BCL Mine kick-starts retrenchment process

BCL Mine owes its creditors about P900 million and is presently operating at a cash cost of US$7 per pound of nickel, when the base metal is fetching approximately US$4 per pound. Base metal prices in general are at six year lows, due to a downturn in global economic activity.

Ahead of the official notification, the Botswana Mine Workers Union (BMWU) was yesterday scrambling to secure an urgent meeting with management and also brief workers on the latest developments.