BCL Mine joint venture kicks off

On Monday, the Australian firm, Botswana Metals Limited, announced that it had secured retention licence extensions to three properties, the main pre-condition to the commencement of the joint venture originally agreed upon in November 2012.

Under the deal, BCL Mine had agreed to spend US$4 million (P35.4m) in a drilling programme, thus earning 40% equity in the venture. BCL Mine would also have the option of raising this to 70% by funding the project through to the completion of a bankable feasibility study.