Extra care needed on BCL deal :: Mmegi Online

The closure of BCL Mine late last year has shaken the local economy and left almost 5,000 people jobless amid high unemployment in the country. Families were left with uncertain futures, while financial institutions also felt the heat.

The latest we hear is that Emirates Investment House (EIH) has shown interest in acquiring the Mine after weeks of due diligence. The BCL Mine has pending outstanding payments of close to P3 billion and other liabilities that it should settle. Even at stake is the future of Selebi-Phikwe town, which is on the brink of becoming a ghost town.

What is more worrying is that the thousands of former miners, and their families would soon run out of patience and turning the town into a hell-on-earth where hopelessness rules the streets in the form of drug abuse, prostitution, street gangs and spiralling crime statistics.

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