BCL dodges bullet in SA

Dixon-Warren is still fighting the Norlisk deal
Dixon-Warren is still fighting the Norlisk deal

"Nkomati Nickel, the South African mine which BCL Mine was only recently released from an obligation to take up 50% equity in, suffered a P900 million impairment for the six months ended December 2018. Until Christmas Day last year, Russian giant, Norilsk Nickel was still pursuing the enforcement of a 2014 deal under which BCL had agreed to purchase Norilsk’s 50% stake in Nkomati, among others."

At Christmas, Norilsk suddenly dropped its demands, saying it was terminating the contract and would rather focus on pursuing damages under arbitration. The Court of Appeal recently cleared the way for arbitration to begin in London.

This week, African Rainbow Minerals, which owns the other 50% in Nkomati, said the Mpumalanga mine’s struggles had continued in the six months to December 2018.

Editor's Comment
Human rights are sacred

It highlights the need to protect rights such as access to clean water, education, healthcare and freedom of expression.President Duma Boko, rightly honours past interventions from securing a dignified burial for Gaoberekwe Pitseng in the CKGR to promoting linguistic inclusion. Yet, they also expose a critical truth, that a nation cannot sustainably protect its people through ad hoc acts of compassion alone.It is time for both government and the...

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