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Mphathi-led firm seals BCL revival deal

Friday, October 01, 2021 | 5190 Views |

Back to life: BCL Mine is set to restart soon

Premium Nickel Resources Botswana (PNRB), a firm led by former BCL boss Montwedi Mphathi, has concluded a purchase agreement for the BCL Mine. Not only is the purchase agreement for the mine, but it also includes two of its three shafts and related infrastructure as part of plans to revive BCL.

PNRB, a subsidiary of Canadian nickel developer, Premium Nickel Resources, is targeting the closing of the transaction and transfer of ownership of the assets within 120 days, Mmegi has learnt.

As at Press time yesterday, the value of the transaction had not been disclosed, but Premium Nickel Resources previously said it expected to raise $400 million (P4.5 billion) in funding to bring the mine infrastructure up to the commissioning stage.

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Mphathi-led firm seals BCL revival deal

Premium Nickel Resources Botswana (PNRB), a firm led by former BCL boss Montwedi Mphathi, has concluded a purchase agreement for the BCL Mine. Not only is the purchase agreement for the mine, but it also includes two of its three shafts and related infrastructure as part of plans to revive BCL.

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