BCL secures govt guarantee for bail-out

Addressing residents here on Wednesday, Selebi-Phikwe East legislator, Nonofo Molefhi revealed that government had written to banks asking them to bail out BCL Mine. Declining to reveal the amount the company had asked from government, Molefhi, who is also the Infrastructure, Science and Technology minister, said as the sole shareholder, government was willing to support BCL Mine.

The minister said the guarantees were granted despite BCL Mine owing its shareholder P2 billion.