Canadian exploration company Premium Nickel Group (PNRG) has shown interest in acquiring certain assets of Tati Nickel, the Competition and Consumer Authority (CCA) has announced.
“The Competition and Consumer Authority has received a merger notification for the proposed acquisition of certain assets (Selkirk Assets) of the business of Tati Nickel Mining Company (Pty) Ltd (in liquidation) by PNRG,” CCA says in a statement.
Tati Nickel has been in liquidation since 9 October 2016 while Selkirk Mine ceased operations in 2002 and has been under care and maintenance. According to CCA, the Selkirk assets that PNGR is interested in are related to the Selkirk Mine that was operated by Tati Nickel.
“The key output/product of the Selkirk Mine is Ni-Cu-Co-PGM,” the CCA statement reads. “These minerals were then shipped to Selibe-Phikwe to be smelted into a high-grade sulphide matte, containing nickel, copper and cobalt, which was then exported to international markets such as Norway.”
Tati Nickel is wholly owned by BCL Investments (Pty) Ltd, which in turn is wholly owned by BCL Limited (BCL), which is currently in liquidation. BCL Investment directly controls Maibwe Diamonds (Pty) Ltd. BCL is wholly owned by the Minerals Development Company Botswana (Pty) Ltd. MDCB is wholly owned by the Government of the Republic of Botswana and MDCB directly controls and wholly owns Morupule Coal Mine Limited.
The acquiring enterprise, PNRG, is a special purpose vehicle and does not currently have any business operations in Botswana. PNRG was specifically established to acquire the Selkirk Assets, effect exploration activities as well as pre-feasibility and feasibility studies on the Selkirk Assets, more particularly the nickel-copper-cobalt-platinum-group metals (Ni-Cu-Co-PGM) resources, to develop and construct a new mine and carry out the mining operations at such mine, among others.
PNRG is wholly owned by PNR Selkirk Group (Barbados) Limited (PNR Selkirk), a company registered in Barbados. PNR Selkirk is wholly owned by PNR International Limited (Barbados), a company wholly owned by Premium Nickel Resource Corporation (PNR Canada). PNR Canada is a company incorporated in accordance to the Laws of Canada and is the ultimate parent company of Premium Nickel Resources group of companies (PNR Group).
PNR Group comprises of a large number of firms globally that are ultimately controlled by PNR Canada. PNR Canada has multiple shareholders and is, therefore, not directly or indirectly controlled by any single shareholder or firm.
