Investor pulls out Boseto Mine deal

Boseto Mine
Boseto Mine

Cupric Canyon Capital has pulled out of negotiations with Discovery Metals Limited (DML) to buy the troubled Boseto Copper Mine, after failing to meet the end of January deadline.

This is the third time talks to find a buyer for the cash strapped mine have collapsed after Singaporean firm Blumont, Chinese company, Cathay, pulled out of acquisition talks in 2013 and 2014 respectively.

According to the company statement, DML has announced that that they have started to re-engage with a number of parties who are interested in funding the Boseto Copper Mine, as the exclusive period they had entered into with Cupric has expired.

Editor's Comment
Human rights are sacred

It highlights the need to protect rights such as access to clean water, education, healthcare and freedom of expression.President Duma Boko, rightly honours past interventions from securing a dignified burial for Gaoberekwe Pitseng in the CKGR to promoting linguistic inclusion. Yet, they also expose a critical truth, that a nation cannot sustainably protect its people through ad hoc acts of compassion alone.It is time for both government and the...

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