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Nornickel resolves dispute with Botswana, gets compensation

patriot by patriot
November 18, 2021
in Business
0

Reuters

Russian mining giant Nornickel GMKN.MM said on Thursday it has settled its dispute with Botswana’s government and BCL Group related to the sale of Nornickel’s assets in Africa, including half of joint venture Nkomati to BCL. Nornickel, the world’s largest palladium producer and a leading producer of refined nickel, received “an agreed cash compensation” as part of the settlement, and the parties waived claims against each other, the miner said in a statement.

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The company has been seeking to recoup $271 million plus damages it says it was owed by Botswana from the aborted sale of a 50 percent stake in the Nkomati mine in South Africa.

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    The underground expansion will also extend the life of the mine to 2038 KITSO RAMONO RelatedPosts Botswana on FMD high alert LUCARA TO GENERATE $1.3 BILLION FROM KAROWE MINE POWER BLACKOUTS RETURN! editors@thepatriot.co.bw Lucara Diamond Corporation has confirmed that… Read more: LUCARA TO GENERATE $1.3 BILLION FROM KAROWE MINE
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