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Govt spends P980m on closed BCL 

SHARE   |   Wednesday, 07 June 2017   |   By Phillimon Mmeso
Govt spends P980m on closed BCL 

The government has spent close to a Billion Pula on BCL mine since it was put under provisional liquidation. Appearing before the Public Accounts Committee (PAC), the Permanent Secretary in the Ministry of Minerals, Energy and Green Technology said the P980 million used included liquidation fees. A total of P24 million has been paid to liquidators, KPMG. PAC member Ndaba Gaolathe asked if the value of the equipment at BCL, especially the smelter was not depreciating, the newly appointed PS said that he cannot confirm nor deny that. The decision to put BCL on provisional liquidation, according to the PS, was a recommendation of his ministry to the executive.

Last year government put BCL Mine and its subsidiary Tati Nickel on provisional liquidation which was supposed to elapse in February this year but has since been extended. On the sale of BCL, he said that it is being handled by the Minerals Development Company of Botswana (MDCB) which is currently headed by Sebetlela Sebetlela. On their parting with their previous CEO, Paul Smith, he said that they had problems with him as he was not cooperating with the board and didn’t consult on some major decisions that had to be made. “He has done a lot of harm to the company as there was inadequate consultation,” he said after Gaolathe asked if his stay has done more harm to MDCB.