Tati Nickel set to relaunch as Tataki
Mbongeni Mguni | Tuesday September 16, 2025 06:00
Austrian investor, Cevdet Caner, and his investment firm, NIU Invest SE, have pledged to invest $200 million (P2.7bn) over a 10-year period to bring Phoenix Mine at Tataki back to profitable operations, creating more than 3,000 direct and indirect jobs.
President Duma Boko as well as Minerals and Energy minister, Bogolo Kenewendo, are scheduled to witness the relaunch, which comes at a time when minerals such as nickel, copper, cobalt, and platinum group metals, are critically in demand globally.
Meanwhile, Caner has announced the formation of Global Critical Resources Corporation (GCR Group), a U.S. registered company to operate Tataki Mine and Minera Tres Valles (MTV), a copper mine in Chile.
In a statement, Caner said GCR Group is focused on meeting the world's rapidly growing demand for the resources essential to advanced technologies, electric vehicles, and renewable energy.
GCR Group CEO, Richard Bunning, said the new company boasts a team of seasoned professionals who bring decades of experience to the mining of critical minerals, leveraging knowledge of political risk, complex transactions, operations, and advanced technology to seek out investment opportunities and create value.
'Together with our partners and stakeholders, GCR Group delivers integrated mining solutions that combine cutting-edge methods with a commitment to responsible production,' he said. 'Instead of building from scratch, we revitalise high-potential assets, turning them into efficient, future-ready operations.'
GCR Chief Operating Officer, Lukasz Abramowicz, said after reopening, Tataki Mine will produce a variety of metals and hydroxide salts that are widely traded internationally. Products will include nickel and cobalt hydroxide precipitates, copper cathodes, metal bars for platinoids (platinum, palladium, rhodium), and precious metals.
“We plan to invest further capital into Tataki to develop and expand mining operations,' he said. 'Tataki will be a key engine for Botswana's economic growth in the coming years, contributing a 1.5 percent increase in annual GDP to the country.'
NIU snapped up Phoenix last year for $15 million (P200 million), after an extended period of the liquidators and government looking for takeover partners for the operation. Phoenix’s sister operation, Selkirk, was purchased by Premium Nickel Resources Limited for P67 million two years ago.
Tati Nickel Mine, which operated Phoenix and Selkirk, was placed in liquidation in 2016 at the time of the global base metals meltdown.
NIU officials previously told Monitor Business that the investment plan for Tataki includes $50m over the initial 18 months of ownership to ramp up to steady-state production levels, with the remainder to be sustaining capital expenditure post-2026.
“Tati is a unique asset,” Caner told MonitorBusiness in a previous statement. “We are building a dynamic company that will grow in tandem with Francistown and the entire region. “We will remain dedicated to local development through initiatives in education, infrastructure, and healthcare, whilst maintaining focus on safety, environmental compliance, and stakeholder engagement. “We are seeking to quickly establish a stable and growing operation that will be a long- term partner with communities in and surrounding Francistown, as well as with the citizens and government of Botswana.”
GCR Group, meanwhile, will continue to expand its portfolio by acquiring and investing in mining assets across the globally, with a focus on copper, cobalt, and other critical minerals.