SA holds key in billion pula BCL battle :: Mmegi Online

While the fight over the US$271 million deal between BCL and Norilsk Nickel rages on in London and Gaborone courts, an upcoming judgement in a lesser known case in South Africa could snuff out the entire matter. Staff Writer, MBONGENI MGUNI reports

During a heated debate in Parliament recently, minerals minister, Eric Molale touched on a case which, while less high profile than the London and Gaborone battles being fought, has the potential to end the BCL, Norilsk Nickel battle.

Following the closure of BCL Mine in 2016, Norilsk Nickel attempted to open arbitration against BCL Mine in London for the recovery of a US$271 million claim involving the sale of the Russian giant’s African assets to the local group. In Gaborone, Norilsk Nickel has a reckless trading suit outstanding against BCL directors and government to the effect that their misgovernance caused the closure of the Mine and the subsequent failure of the US$271 million deal.

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