Botswana delivers first iron-ore exports to China
Botswana's first iron-ore mine, Ikongwe, has started production and delivered its maiden exports to China, a company official told Reuters on Tuesday, as the Southern African country makes headway in efforts to diversify its economy away from diamonds.
Although diamond mining's contribution to GDP has declined over the years and was less than 20% last year, Botswana is still heavily reliant on the precious stones, with diamonds accounting for more than 70% of foreign currency revenues.
The first exports from the Ikongwe mine, owned by Vision Ridge Investments, a unit of India's Yashomann Industries, reached China in September.
"We have an order of 50 000 t a month from a state-owned steel manufacturing company there," Vision Ridge director Chetan Patil said.
Vision Ridge aims for Ikongwe to produce one million tonnes of iron-ore per year over an initial 10-year lifespan, with a grade of up to 65%.
The exports currently go via South Africa, in containerised shipments, but Vision Ridge is in talks with Botswana Railways to organise bulk shipments through Mozambique's port of Maputo, Patil said.
"This should help us to ramp up production and exports," he said.
Prices for iron-ore, which is the main ingredient in steel production, have soared over the past year to reach record highs of $240/t in May driven by strong demand from China which produces most of the world's steel.
China has been seeking new sources of iron-ore amid a trade war with its top supplier Australia.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
