2014 Sucessful Year for Debswana

| November 30, 2014 | 0 Comments

Debswana managing director, Balisi Bonyongo, says the year 2014 has been highly successful with Debswana making a steep change in performance across all facets in business.

He said Debswana revenue went 26 per cent up by the end of September 2014, which indicateda good year. Speaking at the Debswana stakeholder engagement session in Gaborone on November 29, he said 2014 was the first year under horizon one, which involved optimising profitability of existing open pits in Jwaneng and Orapa.

Mr Bonyongo stated that success did not come easily as employees worked tirelessly to provide shareholders with value and further preserved the national asset being diamonds. The Debswana managing director said to continue to deliver value to the shareholders they must exploit their resources in a manner that optimised business in the long term.

Mr Bonyongo stated that exploiting resources involves preparations for open pit extensions and expansions which means major works hence Debswana needs planning to deliver this. He said open pits were about a kilometre down hence the need for geological expertise and extensive studies in drilling.

Mr Bonyongo said mines are surrounded by hazards which needed proper planning to ensure zero harm adding that as Debswana they ensure that whoever enters their gates leaves unharmed. “Our safety is exceptional and comparable to the best in the world,” he added.

He said, “The world is unsteady as it is ruled by volatility, uncertainty, complexity and ambiguity which threaten economies. Nevertheless he stated that Debswana must preserve its position in the industry and carry out responsibilities enthroned on them by shareholders and stakeholders.

He said the forecast supply and demand fundamentals for the industry were favourable for Debswana.

“Debswana still remains competitive with assets to meet scales and there is no other mine of larger scale in Botswana involved in the production at the same scale as us and hence it would take that mine 10 years to be where we are,” he said.

Source : BOPA

Source : Botswana Daily News

Category: Business & Finance

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