Tag Archives: Diamonds
Botswana: Positive prospects for the diamond sector could lead to somewhat higher rates of GDP growth in 2017-19
IMF Staff Concludes 2017 Article IV Visit to Botswana
- Positive prospects for the diamond sector could lead to somewhat higher rates of GDP growth in 2017-19. Fiscal projections envisage moderate deficits this year and the next, with surpluses thereafter.
- Tax revenue reforms need to be accelerated to protect public finances against any adverse developments and maintain the country’s track record of sound fiscal management.
- The inflation rate remained low, close to the lower band of the Bank of Botswana’s inflation objective range of 3–6 percent.
A team from the International Monetary Fund (IMF) led by Enrique Gelbard visited Gaborone from May 1-16 for discussions on the 2017 Article IV Consultation with Botswana. The discussions covered recent developments and prospects and focused on policies to support continued economic stability and promote inclusive growth. At the end of the visit, Mr. Gelbard issued the following statement:
About the Tsabong North Project
The Tsabong North Project, located approximately 100 km north of the town of Tsabong in south-western Botswana, is 1,545 km2 in size. It is comprised of anomalous concentrations of kimberlite indicators and has large geo-botanical features. Pangolin has already identified more than 50 drill-ready aeromagnetic targets in the Project area, several of which have surface areas exceeding 20 hectares. Exploration activities in the area are guided in part by the recommendations of a National Instrument 43-101 Technical Report prepared for the Project.
Pangolin Diamonds Corp. is building a leading diamond exploration and development company in the heart of Botswana, the world’s leading diamond producing country by value. The Company is the 100% owner of 11 Prospecting Licenses covering 5,307 km2, including the Tsabong North, Jwaneng South, Malatswae and Mmadinare Projects.
Pangolin Diamonds Corp. updates shareholders on 2013 kimberlite diamond exploration activities in Botswana
About diamond mining in Botswana
Botswana is the largest diamond producing country in the world by value, supplying 21% of global rough diamond production. It is the location of the world’s two largest diamond mines, Jwaneng and Orapa, and four non-De Beers diamond mines – Gem, Firestone, Lucara and Mantle. Diamonds were first discovered in Botswana in 1959 and the first kimberlites were discovered in 1967. Since then, over 275 kimberlites have been discovered in the country. With a long and well-established Mining Code, Botswana is rated by the Fraser Institute as the best country in Africa for mining. The country has the highest sovereign credit rating in Africa. Since gaining independence in 1966, Botswana has been governed by the Botswana Democratic Party in a multi-party democracy.
Increasing population, rising household income and changing lifestyle in Asia Pacific and Middle Eastern region to drive global jewellery market revenues in the next decade.
Vancouver, Canada –(PR.com)– According to recently published report “Global Gems and Jewellery Market Forecast & Opportunities, 2018”, in 2012, United States generated maximum revenues in the global jewellery market. The country is also the largest consumer for diamonds globally.
However, regionally Asia Pacific holds the largest jewellery market in the world with more than half of the share being contributed by India and China alone. India and China are also the two largest gold consumers in the world followed by the Middle Eastern region. Other countries in Asia pacific such as Thailand and Vietnam are also large consumers of gold and the driving the regional growth of the market.
After narrowly winning a race against time to get extended refugee status, passports and visas, brothers Harun and Ali Mohammed are flying from Cape Town to Hollywood today for Sunday’s Academy Awards, where their film Asad will compete in the Best Short Film category.
* DOLV To Access an Exclusive Licence to Cut Timber and Export