https://www.miningweekly.com
Botswana|Mining
Botswana|Mining
botswana|mining

Nornickel settles dispute with Botswana and BCL

18th November 2021

By: Creamer Media Reporter

     

Font size: - +

Russian mining company Norilsk Nickel (Nornickel) has settled its dispute with the government of Botswana and BCL over the sale of its African assets, including a 50% interest in the Nkomati joint venture.

As part of the settlement, the parties have waived any and all claims against each other in connection with the transaction. Nornickel said it had received a cash compensation, without disclosing the amount.

The Russian group has withdrawn its claim against BCL in the London Court of International Arbitration (LCIA) and is in the process of terminating its court proceedings in Botswana against the government.

In October 2014, Nornickel signed a sale agreement with BCL for the sale of its interests in the Nkomati and Tati mines. The agreement became unconditional in 2016, but BCL did not complete the transaction.

In October 2016, the government of Botswana, which is the ultimate shareholder of BCL, successfully petitioned the High Court of Botswana to place BCL Group into provisional liquidation.

Nornickel subsequently filed a claim against BCL in the LCIA and a claim against the government in the High Court of Botswana, claiming that government was liable for BCL's debts to Nornickel.

In 2018, Nornickel terminated the sale agreement in light of BCL's breach of contract, but continued its claims against the government of Botswana and BCL.

 

Edited by Creamer Media Reporter

Comments

Showroom

SBS Tanks
SBS Tanks

SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...

VISIT SHOWROOM 
Stewarts & Lloyds
Stewarts & Lloyds

Stewarts & Lloyds today supplies steel and tube, pipe and fittings, valves, pumps, irrigation, fencing, profiling and roofing products. The cash...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.129 0.161s - 108pq - 2rq
Subscribe Now