Phikwe dares to dream again as billions pledged in BCL deal

Former BCL miners might return to work
Former BCL miners might return to work

The revival of Selebi-Phikwe received a major boost recently, with the revelation that BCL Mine’s new owner, Premium Nickel Resources Botswana, plans to inject P5 billion towards sprucing up infrastructure at the old mine in preparation for reopening.

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.

Editor's Comment
Masisi should avoid diplomatic tensions

Mokgweetsi Masisi’s recent spats regarding the supposed involvement of Eswatini and South Africa in accommodating former president Ian Khama have sparked concerns about the potential ramifications on diplomatic relations. While transparency is valued, it must be accompanied by strategic communication to mitigate unintended consequences.President Masisi’s comments during a diplomatic heads meeting have drawn attention to the delicate balance...

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