New BCL legal move a �tactic� Russians say

BCL Mine
BCL Mine

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).

Editor's Comment
BDF visitation approval a welcome development

BDF camps are military camps, and there is a need for stricter rules and regulations to safeguard their operations as well as ensure the safety of civilians. Of course, military personnel are human, and they have relatives as well as girlfriends and boyfriends, but the fact remains that the BDF is responsible for ensuring national security and stability and, as such, will be one of the first targets in the event of possible attacks. The decision...

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