Mbongeni Mguni

2 weeks ago | news.bloombergtax.com | Mbongeni Mguni

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2 weeks ago | bloomberg.com | Mbongeni Mguni

A Debswana diamond mine in Botswana. (Bloomberg) -- Debswana, the diamond mining joint venture between De Beers and Botswana’s government, said it has halted some production at its biggest mine as it looks to save money amid a downturn in demand. Debswana is attempting to cut costs as it adapts to the lower diamond production laid out by De Beers earlier this year, which continues to target a range of 20 million to 23 million carats in 2025.

2 weeks ago | mmegi.bw | Mbongeni Mguni

A thirst for truth and accountability The revelation that a P1.5 billion promise of clean water was made with no budget to deliver it, is utterly unacceptable. This wasn't just an administrative error. The timing – ahead of the 2024 General Election – screams of a desperate attempt by the former Botswana Democratic Party government to buy votes with empty promises.They dangled the carrot in the form of promising the lifeline of water before communities enduring "days of dry...

2 weeks ago | mmegi.bw | Mbongeni Mguni

Debswana and the Botswana Power Corporation (BPC) signed a Memorandum of Agreement last week that will allow the diamond giant to access and demonstrate its use of renewable energy. Debswana intends to reach carbon neutrality at its operations by 2030 and the adoption of renewable energy forms a major component of this effort. The diamond group presently consumes 410MW of electricity and is engaged in various efforts to convert this to renewable sources.

3 weeks ago | mmegi.bw | Mbongeni Mguni

One of Minergy Coal’s creditors has taken the coal mine to the High Court, demanding it be placed in judicial management for the recovery of debt. Whilst details on the identity of the creditor were not available at press time, industry insiders indicate the difficulties may have to do with the current or former mining contractor. The funds paid to the mining contractor constitute the highest operating costs for mines such as Minergy’s Masama Coal Mine.