Govt buys De Beers out of Morupule Coal Mine

Smith
Smith

Government is taking over full ownership of Morupule Coal Mine (MCM) before transferring the shares in the country’s sole coal miner to the new Minerals Development Company of Botswana (MDCB).

Debswana currently owns MCM with government holding 50% while the remainder belongs to De Beers.

Responding to BusinessWeek enquiries, MDCB CEO Paul Smith said the proposed three-stage transaction involves the unbundling of Debswana’s shareholding in MCM.

Editor's Comment
Botswana must not be a flag of convenience for rogues

‘A man’s country is not a certain area of land, of mountains, rivers, and woods, but it is a principle and patriotism is loyalty to that principle’.- George William CurtisAccording to the report carried in this publication, the fraudsters operating the so-called “dark fleet” have selected Botswana’s flag as their cover of choice. This is a direct assault on our country’s most valuable asset, the good name.For decades, Botswana has...

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