Boseto Mine bid reaches competition watchdog

The Competition Authority (CA) is now examining a proposed bid by Barclays Capital-backed Cupric Canyon to buy the mothballed Boseto Mine near Maun. The mine, which closed earlier this year leaving over 800 people jobless, is currently facing liquidation over unpaid debts with a creditors’ meeting slated for next week expected to decide the fate of the operation.

In a statement, the CA said it has received a merger notification for the proposed acquisition and was thus inviting stakeholders’ submission on the bid.

Australian mining company, Discovery Metals is the owner of the Boseto Mine.

Editor's Comment
Happy Independence!

We are 56 years old and what do we have to show for it? Looking at where Botswana started and where it is today, there are a lot of developments, but whether the developments match the number of years we have enjoyed as a country is a topic for another day.The fact that cannot be denied is we have seen major developments, but we are still lacking in several pertinent areas.Our beautiful country imports almost everything. We import fuel, food,...

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