Government now wholly owns BCL

BCL board chairman Dr Akolang Tombale has revealed that the move was necessary to give government effective control of the miner particularly in view of its drive to diversify the local economy of the Selebi-Phikwe region. Tombale told a press conference this week that in pursuit of its Polaris 11 strategy the company has undertaken a number of initiatives geared towards cleaning the balance sheet.  This was not only to ensure the company is debt free but is also to position it to derive the shareholder value.

“These initiatives are restructuring the company ownership and the debts settlement,” he added.