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/ 30 March 2008

Botswana CEO Mogae to exit the boardroom

Festus Mogae is to stand down as Botswana’s president on Tuesday after a decade in which his country cemented its status as one of Africa’s success stories despite fears it could be wiped out by HIV/Aids. Mogae, who hands over the reins of power to his long-time heir apparent Ian Khama, styled himself as the ”chief executive” of a nation of about two million.

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/ 8 February 2008

De Beers diamond sales dip, sees stronger 2008

De Beers, the world’s top diamond producer, posted a dip in 2007 diamond sales on Friday, but forecast a rebound this year amid a tight market that was expected to keep prices buoyant. ”We are in an environment where the rough diamond market is strong,” managing director Gareth Penny told a conference call.

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/ 27 January 2008

Power crisis halts SA mines for a second day

A power shortage halted production in South Africa’s lucrative mining sector for a second day on Saturday, and mining company officials said they still did not know when they could resume operations. Power cuts described by President Thabo Mbeki’s government as a national emergency on Friday stopped production in the world’s biggest platinum and number one two gold producer.

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/ 27 November 2007

Union gets go-ahead for mine-safety strike

South Africa’s National Union of Mineworkers (NUM) said on Tuesday it had been given the go-ahead by authorities to stage a one-day nationwide strike on December 4 to highlight the issue of safety at mines. ”Yes, we are going on strike on December 4, we have been given the go-ahead,” NUM spokesperson Lesiba Seshoka said.

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/ 8 October 2007

De Beers sees 14,7-milllion carats in 2007

South Africa’s unit of the world’s top diamond producer De Beers said on Monday it expects to produce 14,7-million carats in 2007, and saw a decline in output of 2-million carats in 2008. ”Very soon we will level at 12-million carats into the future,” said David Noko, managing director of De Beers Consolidated Mines.

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/ 13 September 2007

De Beers sells underground Kimberley operations

The world’s biggest diamond mining group, De Beers, has agreed to sell its loss-making Kimberley underground mines to Petra Diamonds and its black partners, De Beers said on Thursday. De Beers said in a statement details of the transaction, including the financial settlement and output figures for the underground mine, would be given at a media briefing on Friday.

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/ 13 September 2007

Mbeki: Crime a symptom of ‘rapacious individualism’

The prevalence of corruption and other forms of crime in South Africa reflected a society that had embraced a culture of individualism, President Thabo Mbeki said on Wednesday. Delivering the eighth annual Steve Biko memorial lecture at the University of Cape Town, Mbeki said social ills such as corruption represented society’s rejection of positive moral values.