Lerala Mine's P81m sale stuck in limbo

Lerala Mine was auctioned off on May 30, 2018 having closed on May 29, 2017, with the winning bidder offering US$8.1 million (about P81m). Under the conditions of the sale, a portion of the funds should have been paid over within a certain period, before mining rights could be transferred, followed by the balance.

BusinessWeek is informed that a citizen-led consortium with ties to the Tswapong area put in the winning bid, but failed to close the deal due to financing challenges.