PNR signs definitive asset purchase agreement to acquire Ni-Cu-Co assets in Botswana
2021-09-29 10:54:37 [Print]
Canadian Premium Nickel Resources ("PNR") has executed a definitive asset purchase agreement ("APA") with the Liquidator of BCL Limited to acquire the Selebi, and Selebi North (together the "Selebi Assets") nickel-copper-cobalt assets and related infrastructure formerly operated by BCL.
PNR has announced that they are now targeting the closing of this transaction, and transfer of ownership of the assets, within 120 days. PNR will advance the redevelopment of the Selebi deposits using an alternative beneficiation process to produce commercial concentrates of Ni-Cu-Co.
The Selebi Assets include two shafts and related infrastructure (rail, power and water). Shaft sinking and plant construction started in 1970. Mining concluded in October 2016 when the operations were placed on care and maintenance due to a failure in the processing facility. The redevelopment plan is based on the re-characterization of the remaining resources and the ability to produce both a Cu concentrate and a separate Ni-Co concentrate.
PNR has announced that they are now targeting the closing of this transaction, and transfer of ownership of the assets, within 120 days. PNR will advance the redevelopment of the Selebi deposits using an alternative beneficiation process to produce commercial concentrates of Ni-Cu-Co.
The Selebi Assets include two shafts and related infrastructure (rail, power and water). Shaft sinking and plant construction started in 1970. Mining concluded in October 2016 when the operations were placed on care and maintenance due to a failure in the processing facility. The redevelopment plan is based on the re-characterization of the remaining resources and the ability to produce both a Cu concentrate and a separate Ni-Co concentrate.
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