UAE investors� BCL rescue is welcome news for Norilsk

Friday, May 05, 2017

MMC Norilsk Nickel, the Russian nickel and palladium mining and smelting company, hope that it will be possible to recover US$271.3 million for its 50% share in Nkomati Nickel and Chrome mine in Mpumulanga, South Africa.

Norilsk Nickel, whose largest shareholder is Vladimir Potanin (30.4%), acquired the share in 2007 after buying LionOre Mining International Limited.

After deciding in 2014 to sell non-core and international assets, the Russian company agreed to sell Nkomati to BCL - the Botswana state-owned mining company that last year went into liquidation. The conduct of the Botswana government and subsequently the liquidator Warren-Dixon of KPMG has left a bitter taste in the mouth for Norilsk. Now the best chance of Norilsk receiving its funds appears to rest with an Arab investment company.

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UAE investors� BCL rescue is welcome news for Norilsk

MMC Norilsk Nickel, the Russian nickel and palladium mining and smelting company, hope that it will be possible to recover US$271.3 million for its 50% share in Nkomati Nickel and Chrome mine in Mpumulanga, South Africa.

Limpopo bus crash deeply traumatised me – Ramathuba

Limpopo-45: Messages of hope, support pour in

The dusty burial of 44 ZCC members

Ramotswa police investigate armed robbery

No arrests yet in Radisele double murder case

Palapye police investigate murder

Dibete police crackdown on cross-border car smuggling

Mapatse man, 41, rapes 63-year-old woman

Closure as pain lingers