Tuesday, May 30, 2017

Commercial agreements are confidential in nature

Botswana defends his right not to disclose details of large transactions diamond development, saying that "no country does not sign transparent agreements."
Reuters quoted the World Bank consultant Handler Nils (Nils Handler), who noted that the government's decision to keep secret the negotiation process with regard to contracts for diamond mining and the development of large integrated projects is a cause for concern.
He said that more open process, including published contracts, Botswana will become more transparent country with jurisdiction accountable.
However, Minister of Minerals and Water Resources of Botswana Sadiq Kebonang (Sadique Kebonang) challenged the World Bank's view, saying that commercial agreements are confidential in nature because of the sensitivity of the information they carry.
"The negotiating team includes representatives of various ministries, semi-public and private sectors, public and private lawyers and experts in the field of mining, - quotes its word newspaper Mmegi -. The very participation of the parties in the negotiation process makes the process transparent."
He also said: "Even the World Bank, when gives us loans, keeps some of the details of the loan agreement a secret."
Kebonang noted that the details of large transactions for the extraction will be made public after the agreement to be concluded.
Botswana, according to Reuters The, gets 89% of its foreign currency earnings and 30% of national income from mining operations, mainly diamonds.
The country comprises numerous large-scale contracts for production, sale and marketing of diamonds to De Beers, a division of Anglo American.
De Beers and the Botswana jointly owned by Debswana and DTC Botswana companies. Botswana also owns a 15% stake in De Beers.

1 comment:

Pearl Necklace said...


Botswana Diamonds reported that Sunland Minerals, its joint venture with ALROSA, received six new exploration licenses in Botswana.
In a statement e-mailed Rough & Polished, states that licenses were issued on a three-year period ending March 30, 2020.
Four of them are in the Central Kalahari Game Reserve (CKGR), and occupy an area of 3135 sq. km, while the other two sites are located within the province Orapa kimberlite (Orapa), occupying 482 sq. km.
The area is located near the CKGR project PIMU (Gope), as well as areas Maibwe, a joint venture with the Botswana Diamonds.
It was also chosen Orapa area, north-east of the Letlhakane mine (Letlhakane) Debswana, because there are some kimberlite anomalies.
"I am very pleased that we have received license for this promising area in Botswana", - said the executive director of the Botswana Diamonds Dzhon Tiling (John Teeling).
"This will allow us to work with Alrosa, to introduce advanced exploration technologies in areas that were previously not considered in this way," - he added.
In Botswana Diamonds said that in the Orapa kimberlite province, there are 85 kimberlites, of which 8 are current or former diamond mines were active diamond mines.
Meanwhile, the company said recently in Botswana arrived group of geologists and mineralogists ALROSA to start exploration program in 2017.
The team, she said, will focus on sampling and geophysical studies on the four licenses, PL 260 and PL 135 Orapa, 235 and 234 in PIMU area.