BK11 mine disposal nears completion

Firestone's BK11
Firestone's BK11

Mining and exploration company, Firestone Diamonds says it anticipates finalising the disposal of BK11 Mine in Orapa to Canadian company, Tango Mining in early 2016.

In 2014, Firestone commenced a disposal process for all its assets in Botswana including the BK11 mine for a total cash consideration of $8 million (P83.9 million).

Early this month, Tango formally requested an extension of time regarding the second tranche of the deposit that was payable in September of $0.3 million (P3.1 million).

Editor's Comment
Tana project a welcome development

Whilst the project received mixed reactions from members of the public, the project is indeed a welcome development, which needs to be implemented as soon as possible. Many shared their opinion, with those against the project decrying that if implemented, it will kill the already struggling public transport industry.Many countries around the world have state-run public transport, and those who have travelled to such countries will give testimony...

Have a Story? Send Us a tip
arrow up