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
Closure as pain lingers

March 28 will go down as a day that Batswana will never forget because of the accident that occurred near Mmamatlakala in Limpopo, South Africa. The tragedy affected not only the grieving families but the nation at large. Batswana throughout the process stood behind the grieving families and the governments of Botswana and South Africa need much more than a pat on the back.Last Saturday was a day when family members said their last goodbyes to...

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