We did not fail, says BCL boss, Dr. Fichani

BCL Board Chairman Dr Khaulani Fichani says his board and management did all they could to help keep the mine out of the red. Dr Fichani, a replacement of  Dr Akolang Tombale who resigned earlier this year, said his team and the management were committed in ensuring that the mine does not find itself where it is today.

“However this is what we have to expect in the mine industry. Commodity prices have taken a nosedive and there is no how we could have operated while we were making a loss. Which is why the mine and its subsidiary - Tati Nickel Mining Company (TNMC) had to be put under provisional liquidation.

Well, possibly when you were not part of the team you would say ‘I could have done better,’ which we do not dispute, that something better could have been done. But my colleagues did their best,” said Dr Fichani when addressing a press conference in Gaborone yesterday.

He revealed that a decision has been taken to dissolve the management and board of BCL. He however stated that the around 5 000 employees of Tati mine in Francistown and BCL in Selibe-Phikwe would not be affected while the BCL group is under liquidation. He said that operation at the two mines would continue while the appointed liquidator works on the modalities of what is best for the company.

High Court on Monday this week appointed Nigel Dickson Warren as the liquidator. The board chair stated that the liquidator has been given four months to secure assets and find options of what could be done with the company. He would then report back to the High Court on the 9th of February 2017. The liquidator would advise if the BCL should be placed under final liquidation or should the company undergo restructuring.

“It is our expectation also that through this exercise, the liquidator could also secure a partner as you know that (government) is the sole owner of BCL,” he stated. He said through the Polaris II Strategy, there is a great opportunity that the mine could be saved from final liquidation.

Dr Fichani maintained that the strategy has also not failed to save the mine. He said it was only unfortunate that the decline in commodity prices happened during the implementation of the strategy. The BCL Mine management came up with the strategy to prolong the life of the mine as well as diversify its resources and operations from being a single commodity to a diversified business enterprise.