Mysterious twist in BCL, Norilsk P2.7bn battle

BCL Mine
BCL Mine

A Christmas Day decision by Russian metal giant, Norilsk Nickel, to terminate the contract at the heart of its US$271 million dispute with BCL Investments – in the midst of a grueling three year dispute over the same deal – has left local authorities scratching their heads.

The October 2014 deal involved BCL purchasing Norilsk’s assets which included a 50% stake in Mpumalanga mine, Nkomati Nickel, as well as Tati Nickel Mine near Francistown. Payment was due to be made once several regulatory conditions were concluded, the last of which was the transfer of Nkomati mining rights to BCL, by South African mining authorities.

BCL closed down before the deal was finalised and the parties have locked horns in Johannesburg and Gaborone courts over payment of the deal. An attempt by the Russians to move the battle to London, was rejected earlier this year by the Gaborone High Court.

Editor's Comment
Our food safety matters

We commend the GCC inspectors for their vigilance in uncovering serious hygiene violations at establishments like Pick 'n Pay (South Ring Mall), Bravo Restaurant (Main Mall), Chicken Twist (Bonnington), Spar (Main Mall Bakery and Butchery), Choppies Butchery, Pie Time, and Fours Bakery. Their decisive action which includes temporary closures, confiscation of unsafe food, and laying charges sends a powerful, necessary message: food safety is...

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