Hope springs for retrenched Boseto workers

Tuesday, June 23, 2015

The proposed purchase of the insolvent Boseto Mine hopped over the second of three regulatory hurdles on Friday, as the Competition Authority (CA) consented to the P330 million transaction.

The takeover bid for the mine near Maun, which is currently under provisional liquidation goes before the High Court today for final endorsement.

If granted, the ratification would pull the mine out of liquidation and provide hope to some of the 800 miners who lost their jobs in February. The provisional liquidation comes after Boseto’s parent company, Discovery Copper Botswana (DCB), was declared insolvent early this year.

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Hope springs for retrenched Boseto workers

The proposed purchase of the insolvent Boseto Mine hopped over the second of three regulatory hurdles on Friday, as the Competition Authority (CA) consented to the P330 million transaction.