Home Business COPPER AND NICKEL PRICES DECLINE

COPPER AND NICKEL PRICES DECLINE

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Nickel output has dropped up to 20% and its price has also dropped tot 17 million per tonne compared to 54 million it sold for in the past.

OPTIMISTIC: Reiling

This was said by Tati Nickel Mine Company (TNMC) acting Managing Director Ditiro Lentswe at Botswana Chamber of Mines Annual General Meeting held at Francistown this week.
TNMC owns two resources Phoenix pit and Selkirk underground mine.

Lentswe said the mine did a feasibility study which indicates that Phoenix has a short life span that will last up to 2015 while Selkirk is left with 9-10 years. “Selkirk is still closed and it is undergoing renovation.

TNMC put high priority to open it before Phoenix close. We are here to stay, we mean business and we are contributing to the economy of Botswana and changing the lives of the people of the  north. As TNMC, we will make sure that all the challenges that we face turn into lasting realities in this area.” Said Lentswe

In her remarks Guest Speaker, Air Botswana CEO Sakhile Reiling said the mining industry is playing an important role in the economy as Botswana is heavily dependent on it for revenue and socio economic security.
“Botswana is about to take its position as a significant global player in terms of coal production with a capacity estimated to be the second largest in Africa.

Chamber of Mines should ensure that such resources are successfully converted into revenue streams for the country. Diamond is a single economic driver, the coal resource might not replace but it will go a long way to address economic diversification efforts by our government. Coal production will bring many great economic opportunities but also brings numerous challenges as it is not environmentally friendly. “Said Reiling
She said mining is naturally destructive to the environment and the industry must find ways to mitigate against this kind of destruction.