A dimming copper dream suddenly burns bright
Friday, March 24, 2023 | 1970 Views |
Better days: BCL Mine’s smelter will likely be sold off piecemeal
Since the base metal meltdown of 2016, when a commodity price rout crashed operations at BCL Ltd, Discovery Metals and African Copper, the local copper sector has slowly and painfully pulled itself back up from the collapse.
As prices have picked up since, players such as Khoemacau Copper Mining and Premium Nickel Resources Botswana, located on the Kalahari Copperbelt and at the former BCL respectively, have led the base metal sector’s revival and are presently the most advanced projects.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...