Hope for Tati, BCL as base metal prices rise

30 March, 2009 in Botswana, Business

source: Mmegi
BUSINESS
CORRESPONDENT
27 March 2009

Relief could be on the horizon for the country’s top producers of base metals, BCL Mine and Tati Nickel Mine, in the form of an emerging positive trend in copper and nickel prices on the world market.

Base metal prices fell by more than 60 percent from their levels in the first half of last year, resulting in massive retrenchments and other cost-cutting measures. BCL Mine is expected to lay off 200 workers with scores of others voluntarily retiring while Tati is at loggerheads with unions over a voluntary separation package.

Thankfully, trends on international commodity markets indicate that copper and nickel prices could recover towards the end of this year and into 2010, driven by renewed demand in the world’s fastest growing economy, China.

While the projected recovery is not expected to [continue reading]

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