Anglo to start new projects in Botswana

PATRICIA MAGANU
Staff Writer | Thursday June 10, 2010 00:00

 

Anglo was among a consortium of investors styled B Shareholders that had a 50-percent stake in Botash. The consortium also included AECI, First Rand Bank and De Beers Botswana.

Speaking at the handover to new shareholders Chlor Alkali Holdings in Sow Town last Friday, the Chairman of the group, Harry Calver, said Anglo was still very much in Botswana and was even coming up with new projects. Calver said it was better for the group to give up its stake in Botash because it did not consider the Botash operation to be part of its core operating activities.

For that reason, it was in the best interests of Botswana and the group's shareholders to maintain (only) minority shareholdings in Botash.

'Anglo American is not out of Botswana just because we gave up the Botswana Ash shares,' Calver said. 'We are still very much in this country as our deal with De Beers Botswana is still on-going and we are still working on new projects that we want to start.'

The Media Relations Manager of Anglo American South Africa, Pranill Ramchander, said the company's presence in Botswana was currently through Debswana Diamond Company. 'A landmark agreement between De Beers and the Botswana Government of 50/50 in May 2006 saw the long-time partners embarking on a watershed initiative currently enhancing the economic profile of Botswana,' Ramchander said. Anglo American has a 45-percent stake in De Beers.

Ramchander said by virtue of the status of Debswana mines, Anglo was still contributing significantly to the economy of Botswana and emphasised that Jwaneng was the world's richest diamond mine while the Orapa pipe was the world's second largest diamond-producing kimberlite.Both Calver and Ramchander said Anglo's commitment to Botswana could also be seen in the company's current auctioning of prospecting licenses for Coal Bed Methane exploration it recently received.