Disposal of BK11 Mine hits snag

Tshekedi Khama
Tshekedi Khama

The disposal of BK11 Mine in Orapa by Firestone Diamonds to Canadian company, Tango Mining has hit a snag after the buyer failed to pay the agreed deposit.

It emerged this week that Tango Mining Limited has told Firestone Diamonds that it was unable to pay $0.3 million (P3 million) into an escrow account as a deposit for the company’s assets.

The deposit was the fulfillment of the first part of the conditional sales agreement between the two companies announced in July.

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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