Gov't Assembles A Team Of Experts To Look Into BCL
Onalenna Kelebeile | Monday October 29, 2018 13:38
The team is expected to commence work this Monday, according to the Minister of Mineral Resources, Green Technology and Energy Security, Eric Molale who toured the mine last Friday.
“I will make sure that the team is constituted before I leave for Mozambique this week,” Molale said. The minister said he needs the team to brief him on a monthly basis and stressed the need for full cooperation by all players. The group would interrogate any decision taken concerning liquidation and advise government to make the process a multi-stakeholder activity. The team would be an extension of the inter-ministerial coordinating team comprising Ministries of Minerals, Trade, Finance, MDCB and Attorney General to coordinate the liquidation activities.
The team, in conjunction with the liquidator, is expected to delineate assets from liabilities and determine the estimated value of the existing resources. After that, they would have a plan to sequence the disposal of such high value assets so that as government finances those activities, he would be working on a plan to target and plan to cost.
“However this is subject to further discussion and advice, then we should be able to determine with some degree of confidence on whether BCL is an asset that can start operating again or otherwise,” he said.
He acknowledged that there has been a lull in the past yet there were so many issues that needed to be dealt with.
“There should be no lull or intransigence from now on we will have to work. I thank the Liquidator Nigel Dixon-Warren for the work done so far on care and maintenance. We want to see more of that to enhance the value of the mine so that final analysis would interest investors who would re-establish the operation to where it was.” This cooperation means that the government would intervene for an amicable solution to avert the looming retrenchment of around 200 members of the care and maintenance team at the end of November. Molale added that he has been instructed to facilitate the liquidation process.
He said his team would ensure that the work that the liquidator does is of national interest and everything would be communicated to Molale as the minister who would then pass it on to government and other parties.
“I came to appreciate what is going on at BCL and the progress made so far with the possibility of reopening the mine. If the mine does not reopen at least something must come up to create employment,” Molale said.“I have been receiving contradicting statements regarding the period of liquidation hence we need to reconcile our position on the time the exercise has to take because I do not believe that it can take seven years. Some things would have to be set aside while those which are paramount would continue. The team would sit to decide, but mindful of the June deadline, then come up with a consolidated position.”
He noted that the team of experts together with the liquidator would determine the length of time the care and maintenance has to take and determine a way forward with a view of saving the town’s economy. He added that the government would continue to fund the environmental rehabilitation aspect with the intention to minimise the harm that could affect people’s livelihoods. “We will continue to ensure that the environmental obligation is taken care of as the main creditor,” he said.