Mmegi

Austrian investor plans P2.8bn to resurrect Tati

Friday, May 02, 2025 | 1160 Views |

Rising from ashes: Tati Nickel’s Phoenix is set to
resurrect after closing down in 2003 PIC: MORERI SEJAKGOMO

European investment group, NIU Invest, led by Austrian mogul, Cevdet Caner, says it will invest $200 million (P2.8bn) over a 10-year period to bring Phoenix Mine back to profitable operations, creating more than 3,000 direct and indirect jobs.

NIU snapped up Phoenix last year for $15 million (P205 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.

Phoenix was put on care and maintenance in 2003, whilst Tati Nickel — which owned and operated the two mines — has been in liquidated since 2016.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

ECONOMY

GABORONE 29 April 2017, Lydia Casey Jele during the Gaborone international athletics meet at the National stadium in Gaborone on 29 April 2017. (Pic:MONIRUL BHUIYAN/PRESS PHOTO)

Jele slapped with eight-year ban

Calistus Kolantsho | 11 h ago

Cyclists brace for Mokolodi Scorpion race

Mqondisi Dube | 13 h ago

Gov't to combat Chinese shops' cash-only policy

Larona Makhaiza | 16 h ago

Accused serial rapist defies court order

Larona Makhaiza | 18 h ago

Rollers players on strike ahead of derby

Mqondisi Dube | 18 h ago

Shaka Zulu: Interesting Facts about Shaka

Staff Writer | 1d ago

Budget crisis: The stress of not worrying

Mbongeni Mguni | 16 May 2025

Maun researchers scoop P1.4m for scent-based predator control project

Mbongeni Mguni | 16 May 2025

Gov't must empower DCEC urgently

As the new Umbrella for Democratic Change (UDC) government takes charge, it must act decisively to equip the Directorate on Corruption and Economic Crime (DCEC) with the tools, laws, and resources needed to combat graft. The time for half-measures is over. DCEC Director-General, Botlhale Makgekgenene’s, recent address to the Public Accounts Committee paints a stark picture. Over five years, leadership instability, chronic underfunding and weak...

The Monitor Editor | 20 May 2025

About us

Mmegi is the leading independent source of breaking news, latest news, current
affairs, Politics, Business, Sport, debates, analysis, and entertainment news in Botswana.

Explore

More