Karowe Mine to generate P1.4bn in 2014
Wednesday, January 15, 2014
In its 2014 operating outlook, the Botswana Stock Exchange (BSE) listed company said it is upgrading and building a plant at Karowe to improve large diamond recovery following continued occurrence of exceptional stones and to enable sustainable processing of harder ore in the south lobe. Construction is scheduled to begin soon and finish later this year at a projected cost of between $45-$50 million. A sustaining capital expenditure of $3.5 million is expected.
William Lamb, president and chief executive officer, said in 2014, it is expected that the scheduled plant upgrade, largely funded from the company’s 2013 year end cash balance will be completed and brought online to deliver sustainable diamond recovery for production of 2.5 million tonnes per annum for the remainder of the mine life. “This upgrade will also include processes to ensure the safe recovery of the value driving large and exceptional diamonds of Karowe,” he said. Lamb added that the company is focused on building on its strong financial position through operational optimisation and focused cost management.
Figures released by the country’s electoral management body have shown that a total of 1, 037, 684 people have registered to vote.However, eligible voters could be discouraged by events leading to the voting day like poor execution of advance voting amid talks that the elections could be unfair.There have also been threats by certain opposition politicians that shall the elections not be free and fair, they will halt them.Despite these...