Phikwe dares to dream again as billions pledged in BCL deal
Friday, February 18, 2022 | 4000 Views |
![Former BCL miners might return to work](https://cdn4.premiumread.com/?url=https://www.mmegi.bw/mmegi/uploads/images/2022/02/18/30263.jpg&w=800&q=72&f=jpg&t=1)
Former BCL miners might return to work
Last week, the High Court approved the takeover of certain key assets from the copper and nickel mine by Premium Nickel Resources Botswana (PNRB), a firm headed by former BCL boss, Montwedi Mphathi. PNRB is wholly owned by Premium Nickel Resources, a Canadian base metal developer backed by resource investors in that country and elsewhere.
A wholly government-owned entity, BCL Ltd was liquidated in October 2016, with its main asset, BCL Mine, weighed down by high operational costs, bulging debt and low base metal prices. In Selebi- Phikwe, at least 4,300 workers lost their jobs while the town’s economy collapsed as incomes from mineworkers and procurement by the mine disappeared.
The BDP as a party known to have ample resources has always held its primaries well in time, but this time around that was not the case. The first leg of the primaries was held last weekend, with the final leg being billed for the coming weekend. This time around, the BDP failed to shine in its primary elections. The elections were chaotic; most if not all polling stations didn't open at the specified time of 6am. Loyal BDP members braved the...