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
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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