Three Investors Show Interest On BCL
Onalenna Kelebeile | Monday November 7, 2016 17:07
Minister of Mineral Resources Green Technology and Energy Security Advocate Sadique Kebonang has confirmed to The Monitor that three potential investors are already in talks with the liquidator directly to discuss the prospects of re-opening the mine. “I cannot say whether they will buy out the whole operation or otherwise because they deal directly with the liquidator and they will at what is available before making an offer,” he said.
Minister Kebonang was not at liberty to disclose the names of potential investors as he said they (potential investors are guaranteed utmost confidentiality. “Even the liquidator would only know them after the vetting process has been concluded,” he said.
The Minister gave an assurance that the former mine employees will be paid their terminal benefits, leave days and notice this month though not at the same time. He said money is already available.
“It is a process because terminal benefits are calculated according to how much is owed to the people and their individual period of engagement with the company.
The challenge is also that there is no management so the liquidator is the one handling the whole process all the employees of BCL and Tati Nickel Mines,” he said.
BCL Mine was placed under provisional liquidation early October and employees contracts were terminated at the end of the month. They left before their dues were paid.