Mysterious twist in BCL, Norilsk P2.7bn battle

The October 2014 deal involved BCL purchasing Norilsk’s assets which included a 50% stake in Mpumalanga mine, Nkomati Nickel, as well as Tati Nickel Mine near Francistown. Payment was due to be made once several regulatory conditions were concluded, the last of which was the transfer of Nkomati mining rights to BCL, by South African mining authorities.

BCL closed down before the deal was finalised and the parties have locked horns in Johannesburg and Gaborone courts over payment of the deal. An attempt by the Russians to move the battle to London, was rejected earlier this year by the Gaborone High Court.