Though Dixon-Warren indicated that TNMC might not start operations soon, as earlier anticipated, he said negotiations with a potential investor would soon take shape .
“We have signed an exclusivity agreement with an international company that is interested in buying both BCL and TNMC. We however, maintain that we will be prioritising TNMC during negotiations (of the sale) of the mines. This is because the mine is still under provisional liquidation and conditions of its sale are more relaxed than at BCL,” Dixon-Warren said yesterday. The exclusivity agreement gives the current prospective buyer some protection from other interested buyers for any of the BCL assets during the negotiations, Dixon-Warren added. According to him, the exclusivity deal was signed last week Friday. He added: “The company interested in buying the mine will have to do a physical tour of BCL and TNMC premises. It will then carry out a due diligence study before deciding to buy or not. All these processes will most likely be completed early next year. That is why I do not believe the mine will open anytime soon”.
