Norilsk Nickel ready for BCL in London

Friday, May 31, 2019

Russian base metals giant, Norilsk Nickel says it has already engaged its counsel to proceed with talks at the London Court of International Arbitration in an effort to secure damages from BCL Mine.

Since BCL’s closure in October 2016, Norilsk Nickel has fought for $271 million it claims the Selebi-Phikwe miner owes under a 2014 deal involving the purchase of Tati Nickel and Nkomati, a nickel mine in Mpumalanga, South Africa.

Early last year, government had offered to settle with the Russians for P522 million, but BCL’s liquidator scuppered the deal arguing that the validity of the 2014 contract was as yet unproven.

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Norilsk Nickel ready for BCL in London

Russian base metals giant, Norilsk Nickel says it has already engaged its counsel to proceed with talks at the London Court of International Arbitration in an effort to secure damages from BCL Mine.