BCL incurs P1.2 billion loss

Friday, April 22, 2016

Mahupela addressing the media.PIC: KAGISO ONKATSWITSE

BCL plans to shave costs by half this year after incurring an operating loss of P1.2 billion in 2015 due to a litany of challenges headlined by the crash in the prices of nickel and copper.

The BCL group comprises the Selibe-Phikwe based copper mine as well as the Tati Nickel Mine near Francistown.

Speaking to BusinessWeek on the sidelines of a media briefing held in Gaborone this week, Acting divisional manager (finance and Administration) Tobokani Mosetlha said the cost of mining and running the business amounted to P2.5 billion last year while proceeds from copper and nickel sales only brought in revenues of P1.3 billion leaving a shortfall of P1.2 billion.

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