EC Hails Mines For Using Funds Well

Speaking during the EU member states' visit to Selebi-Phikwe to inspect the economic diversification of the mining sector project, Malin said they have given the two mines about 85 million sterling pounds in the last 18 years.  He added that EU provided funds to government to give BCL much-needed cash-flow at subsidised rates at different times when the mine was threatened with closure that would leave thousands jobless.

"The mine life has now been extended and copper and nickel exports have grown from 10 percent to 18 percent. So the money we lent is money well spent," he emphasised. He added that in the last two years, they experienced a shift from mining and exploration to economic diversification and environmental issues. He stated that they have given support to Selebi-Phikwe Diversification Unit, assisted on economic diversification studies and funded BCL with management and technical studies to improve its operations.