Liquidator certifies BCL dead!
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BCL which was put under provisional liquidation last year October is not about to resume operation anytime soon. This was revealed by Nigel Dixon Warren the company provisional liquidator on Tuesday the 17th at a media briefing in Selibe Phikwe.
According to Dixon Warren, the 2017 February 7th date contrary to the belief of many is only a return date in which the liquidation period does not end. “It is not usually the procedure within liquidation dealings for the liquidator to address media and issue out information to the public, but considering the amount of public interest in this matter, I have seen it fit to assemble the media and clear out certain misconceptions and misunderstanding making rounds in the publication circles that are also polluting public knowledge consumption’’ explained Dixon Warren.
He unpacked that on February the 7th, 2017, the High Court will decide if the companies being BCL Limited, BCL Investments, Tati Nickel Mine should be placed under final liquidation or the initial reasons presented to the Court can be dismissed.
“The order granted in 9th October 2016 to wind up the companies was only a provisional liquidation or rule nisi” He said.
“Per the court order any interested party may apply to high court to prevent the Court not to grant the final order which winds up the company’s “According to Warren the court can decide to extent the provisional liquidation period and delay the final winding up (complete liquidation) order if it believes necessary.
He further noted that for the final liquidation order to be delayed or not be granted, that would require a clear demonstration satisfactory to the court that the companies were not insolvent “That’s to say who ever the interested party logging that application would be, will have to prove beyond reasonable doubt why the winding up petition should be dismissed, of which according to my assessment all the three companies are fatally insolvent, like there have no money or funds or whatsoever and have been making massive losses” he said.
BEYOND FEBRUARY 7TH 2017
Nigel who is a well experienced professional housed under KPMG Chartered Accountants Advisory observes that it is in the best interest of all the creditors that the companies be finally wound up into liquidation process followed to its conclusion. Further lecturing on the processes after February 7th, Dixon Warren explained that after that date the real liquidation is only beginning.
In his terms “After February the 7th this year formal liquidation process commences” He observes that the winding up process includes holding meetings of creditors and sale of assets, a process he revealed takes months to over a year. “What happens is that at the return date if there is no application to dismiss the final liquidation order, the Master of the High Court who oversees the liquidation now takes the reins and convene a formal meeting of creditors’” he said.
The creditors meetings are held so that they the creditors can prove their claims against the companies (ie have them recognized as the creditors in the liquidation) so that they can issue instructions to the liquidator and ultimately receive payment against their claim (a dividend) at the end of liquidation process if there are sufficient funds realized in the sale of assets to cover the costs of the liquidation and pay a dividend to creditors. Warren also revealed that erstwhile directors of the companies will be required to attend the two meetings of creditors so that they can answer questions by creditors and the liquidator.
“I am only a provisional liquidator appointed by the High Court, at the 1st meeting of creditors, the proven creditors now nominate the final liquidator, this doesn’t always be the same person as provisional liquidator but in many cases creditors appoint the same person for continuity as the provisional liquidator would have already be familiar with the liquidation and insolvent company records” he explained.
He also indicated that at that meeting, he as the provisional liquidator will present a report written in terms of Section 44 of the companies Act. “This report provides creditors with details of assets and liabilities of the companies and a reason to why the entities failed in the first place. It was also observed that if the BCL companies are put on final liquidation on the 7th February 2017 it is expected that the first meeting of creditors be held in April 2017.
Dixon-Warren noted that the date of the meeting is not set by the provisional liquidator but by the Master of the High Court. “I have to prepare a report and submit claim forms to all known creditors, considering that these companies creditors are relatively many I will need time after February 7th to undertake this” he further stipulated. The BCL Undertaker Warren further added that the second meeting of creditors of which the reins will be on the final liquidator who might not be him, will give an opportunity to creditors to further prove their claims. “Ordinarily this second meeting occurs between three to six months after the first, and the final liquidator will report on the affairs of estate and will be given direction from the creditors as to the sale of the assets”
THE RUSSIAN NORILSK MATTER
The Liquidator also cleared misconceptions on the Russian Norilsk matter which has been making rounds , BCL had entered into an a share purchase agreement with Norilsk Nickel Mauritius and Norilsk Nickel International Holdings Limited to acquire Norilsk interest in South African Nkomati Mine and Tati Nickel Mine in Francistown.
Dixon Warren explains that prior to the liquidation there was a dispute between parties to the agreement as to whether the conditions precedent was met and therefore whether the contract has full force and effect. “Since Norilsk has taken the matter to court at the High Court of Botswana and in London, there are no further comments I can make on the issues” he said observing that once the issue is dealt with at the court of law, if the case went in favor of Norilsk they can approach him and claim their rightful argument as a creditor
Dixon Warren revealed that BCL has a number of creditors which the company had entered into operational contracts with.
He further clarified that Pula Steel contrary to the belief of many is not part of BCL or BCL Investment, stating that it’s a separate entity which BCL has shares not affected by BCL liquidation. “As a matter of fact Pula Steel owes BCL millions in dividends , it is actually one of the few debtors which will have to pay us soon “ he explained adding that RealZim , MTO, Glecon , Zimbabwean Copper companies also owe BCL a few chunks of millions , but emphasized that BCL creditors seat at billions all together.
THE FUTURE OF BCL MINES
Further clearing the air on BCL recommencement of operations, Provisional Liquidator Nigel Dixon Warren unpacked the status of affairs at the mine sites, company assets and potential investors. “There is absolutely no intention to restart operation at the mines , no prospects or what so ever, not anytime soon ,either after February 7th or 1st meeting of creditors , and we are looking at possibly beyond 2017” he said emphasizing that currently there are no resources available to finance operations.
“I have currently placed the mines under care and maintenance, that decision was very paramount to safeguard the assets and preserve the company value” he explained. Dixon Warren revealed that he was advised by professional smelter experts to shut down the BCL smelter which is the most valuable asset of the company, explaining that it would be very costly to keep it running until final liquidation is complete.
“When I arrived here the Smelter was shut down from 7th October as per order by the main shareholder the government , but the BCL engineers advised me to restart it and operate it at a warm temperature as it gets damaged and looses value when it’s not operational” But I later engaged an expert who consulted the manufactures of the smelter and we arrived to a conclusion that it would cost us 5 million pula per month on fuel alone to keep the smelter operational , thus I decided to shut it down , because
the finances I have cannot accommodate that” he explained.
The BCL assets custodian stipulated that there is 24 hour security at both Tati and BCL sites to secure the valuable assets and equipments at the company plants and sites. “I have had instances where it’s said that someone calls the local companies claiming the assets of BCL are auctioned requesting deposits payments , I need to clear the air on that and emphasize that members of the public must be aware of these scams, formal communication of asset disposal will be advertised.
INTERESTED BUYERS
Though no formal offers has been made yet and far from being put forth it was revealed that a number of interested parties have come forth to make their interests known, the liquidator observes that the interested firms and investors are both local and international entities and persons. “No formal offers has been made, you see BCL has been profitless , hence it currently has no value and no investor will make any offer on such bases , we will have to asses and look deep into what opportunities can be salvaged from these companies” he said, adding that such processes and assessment as well as investigations is part of his job and it will take time.
According to Warren any conclusion to sell will be considered after the second meeting of creditors observing that it will only be looked into if it’s at the best interest of the creditors . Said Warren “To further attest to why I am saying the mine will not reopen soon ,even after sale of BCL or investor agreement ,it will take time to do restructuring , refurbishment of equipments and re-designing of shafts to start up the mine on profitability” , “No sane investor would rush to put their money in a company that has been making losses “
FORMER BCL EMPLOYESS
“As we all know I was forced to terminate over 4000 employees contracts, I have paid terminal benefits to almost all of them, only just over 180 have not yet received their benefits” explained Warren adding that reasons to that being the 180 are still being contacted ,some changed addresses amongst other reasons. He observed that he initially retained about 400 employees to help him with care and maintenance but have reduced the number to just over 350.
“I have fired some of my stuff and rehired some of the initially terminated, because I operate under a limited budget and time so I cannot afford incompetent stuff” he explained, Dixon Warren noted that all former BCL employees who occupied houses have been allowed to stay in the house. “We have signed lease with them up to 31st October 2017, and as per our agreement the occupants will not be paying rent in return we want them to keep the houses in good shape and suitable state, however as stated before occupants will pay for their own utilities bills, ie water and electricity ” he said explaining that the date will be probably when selling company asserts will begin.
Nigel Warren noted that having paid terminal benefits to former employee’s there was nothing more he can do as far as health services and other incentives are concerned, um told the government has taken over.
BCL which has been in operation for the past 40 years was put under provisional liquidation last year October 9th after operations were halted 2 days earlier, The decision which is believed to have been orchestrated by state owned Mineral Corporations Limited put over 4000 miners to the streets jobless and thousands households without breadwinners and consequently shutting down the economic nucleus of the whole eastern bloc of the country.
However as reports indicate that cooper and nickel prices have bounced back by 20% the man mandated to dissolve the BCL Group told weekendpost after the media briefing that resident and settlers this side of this country should not put the mine in their plans of survival for the next few months as there is still lot of work to do ,adding that if at all investors put money the mine will only resume operation in 2018 realistically
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The newly elected Botswana Movement for Democracy (BMD) Executive Committee led by Pastor Reverend Thuso Tiego has declared their disapproval of homosexuality saying it is anti-Christianity and Botswana culture.
Speaking at a Media Briefing this past week, BMD President Tiego said Botswana has been a country that respects culture hence endorsing homosexuality will be catastrophic.
“Our young generation grew up being taught about types of families, if homosexuality is passed, at what age will our children be introduced to homosexuality?” he rhetorically asked.
He continued: “If we are going to allow homosexuality then the next day, another person will come and say he wants to practice bestiality. What are we going to do because we have already allowed for this one (homosexuality) and at the end it will be a total mess.” Bestiality is sexual relations between a human being and an animal
This according to Tiego will give those people an opportunity thus disrupting known Botswana beliefs. He however dismissed any notion that the decision to condemn homosexuality should not be linked to the top two of the committee who are men of cloth. “This is a decision by the whole committee which respects the culture of Botswana and it should not be perceived that because we are clergymen we are influencing them, but even if we do, politics and religion are inter-related.”
Of late the church and the human rights organization have been up in arms because of the high court decision to allow for same sex marriages. Ministries ganged up, petitioned parliament and threatened to vote out any legislator who will support the idea. The ruling party, BDP which was to table the amendment in the constitution, ended up deferring it.
BMD President further revealed that he is aware of what really led to the split of the party and he is on course to transform as they approach 2024 elections.
“There are so many factors that led to split of party amongst others being leadership disputes, personal egos and ambitions, toxic factionalism and ideological difference just to mention a few, but we are transforming the party and I am confident that we will do well in the coming elections.
In addition, Tiego is hopeful that they will take the government as they feel it is time to rebrand Botswana politics and bring in fresh blood of leaders.
He further hinted that they are coming with positive transformation as they eye to better the lives of Batswana.
“When we assume government, we promise to be transparent, free and fair electoral processes and encourage pluralism as way of getting back to our roots of being a democratic country as it seems like the current government has forgotten about that important aspect,” Tiego explained.

Reeling under the increasing barrage of stinging international sanctions, the isolated North Korean regime is reportedly up to its old trickery, this time in a more complicated web of murky operations that have got the authorities of five southern African countries at sixes and sevens as they desperately try to tighten their dragnet around Pyongyang’s spectral network of illicit ivory and rhino horn trade.
It is an intricate network of poaching for elephant tusks and rhino horns that spans Botswana, Mozambique, South Africa and Zimbabwe, with the main sources of the contraband being Botswana and South Africa.
The syndicate running the illegal trafficking of the poached contraband is suspected to be controlled by two shadowy North Korean government operatives with close links to one Han Tae-song, a disgraced North Korean career diplomat who, while serving as the second secretary at his country’s embassy in Harare, Zimbabwe, was expelled in 1992 after he was fingered as the mastermind behind a similar illegal ring that was busted by the country’s authorities.
This disturbing tale of malfeasance by North Korean state actors is as real as it gets.
Recent reports indicate that authorities in the source countries are jointly battling to plug holes created by the shadowy syndicate which allegedly has on its payroll, park rangers, border officials and cross-border truck drivers.
Even more disturbing are allegations that some wildlife officials are conniving in misrepresenting numbers of retrieved rhino horns and ivory from poachers and getting kickbacks for their involvement in the pilfering of ivory and rhino horns from government stockpiles especially in South Africa.
In a shocking and well-orchestrated movie-style heist in South Africa, thieves in June this year made off with 51 rhino horns after breaking into a very secure government stockpile facility of the North West Parks Board (NWPB).
While some suspects from South Africa and Malawi were nabbed in a government sting operation, none of the rhino horns – 14 of which were very large specimens that can fetch serious money on the black market – were recovered.
A report of the heist said the police were lethargic by eight hours in responding to an emergency alert of the robbery which was described by North West police spokesperson Brigadier Sabata Mokgwabone as “… a case of business robbery…”
Thabang Moko, a security analyst in Pretoria says the military precision in the burglary, delays in police response, and failure to recover the stolen rhino horns is dubious. “This development lends credence to suspicions that some government officials could be part of a shadowy syndicate run by foreign buyers of rhino horns and ivory,” Moko says.
It is understood that in light of the rhino horns heist in North West, South Africa’s Minister of Environment, Forestry and Fisheries, Barbara Creecy on 1 August, shared her concerns to her counterparts in Botswana, Zimbabwe and Mozambique calling for greater regional cooperation to combat the illegal wildlife trafficking which she believes is being masterminded by the Far East’s buyers of the ill-gotten horns and ivory.
It is believed that foreign kingpins involved in perpetuating the illegal trade are mainly North Koreans vying against Vietnamese and Cambodian buyers in the quest for dominance of the illicit trade in rhino horns and ivory sourced from southern Africa.
Creecy’s concerns, which she also shared to South Africa’s state-run broadcaster SABC, echoed Moko’s worries that the North West heist may have been an inside job.
According to Creecy, there was a need for the International Criminal Police Organisation (Interpol)’s greater involvement in joint investigations by affected countries as there were indications of ‘local knowledge’ of the North West job and that syndicates, “Higher up the value chain actually recruit park rangers to the illegal ivory trade network.”
Botswana’s Environment and Tourism Minister Philda Kereng is on national record admitting that poaching was a source of headaches to her government, especially considering that the daring poachers were making successful incursions into secure areas protected by the Botswana Defence Force (BDF).
This came after poachers gunned down two white rhinos at the BDF-protected Khama Rhino Sanctuary in August 2022 despite Kereng putting the time frame of the killings between October and November 2022.
Kereng hinted at the existence of Asian controlled syndicates and acknowledged that the surge in poaching in Botswana is driven by the “increased demand for rhino horn on the international market” where in Asia rhino horns are believed to be potent in traditional medicines and for their imagined therapeutic properties.
Botswana has in the past recorded an incident of a group of an all-Asian reconnaissance advance team teams being nabbed by the country’s intelligence service in the Khama Rhino Sanctuary.
Masquerading as tourists, the group, with suspected links to North Korea and China, was discovered to be collecting crucial data for poachers.
Also according to reliable information at hand, an undisclosed number of wildlife parks rangers were arrested between September 2022 and January this year, after information surfaced that they connived in the smuggling of rhino horns and ivory from Botswana.
One of the rangers reportedly admitted getting paid to falsify information on recovered horns and ivory which were smuggled out of the country through its vast and porous eastern border with South Africa, and making their way to their final destination in Mozambique via back roads and farmlands in South Africa and Zimbabwe.
“We are aware that in the past year, some rhino horns and ivory illegally obtained from Botswana through poaching activities and shady deals by some elements within our wildlife and national parks department, have found their way out of the country and end up in Mozambique’s coastal ports for shipment to the Far East,” a Department of Wildlife and National Parks (DWNP) source says.
Independent investigations reveal that two North Korean buyers, one of them only identified as Yi Kang-dae [confirmed to be an intelligence official in the country’s state security apparatus], acting on behalf of the disgraced Han Tae-song, financed the entire operation on two occasions between 2022 and 2023, to move at least 18 rhino horns and 19 elephant tusks from Botswana, including pay-offs – mostly to border patrol and customs officials for safe passage – along the knotty conduit across South Africa’s north western lands, then across south-eastern Zimbabwe into Mozambique.
According to a trusted cross-border transport operator in Zimbabwe, the rhino horns and elephant tusks were illegally handed over to smugglers in Mozambique at an obscure illegal crossing point 15km north of Zimbabwe’s Forbes Border Post in November 2022 and February this year.
The end buyers in Mozambique? “It is quite an embarrassment for us, but we have solid evidence that two North Korean buyers, one of them who is linked to a former notorious diplomat from that country who has been in the past involved in such illegal activities in Zimbabwe, oversaw the loading of rhino horns and ivory onto a China-bound ship from one of our ports,” a top government source in Maputo said before declining to divulge more information citing ongoing investigations.
Yi Kang-dae and his accomplice’s whereabouts are presently unclear to Mozambican authorities whose dragnet reportedly recently netted some key actors of the network. Han Tae-song currently serves as North Korea’s ambassador to the United Nations in Switzerland.
North Korean diplomats have in the past used Mozambique as a final transit point for the shipment of rhino horns to the Far East.
In May 2015, Mozambican authorities nabbed two North Koreans, one of them a Pretoria-based diplomat and political counsellor identified as Pak Chol-jun after they were caught in possession of 4.5kg of rhino horn pieces and US$100,000 cash.
Pak’s accomplice, Kim Jong-su, a Taekwondo instructor also based in South Africa, was fingered as a North Korean spy and returned to North Korea under suspicious circumstances on the heels of Pak’s expulsion from South Africa in November 2016.
A security source in Zimbabwe closely following current developments says there is a big chance that Han Tae-song may have revived the old smuggling network he ran while posted in Zimbabwe in the 90s.
“The biting international sanctions against North Korea in the past decade may have prompted Han to reawaken his network which has been dormant for some time,” the source says. “There is no telling if the shady network is dead now given that Han’s two front men have not been nabbed in Mozambique. More joint vigilance is needed to destroy the operation at the source and at the end of the line.”
North Korean diplomats have, as early as October 1976, been fingered for engaging in illegal activities ranging from possession of and trade in ivory pieces, trade in diamonds and gold, the manufacture and distribution of counterfeit currencies, pharmaceuticals, and the sale on the black market, of a paraphernalia of drugs, cigarettes, alcohol and other trinkets on the back of protracted and biting international sanctions against the reclusive state for its gross human rights abuses against its own people and flagrant nuclear tests.
These illegal activities, according to a US Congressional Research Service (CRS) report, have raked in at least US$500m annually for the Pyongyang regime. Other global studies estimate that North Korea’s illegal earnings from the black market are around $1bn annually, and are being channelled towards the country’s nuclear weapons programme, while ordinary North Koreans continue to die of mass starvation.
In February 2014, Botswana, citing systematic human rights violations, severed ties with North Korea with the former’s president Mokgweetsi Masisi (then vice president) calling North Korea an ‘evil nation’ on 23 September 2016, at a United Nations General Assembly forum in Washington, USA.
Botswana has close to 132,000 elephants, more than any of its four neighbouring countries, namely Angola, Namibia, Zambia and Zimbabwe, according to a 2022 Kavango Zambezi Transfrontier Conservation Area (KAZA TFCA) Elephant Survey.
The rhino population in Botswana has significantly dwindled, with poaching a leading cause of the decimation of the country’s rhinos. Despite dehorning and relocating its diminishing rhino population from the extensive Okavango Delta to undisclosed sanctuaries, Botswana has since 2018, lost 138 rhinos to poachers.
The sharp spike in rhino poaching in Botswana came after the country’s government made a controversial decision to disarm park rangers in early 2018.
In a statement delivered in November 2022 to the Convention on International Trade in Endangered Species (CITES) CoP-19 in Panama, the Botswana government instead blamed the surge in poaching to a shift of foreign-sponsored organised poaching organisations from South Africa to Botswana.
“This increase in rhino poaching in Botswana coincided with a decline of rhino poaching in South Africa from 2018 to 2020, suggesting a displacement of the poaching syndicates from South Africa to Botswana,” the statement reads. “The recent decline in rhino poaching in Botswana (2021 and 2022, relative to 2020) coincides with the increase in rhino poaching in Namibia and South Africa, further suggesting displacement of the poaching syndicates across the sub-region.”
According to the Botswana government, as of 13 November 2022 the country has secreted its shrinking rhinos (only 285 white rhinos and 23 black rhinos) in undisclosed locations within the country’s borders.
South Africa has close to 15,000 rhinos. Between January and June 2022 alone, poachers killed 260 rhinos in South Africa for their horns. The country is home to the majority of Africa’s white rhinos, a species whose existence remains under threat of extinction due to poaching.
The major threat posed by foreign state actors including those from North Korea, to southern Africa’s rhino and elephant population remains grim as the bulk of the rhino horns and elephant tusks reportedly continue finding their way to the Far East, where China is being used as the major distribution centre.