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.

Botswana humbles Kenya

Robbers torment Radisele construction company

End of an era: ISPAAD expires after 14 years

Botswana registers first loss

BDP votes

Now the gloves are off

BIHL finalises P250m exit of FSG

Minergy's coal lures local, international attention

Reconciliation talks excite Batswana