Govt will not fund BCL acquisitions


SELEBI-PHIKWE: BCL general manager Daniel Mahupela says the P3.1 billion acquisition of Tati Nickel Mining Company(TNMC) and Nkomati Mines will not be funded by government but from a combination of debt and company cash reserves.

Earlier this week, state-owned BCL announced that it would in the next six months conclude a $337 million (P3.1 billion) deal to purchase Norilsk’s 85 percent stake in TNMC and a 50 percent shareholding in Nkomati chrome mine in South Africa.

Speaking during a press conference yesterday, Mahupela said the mine amassed funding through collaborative efforts with commercial banks.

Editor's Comment
Parents should be more proactive in children’s lives

Parents need to pay particular attention to their children to ensure they grow up in a healthy environment that supports their development and mental health. Healthy attachments between parents and children foster strong bonds, creating a solid foundation for future leaders.In many African cultures, there is a common perception that parents should use a stick to discipline naughty children. While disciplining children is important, it is equally...

Have a Story? Send Us a tip
arrow up