically underpinned their national revenues. This shift is driven by declining global demand for natural diamonds, the rise of lab-grown alternatives, and the inherent risks of relying heavily on a single commodity. ' As diamond-producing countries, Nandi-Ndaitwah and Boko directed that sector officials in both countries needed to work together to maximise revenue and value from diamonds in both countries, ' the statement says. Botswana and Namibia, long reliant on diamond exports, are facing mounting pressure to diversify as global demand declines. In 2024, Botswana's Debswana cut production by 6 million carats, ending the year at 17.9 million, while Namibia's Debmarine plans a 5% reduction in 2025 after a 13% cut the year before. With their economies exposed to market volatility, both nations are now prioritizing diversification and regional collaboration to ensure long-term stability. Oil refining - Next revenue source The joint collaboration between Botswana and Namibia to develop an oil refinery and possibly coordinate oil production efforts could significantly improve the region's energy landscape in several ways. In 2023, Namibia imported $1.52 billion worth of refined petroleum, making it the country's top import and placing Namibia 92nd among global importers. Key suppliers included India ($395M), the UAE ($284M), Saudi Arabia ($206M), Oman ($163M), and Malaysia ($108M), underscoring Namibia's reliance on foreign energy, particularly from Asia and the Middle East. In 2023, Botswana imported $1.08 billion worth of refined petroleum, making it the country's top import and ranking it 105th globally among 226 importers. The majority of these imports came from South Africa ($773M), followed by Namibia ($242M), Mozambique ($59.4M), the UAE ($1.98M), and India ($1.96M), highlighting Botswana's regional reliance on neighboring energy suppliers. Oil drilling in Southern Africa is gradually gaining momentum as several countries in the region seek to tap into untapped hydrocarbon reserves to boost energy security and economic growth. Nations like Namibia, Mozambique, and South Africa have shown increasing interest in exploring and developing oil and gas fields offshore and onshore.
IOL News
02-05-2025
- Business
- IOL News
Women leaders set to redefine Africa's mining sector at African Mining Week 2025
African Mining Week 2025 will spotlight gender inclusivity and the role of women in driving Africa's mining transformation Image: Freepik As the landscape of Africa's mining sector undergoes a profound transformation, women are emerging as crucial decision-makers, driving change and innovation across the continent. African Mining Week (AMW) 2025, set to take place from October 1–3 in Cape Town, will proudly feature a dedicated Women in Leadership Forum, a pivotal gathering aimed at connecting female leaders across the mining value chain with global investors and strategic partners. The forum promises to be a vibrant space for dialogue and collaboration, showcasing the vital role women play in fostering policy reforms, attracting investment, and leading significant enterprises in the mining industry. Among the notable leaders making strides in this arena is Bogolo Kenewendo, Botswana's Minister of Mining. Under her leadership, Botswana is experiencing a surge in structural reforms designed to strengthen investor partnerships, particularly in the diamond sector. In a landmark move, Botswana recently signed a groundbreaking diamond sales agreement with De Beers that will see the nation's stake in the Debswana joint venture increase from 25% to 50% over the next decade. This deal not only underlines Botswana's commitment to enhancing its diamond value chain but also underscores the critical contribution of diamonds to the nation's economy, where the sector accounts for a staggering 80% of exports and 25% of gross domestic product (GDP). In Uganda, a similar wave of change is being driven by Minister of Energy and Mineral Development, Ruth Nankabirwa. She is actively forging strategic partnerships to revitalise the nation's mineral sector. March 2025 marked a historic moment as Uganda signed its first-ever Mineral Production Sharing Agreement aimed at revamping the Kilembe copper mines with Sarrai Group Limited and Nile Fibreboard Limited. Moreover, Uganda is poised to embark on its first commercial rare earth production at the Makuutu Project, a venture developed in association with Ionic Rare Earths, with operations anticipated to commence in 2026. Meanwhile, in Malawi, Minister of Mining, Monica Chang'anamuno, is championing diversification efforts in the country's mineral portfolio while simultaneously enhancing governance within the sector. According to estimates by the World Bank, Malawi stands to benefit significantly, with potential mineral revenues projected to reach $30 billion between 2026 and 2040, driven by developing uranium, graphite, and rare earth projects. In line with this progression, Lotus Resources is targeting initial uranium production at the Kayelekera Mine in Q3 2025, and the country recently established its inaugural Mining Regulatory Authority to streamline approvals and accelerate project development. The growing influence of women extends beyond public office and into the private sector, where female executives are driving the energy industry's evolution. Kelly Ayuk Mealia, Chairperson and Co-founder of Energy Capital & Power, is a leading advocate for investment and project development across the continent. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕
Zawya
30-04-2025
- Business
- Zawya
African Mining Week 2025 to Feature Women in Leadership Forum
As women take on increasingly influential roles in shaping the future of Africa's mining sector, African Mining Week (AMW) 2025 – taking place from October 1–3 in Cape Town – will host a dedicated Women in Leadership Forum. This platform will bring together female leaders from across the mining value chain, connecting them with global investors, strategic partners and emerging project opportunities. Women are playing a pivotal role in transforming the continent's mining industry – championing policy reforms, driving investment, leading major companies,and advancing mineral diversification. Bogolo Kenewendo, Botswana's Minister of Mining, is spearheading structural reforms aimed at strengthening investor partnerships and expanding the country's diamond value chain. In February 2025, Botswana signed a landmark diamond sales agreement with De Beers, doubling its share of rough diamonds from the Debswana joint venture from 25% to 50% over the next decade. The agreement also extended Debswana's mining license by 25 years, reinforcing the continued contribution of diamonds to Botswana's economy, where the sector accounts for 80% of exports and 25% of GDP. In Uganda, Minister of Energy and Mineral Development, Ruth Nankabirwa, is driving strategic partnerships to revitalize the country's mineral sector. In March 2025, Uganda signed its first-ever Mineral Production Sharing Agreement for the redevelopment of the Kilembe copper mines with Sarrai Group Limited and Nile Fibreboard Limited. Uganda is also progressing toward its first commercial rare earth production at the Makuutu Project, developed in partnership with Ionic Rare Earths, with operations expected to begin in 2026. Malawi's Minister of Mining, Monica Chang'anamuno, is leading efforts to diversify the country's mineral portfolio and enhance sector governance. The World Bank estimates that Malawi could earn up to $30 billion in mineral revenues between 2026 and 2040, driven by uranium, graphite and rare earth developments. Lotus Resources is targeting initial uranium production at the Kayelekera Mine in Q3 2025. Additionally, Malawi established its first-ever Mining Regulatory Authority in late 2024 to streamline approvals and accelerate project development. Beyond the public sector, female executives are also steering the energy industry's evolution. Kelly Ayuk Mealia, Chairperson and Co-founder of Energy Capital&Power – the organizer of African Mining Week – is a vocal advocate for investment and project development across the continent. Marie-Chantal Kaninda, President of Glencore DRC, plays a strategic role in maintaining the DRC's global leadership in cobalt and copper. Nolitha Fakude, Chairperson of Anglo American South Africa, is a prominent voice on ESG and diversity, while Nombasa Tsengwa, CEO of Exxaro Resources, leads one of South Africa's top coal producers. Other notable women in leadership include Elizabeth Rogo, CEO of Tsavo Oilfield Services (Kenya); Naomi Biney, CEO of Goldridge Ghana Limited (Ghana); and Nneka Ezeigwe, CEO of Eta Zuma Mining and Industries (Nigeria). The Women in Leadership Forum at AMW 2025 will highlight how women are not only contributing to the industry – but actively redefining it for a more inclusive and sustainable future. African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@ Distributed by APO Group on behalf of Energy Capital&Power.
Time of India
22-04-2025
- Business
- Time of India
Unearth the world's wealthiest diamond mine hidden in an ancient volcano crater in Botswana
Diamonds have fascinated the human imagination for centuries. Apart from being valued for their beauty, they were believed to possess spiritual powers that would bring good fortune and keep bad spirits away. Have you ever wondered where the place behind this fascination of diamonds lies? This place holds the nickname 'Prince of Mines' where the world's richest mine is found. The same constant fascination continues unchecked to this day, with men and women pursuing the biggest, the most uncommon, and costliest gems. Know more about diamonds, its fascination and the place where the richest diamond mine in the world is found. World's wealthiest diamond mine also called 'Prince of Mines' At the heart of this contemporary search is the Jwaneng Diamond Mine in Botswana, the world's wealthiest diamond mine. Nicknamed the "Prince of Mines," Jwaneng rests in an ancient volcanic crater some 170 kilometers southwest of the capital city, Gaborone. It belongs to Debswana, a 50-50 joint venture between the government of Botswana and De Beers, one of the most recognizable names in the diamond industry. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Google Brain Co-Founder Andrew Ng, Recommends: Read These 5 Books And Turn Your Life Around Blinkist: Andrew Ng's Reading List Undo Jwaneng, or "a gem place" in Setswana, is a name that says it all—a name that the operation richly deserves for living up to its name time and time again. Since operations began in 1982, Jwaneng has produced millions of carats of diamonds. Three giant kimberlite pipes, volcanic rock structures known to be diamondiferous, dominate its production. In 2023, Jwaneng mined a record 13.3 million carats of diamonds, solidifying its reputation as the world's richest diamond mine, valued at an estimated £1 billion. Background of Jwaneng Diamond Mine, Botswana The background of Jwaneng dates from the 1970s when geologists at De Beers discovered the kimberlite-bearing zone. The initial geological discovery soon turned out to be a world-class mining venture. There have been various developments to the mine over the years in order to make it more productive and lengthen the years it has to operate. One of such significant developments is the Cut-9 project, which is a £1.5 billion project to add more years to the life of the mine to a minimum of 2035. The project is expected to produce an extra 53 million carats of diamonds. In January 2024, a project to extend the underground was officially sanctioned. The expensive but visionary plan would not only increase diamond production but also generate approximately £20 billion of profit in the next decades. Other than this, the plan will create thousands of jobs that will enhance the economic resilience both at the national and local community level. Jwaneng is vital to the economy of the nation, contributing 60 to 70 percent of Debswana's overall revenue. Its prosperity reconfirms Botswana as one of the dominant players in the international diamond market. Jwaneng: Technological powerhouse in diamond mining The mineral extraction in Jwaneng is technologically sophisticated and extremely efficient. Bulk drilling begins the process to grind rock that travels to the plant by massive vehicles. In the plant, the sophisticated equipment includes X-ray fluorescence and laser sorters—which are housed in advanced units called CARP (Completely Automated Recovery Plant) and FISH (Fully Integrated Sort House)—and they precisely pinpoint diamonds from ore. In spite of its mammoth size, Jwaneng has also started to undertake environmentally friendly mining. Like all big mines, it struggles with dealing with waste rock and ecological footprint. It was, however, the first mine operation to be ISO 14001 certified in Botswana in 2000 as a reward for its initiatives towards environmentally friendly practices. Also Read | This broken flower pot from a UK garden turns out to be a $66,000 masterpiece
