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Austrian investor plans P2.8bn to resurrect Tati

Friday, May 02, 2025 | 1760 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.

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Austrian investor plans P2.8bn to resurrect Tati

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.

Human rights are sacred

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First Lady's office hosts second annual thanks giving ceremony

PSLE performance on upward trend

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Cops arrest young man, seize dagga in Metsimotlhabe

Second Mogoditshane rape attack in two weeks

Suspected suicide behind Sir Seretse Khama Barracks

Human rights are sacred