Premium Nickel Resources Corp clinches Botswana’s copper mining bid

According to Mmetla Masire, the Botswana permanent secretary for the Ministry of Mineral Resources, Green Technology and Energy Security, the country has picked Premium Nickel Resources Corp. as the preferred bidder for its shuttered copper mining group BCL Ltd.

Before making an offer for the state-owned miner, Trevor Glaum, the liquidator of BCL, in a Feb. 11 memorandum to remaining employees in the business, said the private Canadian mineral investor has six months to perform due diligence.

Glaum could not be reached for comment regarding the memo

According to a January presentation on the website of North American Nickel Inc., the Vancouver-based founding shareholder of Premium Nickel, Premium Nickel is seeking $26.5 million of funding to be used for its due-diligence operation.

BCL went into liquidation in October 2016 due to high operational costs and low base metal prices. Its mines employed more than 5,000 workers at the time of their closing and have become a political sore point for President Mokgweetsi Masisi’s administration.