25 Jun 2017 The Botswana government has up to 13 July 2017 to accept or reject a new and final offer to purchase of the BCL mine by the Emirates Investment House EIH a confidential letter addressed to the government through the minister of Minerals Resources Green Technology and Energy Security Sadique nbsp
Botswana withdrew its decision to buy a 50 stake in South Africa 39 s Nkomati mine from OAO GMK Norilsk Nickel because it can 39 t afford the price tag of just under P3 billion 279 million The kind of situation we are in where 39 s that money going to come from Khaulani Fichani chairman of state owned BCL told reporters nbsp
22 Jan 2016 Motswedi Securities Head Researcher Garry Juma says Botswana mining is in trouble and it 39 s not looking good Juma states that China 39 s economy which is in the red continues to negatively affect commodity prices which is not good for the likes of BCL and other commodity producing companies in the nbsp
25th March 2016 On site and prefabricated accommodation specialist Speedspace has assisted Botswana based copper and nickel smelting company BCL in a collapse in commodity prices Aim listed diamond exploration company Botswana Diamonds BOD executive chairperson John Teeling is still optimistic about nbsp
19 May 2017 The action pertains to the sale of Nornickel 39 s assets to Botswana smelter and mining company BCL Investments Proprietary Limited in a deal which was finalised in 2014 The initial sale value was 337m R4 4bn but was brought down to 271m R3 6bn in 2015 due to the declining nickel prices
20 Oct 2016 The Ministers deliberately misled BCL workers that they will be paid for the next 12 – 18 months when the ministers knew very well that they will not do so Also shocking is that the reasons for the mine closure are coated with lies While the price of copper nickel is reported to be all low corruption and nbsp
28 Apr 2017 intends to commence legal proceedings in Botswana against the Government of Botswana in respect of its involvement relation to the sale of the Tati mine in Botswana The Government of Norilsk Nickel agreed in October 2014 to sell their operations in Africa to BCL for a total price of USD 337 million nbsp
27 Apr 2017 Norilsk agreed to sell operations including its 50 per cent stake in South Africa 39 s Nkomati mine to BCL Group which is owned by Botswana 39 s government for 337m in 2014 later reducing its price to 271m But BCL filed for liquidation in October last year just before the transaction was due to be completed nbsp
BCL mine currently exports raw copper and nickel ore for processing A domestic refinery could potentially add value to Botswana 39 s mining sector Shallow coal seams distributed along the eastern side of the country allow cost effective open pit mining While the western side of the country has deep seams that have Coal nbsp
7 Nov 2016 BCL Mine underground CEO of Botswana Chamber of Mines BCM blames such closures on the shareholders running out of cash and not purely on the low commodity prices as He said there is no reason to believe that the industry is finished and that no investors will be willing to invest in Botswana
29 May 2017 According to Norilsk it even threatens Botswana 39 s reputation as being one of the best mining 39 destinations 39 in Africa The purchase price agreed to by BCL in 2014 was US 337 million the bulk of it for the Nkomati shareholding although this was later renegotiated downwards to approximately US 277 nbsp
10 Oct 2016 BCL Mine can be shut down or reopened whether partly or wholly Experts say that the company 39 s crisis due to a decline in commodity prices is part of a macro decline of the copper industry as a whole in Botswana Its fate will accordingly resemble that of African Copper 39 s Mowana Mine and Discovery nbsp
nickel copper cobalt producers Bamangwato Concessions Ltd BCL Government 35 Anglo American 23 and Tati Nickel Mining Co Pty Ltd Anglo American 43 35 LionOre Mining International Ltd of Canada 41 65 and Government 15 and the soda ash company Botswana Ash Pty Ltd Government nbsp
Russia 39 s Norilsk Nickel has come out swinging in its fight with Botswana Government backed BCL Limited over the failed US 337 million deal to sell half of the Nkomati nickel and chrome mine in South Africa to BCL describing the actions of the Botswana firm as deplorable and unacceptable
Bamangwato Concessions Ltd BCL is the most established Mowana open pit mine Botswana 39 s only pure copper mine ACU also owns the rights to the adjacent Thakadu Makala deposit Both deposits are situated on the highly prospective Matsitama belt initially small scale and relatively low cost operation with nbsp
15 Mar 2017 Botswana exports declined at the end of last year following the closure of BCL Mine on top of reduction in the exports of diamonds Although BCL remains a marginal operating mine with considerable financial sensitivity to nickel and copper pricing the various cost containment productivity and efficiency nbsp
30 May 2016 Four miners were killed and 6 others in critical condition after an accident at Botswana 39 s BCL copper mine on Sunday evening Earlier this year the mine that employs over 6000 people run at a loss due to depreciating prices of copper and nickel in the world market and high operational costs prompting nbsp
Selebi Phikwe also spelt Selibe Phikwe is a mining town located in the Central District of Botswana It had a population of 49 849 in 2001 which is now estimated to have risen to c 52000 The town is an administrative district separate from the surrounding Central District
24 Feb 2017 Since the closure of BCL government as the shareholder has been trying to stay ahead of the debate curve with very little success The recent statement Botswana Government is still struggling to explain the reasons why BCL mine was closed Commodity prices have been depressed for a few years now
16 Jun 2017 Botswana 39 s oldest and biggest copper mine ran into trouble because of low commodity prices diminishing ore grades and the ever deeper shafts needed to extract its resources BCL owed creditors about one billion pula when it was placed under provisional liquidiation Strong interest Dixon Warren said nbsp
the shareholder as the mine was fast spiraling towards a state of bankruptcy The decision according to Government was necessitated by the fact that BCL had become uneconomic to operate mainly due to the decline of copper and nickel prices The Business Botswana BB Council was astounded by the development nbsp
5 Jun 2017 Already we have had one company from the region that has expressed interest to buy part or all of the BCL mine assets Dixon Warren is quoted as saying According to the paper through a memorandum of understanding signed in February Botswana offered BCL to EIH for a token price of 1 with the nbsp
16 May 2017 Reuters – Botswana 39 s government has offered its state owned BCL Mine Ltd to the Emirates Investment House EIH for a token price of 1 in a deal that will result in the Emirati firm taking over the mine 39 s debts minerals minister Sadique Kebonang said Since being placed under provisional liquidation in nbsp
14 Jul 2017 The company has already successfully sold its two Australian mines in 2014 and is now determined to finalise the sale of its African assets which will likely entail legal proceedings against the Botswana government due to its involvement in the reckless trading of BCL says Norilsk Nickel Africa CEO nbsp
16 Feb 2017 Diamonds copper nickel – all have been hard hit by falling world resource prices and for the first time since independence the country historically seen On August 31 last year the state owned BCL – Botswana 39 s biggest copper and nickel mine –collapsed into bankruptcy after enduring three decades of nbsp
8 Oct 2016 GABORONE Reuters Botswana 39 s government will put its largest copper and nickel producer BCL Mine Limited under provisional liquidation due to non profitability Mineral Resources Minister Sadique Kebonang said on Saturday Kebonang said the government could not afford the cost of about 7 6 nbsp
2 May 2017 Copper and nickel producer BCL said in October 2014 that it had agreed with the world 39 s largest nickel producer Norilsk to pay 337m for its 50 stake in Nkomati which it shared with JSE listed African Rainbow Minerals as well as 85 of Tati Mining that Norilsk owned in Botswana The price tag was nbsp
BCL Limited began its operations in August 1956 with a meeting arranged by John Buchunan Chairman of Minerals Separation Limited between Tshekedi Khama Regent of the Bangwato Tribe in the Bechuanaland Protectorate and Sir Ronald Prain Chairman of Roan Selection Trust RST An agreement between the nbsp
Over 50 of the proceeds will be used to fund clean water electricity school medical facilities bridges and roads none of which are currently available in the village of Koryardu where the diamond was found Massive diamond found by Sierra Leone pastor now for sale in Antwerp Cecilia Jamasmie Oct 4 2017 12 28 nbsp
8 Nov 2016 We all knew that BCL just like any other mine have been facing challenges mainly due to the depressed commodity prices on the international market of the mine will send ripple effects not only in the mining town of Selibe Phikwe Francistown and surrounding areas but the whole economy of Botswana
18 Oct 2016 The story of the BCL mine and its unending debts date back to the establismentof the mine through government funding as well as a grant from the that happened metal prices around the world went down a matter that forced BCL to go back to Norilsk to renegotiate the payment of the purchase price
19 Oct 2016 More than six thousand mine workers in Botswana will lose their jobs on 31st October following the move to put state owned mining company BCL and that the government should also have made financial provisions for the normal fluctuations in commodity prices which are expected to recover in 2018
20 Jun 2016 Chairman of the ailing BCL mine Dr Akolang Russia Tombale has jumped ship amidst controversial developments that threaten to paralyse production and bring the miner to its knees Dr Tombale who is the current Chief Executive Officer CEO of another struggling parastatal Botswana Meat nbsp
6 Apr 2016 BAD PATCH BCL Mine in Selibe Phikwe Botswana like other mines is feeling the effects of the global economic slowdown Just like the Damtshaa Mine Mowana owned by African Copper was affected by the lowest copper prices in the past six years which had also forced the suspension of Thakadu nbsp
BCL mine is headed to retrench 2000 employees as a strategy for keeping the mine afloat BCL is reported to be in critical financial dire straits resulting from the ever plummeting copper prices in the international market This has left the BCL mine in heavy in heavy debts The mine Read More nbsp
Lucara has appointed Moolman Mining Botswana as the new mining contractor at its Karowe mine Staff reporter 25 Jan 2017 9 47 New mines despite low prices Roger Murray 25 Oct 2016 12 Four workers were killed and six injured in a mining accident at BCL copper mine in Botswana Staff reporter 31 May 2016 12 nbsp
11 Dec 2016 The mine closure is symbolic of the malaise among Botswana 39 s metal producers that bore the brunt of the commodity price rout The copper and nickel industries have been decimated as a result of the BCL shutdown and the earlier closure of shafts owned by Discovery Metals Ltd African Copper Plc and nbsp
12 Oct 2016 He said BCL had operated at a loss for a while due to plummeting metal prices and high operation costs at the Selebi Phikwe mine quot We have decided to go into compulsory liquidation by the shareholder with the hope that the liquidator will assess option available for BCL Group In terms of how long the nbsp
10 Nov 2017 In 2015 according to a liquidators report and multiple accounts from former workers BCL management blew through funds that had been set aside for the mine 39 s rehabilitation obligations As operational capital dried up from a combination of low metal prices and weak production management tapped into nbsp
20 Jan 2017 According to Warren the current rise in copper prices due to the demand in China will not in any way save BCL mine from an eminent liquidation The provisional liquidator who has 20 years experience liquidating companies in Botswana and is fluent in the vernacular said the process is cumbersome nbsp