BCL saga, page-110

Good morning all....as some say, it never rains but it pours.......Now we have this one from Sadique Kebonang, the Minister......who is the one we can take as read??? Anybody's guess methinks.

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Emirati firm eyes mine disputed by Botswana, Norilsk Nickel


3RD MAY 2017

BY: REUTERS
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GABORONE – Botswana hopes to end a lawsuit with Russia's Norilsk Nickel by helping Emirates Investment House (EIH) buy a disputed 50% stake in the Nkomati nickel mine in South Africa, a government minister said on Tuesday.
Botswana's State-run BCL Mine pulled out of a P3-billion ($281-million) deal to buy a 50% stake in Nkomati Nickel Mine from Norilsk Nickel Africa last year after falling into severe financial difficulties.
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Norilsk Nickel filed a lawsuit against the government ofBotswana last week in an effort to recoup $271-million in damages it says it is owed from the aborted sale.
EIH is expected to conclude due diligence on the Nkomati mine by the end of the week, Minerals Minister Sadique Kebonang said. EIH has been conducting a similar process on BCL’s other assets for the past month.
"We are not worried about the lawsuit against government. Our intention is the find a buyer for the BCL," Kebonang told Reuters. "If a deal can be agreed and the funds are enough, we will pay off Norilsk and the lawsuits can then be withdrawn."

EDITED BY: REUTERS