BCL liquidation to take years

Tsaone Basimanebotlhe | Wednesday February 14, 2018 15:41

 

According to the Minister of Mineral Resources, Green Technology and Energy Security, Sadique Kebonang,  this is something that is common for estates of the size and complexity of the BCL Mine.

Kebonang said the liquidator has developed a strategy designed to enhance value and reduce obligations so as to make the resources remaining at BCL attractive to potential investors.

The minister was responding a question from MP for Gantsi North, Noah Salakae who wanted to know the time the liquidation process will take to be complete. 

He also wanted to know whether annual financial audits were carried out at BCL before its closure as required by law, and if so whether the financial reports are available for public consumption.

“The financial statements for the year ended 31 December 2015 had not been concluded prior to the liquidation.  The annual financial statements of BCL were subject to external audit each year, with the last year for which audited financial statements were signed was for the year ended 31 December 2014,” Kebonang said.