New BCL legal move a �tactic� Russians say

Wednesday, March 15, 2017

A move by BCL Ltd’s provisional liquidator to nullify South African approval of a $271.3 million equity deal between the local group and South Africa’s Nkomati Mine, is a purely “tactical move”, says Russian base metal giant, Norilsk Nickel.

In 2014, BCL announced an agreement to buy 50% of South Africa’s Nkomati Mine from Norilsk Nickel, a deal that only received regulatory approval from the mines Minister there last September, but never materialised as BCL went into liquidation a month later.

When the approval was issued, it satisfied the last outstanding condition under the equity sale, meaning BCL was now liable to pay the purchase price of $271.3 million (P2.8 billion).

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New BCL legal move a �tactic� Russians say

A move by BCL Ltd’s provisional liquidator to nullify South African approval of a $271.3 million equity deal between the local group and South Africa’s Nkomati Mine, is a purely “tactical move”, says Russian base metal giant, Norilsk Nickel.

The audacity to be a unicorn

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Civil Society fights 'flawed' constitutional amendment

Civil Society calls for Constitution review governing Act

IEC rejects 2,513 registrations

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Serowe man 'loses' P1m in trading

Inspect the voters' roll!