Austrian investor eyes Tati Nickel
Mbongeni Mguni | Wednesday August 7, 2024 14:34
According to information shared by the presidency on Wednesday, Caner met with President Mokgweetsi Masisi, Minerals and Energy minister, Lefoko Moagi, and other senior government officials on Tuesday.
Caner’s wholly owned investment group, NIU Invest is reportedly studying a possible offer to buy Tati Nickel, Moagi told state television in a brief interview. The minister said further details of the proposed deal could not be revealed as discussions continue.
Tati Nickel operated the Phoenix Mine before its closure. Its other mine, Selkirk, was snapped up by Premium Nickel Resources Limited for P67 million two years ago, as part of a push to resuscitate BCL Mine’s operations.
Phoenix was the mainstay of Tati Nickel’s operations in its final years.
Caner's interest in Tati Nickel comes five years after the search for a new investor officially ended. At the time, then Minerals minister, Eric Molale, told Parliament that 47 offers had been received for Tati Nickel but these had all failed to meet the grade.
Around the same time, then BCL Ltd liquidator, Nigel Dixon-Warren, said Tati Nickel's disposal had to be combined with the sale of the broader group, which includes the smelter at BCL Mine in Selebi Phikwe.
'At the moment Tati Nickel can only be viable when BCL is fully operational. “If BCL is operational, the ore material from Tati Nickel will then be smelted at a smelter operated by BCL which would help bring operational costs to a very reasonable level. “If an investor buys Tati Nickel and resorts to smelting the nickel from the mine at other facilities, which will inevitably be outside the country, this would not be viable owing to transport costs and that of other logistics,” Dixon-Warren said at the time. Ends...