BCL kisses P50m goodbye as Pula Steel sinks

Thursday, July 06, 2017

BCLu2019s provisional liquidator, Nigel Dixon-Warren

BCL Mine has all but kissed goodbye an amount of about P50 million it invested as equity in a subsidiary, Pula Steel, adding to the woes of creditors looking to squeeze their funds from the fallen copper and nickel mine.

Under an ambitious diversification strategy called Polaris II, BCL Mine invested billions in various projects, including Pula Steel, an iron and steel plant located in Selebi-Phikwe.

Pula Steel however experienced various challenges eventually retrenching all employees and going into judicial management in March, at a time when BCL Mine held 67% equity.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

Taking notes: BNSC affiliates during an Annual General Meeting PIC: KENNEDY RAMOKONE

BNSC powerless as fights escalate

Calistus Kolantsho | 19 h ago

Sportspersons flock to politics

Staff Writer | 19 h ago

Tlou wary of another near-miss

Kabelo Boranabi | 19 h ago

Softball team denied World Cup chance

Calistus Kolantsho | 19 h ago

Mabote seeks answers after squad omission

Calistus Kolantsho | 19 h ago

The recent disclosure by the IEC that 2,513 registrations have been turned down due to various irregularities should prompt all Batswana to meticulously review the voters' rolls and address concerns about rejected registrations.The disparities flagged by the IEC are troubling and emphasise the significance of rigorous voter registration processes.Out of the rejected registrations, 29 individuals were disqualified due to non-existent Omang...

The Monitor Editor | 23 April 2024

About us

Mmegi is the leading independent source of breaking news, latest news, current
affairs, Politics, Business, Sport, debates, analysis, and entertainment news in Botswana.

Explore

More

BCL kisses P50m goodbye as Pula Steel sinks

BCL Mine has all but kissed goodbye an amount of about P50 million it invested as equity in a subsidiary, Pula Steel, adding to the woes of creditors looking to squeeze their funds from the fallen copper and nickel mine.

BNSC powerless as fights escalate

Sportspersons flock to politics

Attention turns to relegation

Tlou wary of another near-miss

Softball team denied World Cup chance

Mabote seeks answers after squad omission

World Relays trip divides BAA

The plight of a rookie

Inspect the voters' roll!