21 Nov 2024

The BCL liquidator had been unable to find a single buyer for the remaining BCL assets and as  a result, entered into a series of transactions to dispose of the BCL assets on a piecemeal basis, says the Minister of Minerals and Energy, Ms Bogolo Kenewendo.

The minister told Parliament on Wednesday that the BCL Hospital was consequently sold to a citizen investor group for P30.9 million while the BCL Laboratory Complex was sold to the Botswana Geological Institute for a consideration of P9.3 million.

Also, she said the liquidator had entered into a conditional sale agreement for the disposal of the Slag Dump and Tailing Dam and associated infrastructure for a consideration of P200 million.

Minister Kenewendo said the liquidator entered into a conditional sale agreement with PNRB for the sale of certain mineral rights adhering to the No. 3 shaft and BCL for P90 million.

She further said the BCL Magazine had been sold to Eneax, which is a South African listed entity for P2.5 million, while Waste Rock Dump had been sold to a citizen entity for P250 000.

She said the liquidator had entered into a binding agreement on the sale of the Tati Phoenix Mine Complex with a German investor for a consideration of US$15 million (about P204 million). She also explained that the BCL Farm had been sold to government for P2 million and the purchase price was being set off against the GRB’s loan account.The minister also said Tati Laboratory Complex had been sold to Botswana Geological Institute for a consideration of P13.9 million.

The liquidator had entered into a binding agreement with Premium Nickel Botswana for acquisition of BCL’s Selebi Mines and Tati’s Selkirk Mine at  P764 million.

Selebi Phikwe East Member of Parliament, Mr Kgoberego Nkawana had asked the minister about the progress made by the BCL liquidator on the sale of BCL property and to state what had been sold, amount realised from the sales and challenges the liquidator was facing if any. ENDS