Rio Tinto �parks� iron ore projects after BCL closure

According to available documents, BCL Mine had a joint venture with Rio Tinto, called the Molopo Iron Ore project in south western Botswana, which was valued at US$9 million and held three prospecting licences. In an April 2016 briefing in Gaborone, then BCL Ltd managing director, Dan Mahupela said the project had an in situ “conceptual mineral value” of P293 billion. This week, Rio Tinto’s exploration manager for Southern Africa, Paul Hundt said activities had been suspended on the prospecting licences pending the finalisation of BCL Mine’s liquidation.

“We had one licence under Rio Tinto and we also had a joint venture with BCL Mine under which were three more licences,” he told MmegiBusiness from Johannesburg.