As much as nine companies had initially expressed interest to buy the mine that was put under liquidation last November. A senior official from PriceWaterhouseCoopers (PWC) whose organisation is tasked with carrying out the liquidation of the mine confirmed this week in an interview.
“We have received six bids for the mine and we will begin a process to assess them soon. I cannot disclose the name of bidders at the moment due to a confidentiality clause we have with them (bidders),” said PWC managing director, Butler Phiri. He said the six bidders are from Botswana and abroad. Phiri added that three bidders decided to withdraw their proposals at the 11th hour. Phiri also declined to reveal how much the bids are worth citing a confidentiality clause. “The sale of the mine is expected to be completed before the end of August,” Phiri explained. PWC recently carried out a due diligence process with potential bidders of the mine. The process ended on June 30 paving way for potential buyers to submit formal bids. During the due diligence process the potential bidders assessed the extent of ore reserves, quality of the plant among others in order to inform their purchase bids. Eight mining companies attended the due diligence process and were said to be content with the status of Mowana.
