Johannesburg - MMC Norilsk Nickel Group (hereinafter 'Norilsk Nickel') has served notice that it intends to commence legal proceedings in Botswana against the Government of Botswana in respect of its involvement in the reckless trading of BCL Limited and BCL Investments Proprietary Limited (together 'BCL'), with a view of recovering the USD 271 million plus damages and other costs that are owed to Norilsk Nickel in relation to the sale of a 50% interest in the Nkomati mine in South Africa ('the Nkomati deal') and the USD 6.4 million that are owed to Norilsk Nickel in relation to the sale of the Tati mine in Botswana. The Government of Botswana is the ultimate shareholder of BCL through its corporate vehicle MDCB.

Full text

OJSC MMC Norilsk Nickel published this content on 28 April 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 April 2017 04:34:06 UTC.

Original documenthttp://www.nornik.ru/en/newsroom/news-and-press-releases/press-releases/norilsk-nickel-issues-notice-of-legal-proceedings-against-government-of-botswana

Public permalinkhttp://www.publicnow.com/view/218718740E72D835BD8A92F350FD26157CF1EA66