Sherashiya proposes acquisition of BCL assets

Competition and Consumer Authority is assessing a proposed acquisition of BCL mine assets by a private steel and coal exporter, Sherashiya (Pty) Ltd. Sherashiya controls a steel plant in Selebi-Phikwe, previously owned by Pula Steel and Casting Manufacturing Proprietary Limited. The company produces industrial steel products.The BCL assets consist of business assets which were used in the Selebi Mine, more particularly the property, slag, tailings, mining and processing assets from its mining and smelting facility situated on the BCL lease area. The steel plant is currently used to manufacture steel billets from steel scrap and shall provide for the subsequent conversion of the billets into end products including angle irons, round bars, man-hole covers, pots, fencing products and other products in the near future.BCL, which is currently under liquidation directly controls Pula Steel and Casting Manufactures Proprietary Limited (In Liquidation), as well as BCL Investments Proprietary Limited. CCA stated that it seeks stakeholder views for or against the proposed merger. “According to section 50 (3) of the Competition Act 2018, any person, including a third party not a party to the proposed merger, may voluntarily submit to the investigator or the Authority any document, affidavit, statement or other relevant information in respect of a proposed merger.” BCL is wholly owned by the Government of Botswana.Prior to being placed in liquidation in 2016, the company operated the BCL mine (now in care and maintenance) which produced nickel-copper-cobalt group metals (Ni-Cu-Co). These minerals were then shipped to Selebi-Phikwe to be smelted into a high-grade sulphide matte, containing nickel, copper and cobalt, and were then exported to international markets.

Explore

More

Business

Sherashiya proposes acquisition of BCL assets