Premium Nickel to acquire Botswana nickel-copper-cobalt assets

Premium Nickel Resources (PNR) is set to acquire Selebi nickel-copper-cobalt assets and related infrastructure formerly operated by the state-owned BCL Mine Limited.
PNR is targeting the closing of this transaction, and transfer of ownership of the assets, within 120 days. It is also negotiating a separate asset purchase agreement to finalise terms for any prioritised Tati Nickel Mining Company (TNMC) assets that may be sold.
PNR submitted its indicative offer to the BCL and TNMC liquidators in June 2020 to acquire the assets of the former producing BCL Mining Complex and separately the TNMC operations located in north-eastern Botswana. 
 PNR was selected earlier this year as the preferred bidder and it entered into a memorandum of understanding last March providing for a six-month exclusivity period to complete additional work and negotiate the asset purchase agreements.
“During the exclusivity period, PNR has been collecting new information, including approximately 700 kgs of fresh representative ore,” said PNR chief executive Keith Morrison.
“The subsequent metallurgical testing carried out at SGS Lakefield, confirmed our redevelopment plan for Selebi to produce separate copper and nickel-cobalt concentrates.”
Mining concluded in October 2016 when the operations were placed on care and maintenance due to a failure in the processing facility. 
At its peak, BCL Mine produced an average of 40 000 t of copper and nickel annually before high operating costs and low international commodity prices prompted its liquidation in 2016.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished