BCL loses P33 per pound of nickel mined

Friday, April 01, 2016

BCL is experiencing serious cashflow problems

The minister of Minerals, Energy and Water Resources, Kitso Mokaila told parliament this week the current depressed international nickel prices are below the cost of mining, leading BCL to lose as much as $3 (P33) per every pound of nickel it mines.

He said the state-owned copper miner, which is struggling to ensure business continuity under the current climate, is failing to meet the operating costs of the current nickel prices.

According to Mokaila, it currently costs BCL about $7 to mine a pound of nickel while international prices are at $4 per poud.

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BCL loses P33 per pound of nickel mined

The minister of Minerals, Energy and Water Resources, Kitso Mokaila told parliament this week the current depressed international nickel prices are below the cost of mining, leading BCL to lose as much as $3 (P33) per every pound of nickel it mines.