Botswana pulls out of $279m Norilsk Nickel mine deal 2016-10-11Botswana withdrew its decision to buy a 50% stake in South Africa’s Nkomati mine from OAO GMK Norilsk Nickel because it can’t afford the price tag of just under P3-billion ($279-million). “The kind of situation we are in, where’s that money going to come from,” Khaulani Fichani, chairman of state-owned BCL, told reporters in Gaborone, Botswana’s capital. BCL is now being managed by a liquidator.
Botswana mine closures highlight need for low-cost production 2016-06-15The closure of mines in Botswana had placed emphasis on the absolute necessity for low-cost mining production, E Consult MD Keith Jefferis said on Wednesday. “If we think we can continue as a mining country without being a low cost producer that will be a big mistake,” economist Jefferis told the Botswana Resource Sector Conference.
Botswana nickel miner to retrench workers, sell private jet to survive cash crunch 2016-03-23The cash-strapped Botswana nickel producer Bamangwato Concession Limited (BCL) has announced plans to retrench thousands of workers and dispose of non-core assets, including a private jet, in order to survive a crippling internal liquidity crunch that has been aggravated by the slump in the demand and price of nickel on the global commodity market. In an interview published by local daily newspaper Mmegi on March 22, BCL spokesperson James Molosankwe said the company was reorganising its main strategic businesses to survive the cash crunch and regain viability.
General 2015-05-10This operation is part of the Kola MMC division of Norilsk Nickel. The extracted ore from the mines is processed at the Concentrator, producing collective copper and nickel concentrate. The Concentrator produces copper and nickel concentrate that is further transferred to the Roasting section of the Smelting shop for further processing. Kola Peninsulas refining capacities at Monchegorsk process both Kola Peninsula high-grade matte and matte received from the Polar Division. The key products are nickel and copper cathodes, carbonyl nickel, cobalt concentrate, precious metal concentrates and sulfuric acid.