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Related News

  • Botswana pulls out of $279m Norilsk Nickel mine deal 2016-10-11
    Botswana 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 2016-06-15
    The 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 2016-03-23
    The 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.

Waterloo Information

  • General 2015-05-10
    Waterloo became part of Norilsk Nickel as a result of the LionOre Mining International Limited acquisition on 28 June 2007. Waterloo partially uses auxiliary infrastructure of the Thunderbox gold mine put on care and maintance. Commercial production at the Waterloo deposit started in October 2006. Ore mined at Waterloo was processed under a tolling agreement at the BHP Billiton Leinster plant in Australia, and the concentrate produced was sold to BHP Billiton for further processing. In 2008, the Waterloo produced ca. 5,800 tonnes of nickel in concentrate. Currently the production is suspended for the indefinite period of time due to the deteriorated economic environment and drastic fall of nickel prices.

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