Industry News by Nemesis

Botswana State-Owned Minerals Firm Takes Shape, New CEO Appointed

March 11, 2016

Botswana’s state-owned Minerals Development Company Botswana (MDCB), which was set up last August, is now taking shape following the appointment of a chief executive.


MDCB was set up to help government manage all its assets in the mines such as those in Debswana and BCL.


Mmegi newspaper quoted MDCB board member, Mmetla Masire as saying that the new chief executive Paul Smith, started work last month and his immediate task was to transfer the assets of Morupule Coal Mine (MCM) and BCL to the state minerals company. 


 “What has been happening is that the sourcing of the CEO took place in February and his first task is to continue the asset transfer, which we had already started,” he said.


 “We have engaged consultants to see how best to deliver the shares because there are cost implications. The first asset is Morupule Coal Mine and BCL. At BCL, his task is also to optimise operations.” 


He also said that the transfer of the remaining assets namely; Diamond Trading Company Botswana (DTCB), Debswana Diamond Company and Botswana Ash would follow after the completion of the transfer of the first batch of assets. 


Source: Rough&Polished

Please reload

Follow Us...
Recent Posts
Please reload

Please reload

Search By Tags