Govt rooting for Phikwe�s survival � PHK

Wednesday, June 25, 2014

SELEBI-PHIKWE: Vice President Ponatshego Kedikilwe says government deliberately increased its shareholding in BCL Mine over the years, so that it could help the then troubled company to clear its debts.

Government presently holds 94 percent equity in BCL Mine, its highest shareholding in any single mining company locally. The shareholding was built through years of debt to equity conversions, which include a P2.3 billion conversion in March 2014 that left BCL Mine debt free for the first time in years.

Launching the Botswana Democratic Party (BDP) candidate for Selebi-Phikwe West, Opelo Makhandlela, over the weekend, Kedikilwe said over the years, government has borrowed millions of Pula internationally from banks in England and South Africa to ensure BCL Mine’s survival.

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