Arabs offer to buy �disputed� Nkomati stake

Wednesday, May 03, 2017

The Emirates Investment House (EIH) this week extended their due diligence on BCL assets to Nkomati Mine after getting the greenlight from Russia’s Norilsk Nickel, Minister of Minerals, Energy Security and Green Technology Sadique Kebonang said yesterday.

The 50% stake in Nkomati is under a legal dispute between BCL and Norilsk Nickel, with the Russians claiming they are owed $271 million by the BCL Group since a 2014 deal for the stake was now unconditional and binding.

BCL and government on the other hand insist the deal was not unconditional and they are not obliged to pay for the Nkomati stake.

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