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The Patriot on Sunday

The Patriot on Sunday

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The Patriot on Sunday

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The Patriot on Sunday
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The Patriot on Sunday

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#businessfrontpagethisweek HEADLINE: Digital Shift BW disruption BTC LEADS DIGITAL PENETRATION FOR A DETAILED REPORT GRAB A COPY OF THE PATRIOT ON SUNDAY NEWSPAPER IN STORES OR FOR SUBSCRIPTION VISIT: www.thepatriot.co.bw ... See MoreSee Less

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The Patriot on Sunday

11 hours ago

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#opinionsreviewandanalysis BOTSWANA VIOLATES SADC PROTOCOL ON VOTER REGISTRATION *ADAM PHETLHE ON SUNDAY FOR A DETAILED REPORT GRAB A COPY OF THE PATRIOT ON SUNDAY NEWSPAPER IN STORES OR FOR SUBSCRIPTION VISIT: www.thepatriot.co.bw ... See MoreSee Less

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The Patriot on Sunday

1 day ago

The Patriot on Sunday
SEROWE KGOTLA MEETING FAILDuring a short briefing of media today in Serowe, the Bangwato royal uncles said they took a decision to postpone Serowe Kgotla meeting which was supposed to be held today (Saturday) after consultation with their lawyer.They said they are now taking the legal route to challenge being denied permission to convene meeting at the main Kgotla.A new date is due to be announced soon. Despite postponement, Police took no chance and barricaded the kgotla. ... See MoreSee Less

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The Patriot on Sunday

1 day ago

The Patriot on Sunday
UDC/IEC case requires urgent political interventionThey say desperate times call for desparate measures. Botswana’s desparate electoral situation requires political intervention to end the raging legal tug of war between the UDC & the IEC. It appears the legal festival currently raging in the High Court will not end anytime soon if yesterday's spectacle at the F'town High Court is anything to go by resulting in grave uncertainty as to when the voter registration exercise will commence & whether other phases of the electoral processes will properly fall into place.Political intervention from govt will prevail upon the IEC to withdraw from the case & allow the UDC to observe & monitor voter registration for transparency & fairness. This far, it hasn't come out clearly what harm if any, will UDC’s observation of the voter registration exercise cause. It would have been fulfilling to watch the end product of the legal festival at the High Court & the Court of Appeal. But like they say again, time is of the essence. Much as time for the electoral process to set in motion voter registration has been negatively impacted, no more time should be afforded to be wasted. If the elections date was still far away, I would have no qualms with the festival going on until the very end for obvious reasons.The sad reality is that the elections date is around the corner & voter registration is yet to commence.Govt has a choice to make in the circumstances: Avoid Constitutional crisis in so far as elections are concerned for such will have other legal & political implications for Botswana’s democratic credentials OR, perpetuate it. ... See MoreSee Less

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Mining in deep contraction

patriot by patriot
April 15, 2021
in Business
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Dr Mguni and Rowley

Dr Mguni and Rowley

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No positive signs of sector recovery yet

Mining output drops by 27% in 2020 Q4

Diamond production fell hugely by 28%

BAKANG TIRO

editors@thepatriot.co.bw

Key data released by Statistics Botswana (SB) suggests a record economic contraction in the local mining sector with mining production having declined by 27.1% in the fourth quarter of 2020.

Statistician General Dr Burton Mguni said the index of mining production stood at 64.0 during the fourth quarter of 2020, showing a negative year-on-year growth of 27.1% from 87.8% in Q4 2019.

The quarter-on-quarter analysis also indicates a significant decline of 11.7 % from the index of 72.5 during the third quarter of 2020 to 64.0.

According to Statistics Botswana, the immense contraction in mining sector growth was mainly attributable to the production of diamonds, which contributed negative 23.7 percentage point.

“Soda Ash and Salt (each contributing 0.1 of a percentage point) contributed positively to the change in the mining production. However, their contributions were insignificant to offset the negative contribution made by diamonds. The annualised total Index of Mining Production has been decreasing at an average rate of 3.8 percent during the last 10 years,” Statistics Botswana said.

The total Index of Mining Production shrank by 28.1 %in 2020, the biggest annual decline noted since 2009. To that end, the decrease reflected the sharp declines in mining production registered during the course of the year as a result of Covid-19 pandemic movement controls that took effect in the country.

Economist Dr Mosimane Rammika said the key contributing sectors to the Gross Domestic Product (GDP) being mining and tourism have been subdued since the outbreak of Covid-19 pandemic locally.

He said deep contraction in the key mining sector put the already strained economy under pressure.

Rammika said the country’s economy was in a technical hard recession as it had experienced two successive quarters of negative growth since Covid-19 outbreak, on a quarter-on-quarter basis.

Diamond production waned by 28% during the fourth quarter of 2020 compared to 2019 fourth quarter.

“Similarly, quarter-on-quarter analysis shows that production registered a decline of 12.7%during the fourth quarter of 2020 compared to the preceding quarter. The decrease was as a result of planned strategy to align production with weaker trading conditions linked to Covid-19 protocols,” added SB.

Gold production on the other hand increased by 4.1 % during the fourth quarter of 2020 as compared to previous year, with rise as a result of higher than expected gold recoveries from the ore.

Both Soda Ash and Salt production increased by 12.2% and 13.4% respectively during Q4 2020.

The quarter-on-quarter analysis shows that Soda Ash production increased by 95.5% during the period under review, with the significant increase attributable to the effectiveness of the plant following a refurbishment which occurred in the third quarter of 2020.

“Coal production decreased by 6.1 percent during the fourth quarter of 2020 compared to the corresponding quarter of 2019. Similarly, the quarter-on-quarter comparison shows that coal production decreased by 21.0 percent compared to the preceding quarter. The decrease can be attributed to the low demand of the product,” said Statistics Botswana on mineral output.

Meanwhile, the global diamond mining company De Beers Group says it expects recovery in 2021.

Executive Vice president Diamond Trading at De Beers, Paul Rowley recently said the company expects to produce between 32 and 35 million carats in the year boasted by good market outlook.

The Group in 2020 produced 25.1 million carats, representing an 18% decrease from the 30.8 million carats recorded in 2019 with decline attributed to weaker diamond demand amid Covid-19.

“2020 was unprecedented year for the diamond industry globally and we also suffered from the effects of Covid-19. Containment measures such as the lockdowns impacted negatively on our business operations. There has been significant challenges for rough diamond industry,” he said.

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