- Posted May 28, 2014 by
Diamonds, from Pits to Depths
Several international mining corporations have established regional headquarters in Botswana and are looking for diamonds, uranium, gold and oil. Many have come back with positive results. Galane Gold Ltd announced that it has kicked off its first ore exploration from Tau underground in the northern part of the country.
Galane Gold or GG is a Toronto-based investment firm, an unhedged gold producer and explorer acting in mining operation and exploration in the Republic of Botswana. It is a publically traded company which is listed on both the TSX Venture Exchange and the Botswana Stock Exchange. Galane Gold has already had several extensive exhibitions in the management of mining and exploring programs.
“This gold exploration is an expected evolution in order to improve the company’s performance,” GG said. The firm contributes with senior professional employees, who are committed to respect the environment and the communities in which they work.
At the beginning, GG didn’t have the intention to pursue the resource of gold in Tau through underground mining. It started the project in the fourth quarter of 2013 and has finished its forced portal entry at the bottom of the existing Tau pit and the installation of the entire infrastructure required for the exploration. The company has put a graphical presentation of the detailed mining plan on the reported resource to mine about 85,000 ounces of gold over the next three years.
Ravi Sood, the Chief executive officer of Galane Gold, stated, “This project is a major step in the evolution of the company both with regards to a change from open pit mining to underground mining and our plans to extend mine life through further exploration.” He then added, “We have completed this project within six months and from our own operating cash-flows is a testament to the experienced management team that we have put in place."
Botswana is ranked as the best investment jurisdiction in Africa, according to World Bank Global Investment Benchmarking Report. According to the Fraser Institute Global survey of Mining Companies best African mining jurisdiction and the seventh best mining country globally. It also has a strong economic environment. In fact, Botswana is regarded as the best mining country in Africa. It has political stability and strong GDP growth. Its status as an English speaking country is why Multinational firms such as Galane Gold can operate on its ground. The Australian firm, Gallery Gold, however, has also its entire exploration of Gold in the country. The company’s most prospect exploration was the Mupane Gold Mine which officially opened in February 2005, will produce approximately 100,000 ounces of gold per year. Apart from that, Botswana is an emerging mining powerhouse. It remains the greatest diamond exporter in the world but its mineral resources are still quite underexploited.