In August, Caner met with President Mokgweetsi Masisi, Minerals and Energy minister Lefoko Moagi, and other senior government officials, reportedly to finalise the Tati deal.
Caner’s wholly owned investment group, NIU Invest, successfully submitted a $15 million proposal to acquire certain assets of Tati Nickel Mining Company.
According to the CCA, the proposed acquisition focuses on the Phoenix Mining complex and its associated assets, infrastructure, and equipment.
Tati Nickel Mining Company has been in liquidation since October 2016, with the Phoenix mine under care and maintenance as far back as 2003. Before its closure, Tati Nickel was a prominent producer of nickel, copper, cobalt, and platinum group metals (Ni-Cu-Co-PGM), vital minerals in both industrial and technological applications. However, due to operational challenges and a prolonged downturn in commodity prices, Tati Nickel struggled financially. The company’s mounting debts eventually led to its liquidation.
The closure of Tati Nickel left the Phoenix Mining Complex idle, resulting in no active mining since its shutdown. Tati Nickel’s other asset, the Selkirk Mine, was sold two years ago to Premium Nickel Resources Limited for P67 million as part of an effort to revive BCL mine operations, which have also faced significant challenges.
NIU Invest has formed a special-purpose vehicle for the transaction called Tataki Mining Company, registered in Botswana. The company is wholly owned by NIU Mining (Botswana) Limited, a subsidiary of NIU Mining Financing Ltd, part of the broader NIU Group with affiliations to NIU Invest.
If the acquisition proceeds, Tataki Mining will be tasked with revitalising the complex and restoring productivity, a move that could inject new life into the north and Francistown in particular.
With the proposal now under review, the CCA will assess the potential acquisition for regulatory compliance, competition impact and overall benefits to Botswana’s economy.
