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PNR experts land in Botswana

patriot by patriot
April 21, 2021
in News
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PNR experts land in Botswana

Mphathi

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PHILLIMON MMESO

editors@thepatriot.co.bw  

The Canadian company Premium Nickel Resources (PNR) which has completed the Exclusivity Memorandum of Understanding (MOU) with the liquidator is now moving with intention to buy BCL Limited assets which include BCL and Tati Nickel Mines.

A team of experts with expertise in   financials, technical and operational matters from the Canadian company Premium Nickel Resources are said to have arrived in Botswana to examine the physical infrastructure in detail of both BCL and Tati Nickel Mines in preparation for purchasing.

Some of the engineers are said to be from North American Nickel, which is a shareholder in PNR.

Contacted for a comment PNR Country Director Montwedi Mphathi could not confirm nor deny that their experts have arrived, indicating that they have to brief their superiors first of any developments.

Information gathered by this publication has shown that PNR has engaged G Mining Services, a Canadian based firm specialising in mining consultancy.

Asked why they have been given an extra six months to do due diligence, Mphathi revealed that it will include negotiations to purchase the assets.

“In our indicative bid we had asked for four months. It took nine months to evaluate the indicative bids and give access to the preferred bidder to start the due diligence. We have been looking at the resource information in the data room and now coming to validate the same on site. We will also examine the physical infrastructure in detail in preparation to buy,” said Mphathi.

He said during this period, they will complete an environmental assessment, a metallurgical study, a review of legal and social responsibilities, a review of the mine closure and rehabilitation plans and an on-site inspection of the legacy mining infrastructure and equipment that has been under care and maintenance.

“Concurrent with this due diligence programme PNR will negotiate definitive agreements on the prioritised assets that will be included in the asset purchase agreement with the Liquidator,” said Mphathi.

He said if the studies can confirm that the mines can be resuscitated, they will make an offer to government through the liquidator.

Mphathi said it will take some time before the mine can be opened as they will shift to pre-feasibility study followed by a bankable feasibility study and putting up infrastructure, securing markets and restarting production.

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  • TDR 1000 returns February 3, 2023
    The Dakar Rally, considered as one of the toughest in many years, is now something of the past and South African Rally-Raid competitors proved their talent while local race vehicle manufacturers and constructors showed their worth and returned from […]
  • Orange splashes P15.4m on FA CupFebruary 3, 2023
    NANCY RAMOKHUA editors@thepatriot.co.bw Orange Botswana through the Orange FA Cup has renewed its sponsorship with Botswana Football Association (BFA) for an additional three seasons valued at P5 138 000 00, an investment increase of 17%. The renewed collaboration will […]
  • Sefalana posts P4.9 billion revenueFebruary 2, 2023
    BAKANG TIRO editors@thepatriot.co.bw Diversified retail giant Sefalana has posted impressive set of results for the half year period ended 30 October, with the company recording P4.5 billion in total revenue. Botswana Stock Exchange (BSE) listed home grown retailer released […]
  • BSB lists P1 billion bondFebruary 2, 2023
    NANCY RAMOKHUA editors@thepatriot.co.bw Botswana Savings Bank (BSB) has listed a bond worth P1 billion with the Botswana Stock Exchange (BSE). The bond note programme will give BSB access to capital and provide alternative funding, reducing dependency on short- term […]
  • Botswana, OPEC seal P1.2 billion loan dealFebruary 2, 2023
    BAKANG TIRO editors@thepatriot.co.bw The Minister of Finance Peggy Serame is highly confident that the P1.2 billion loan that Botswana has secured from the Organisation of Petroleum Exporting Countries Fund for the International Development Fund (OPEC) will boost the country’s […]
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