Africa-Press – Botswana. Investors in Tataki Mine, which officially opened today, have pledged to pump in $200 million to revive and revamp operations in the next decade, creating more than 400 direct and 3,000 indirect jobs for Batswana.
Formerly known as Tati Nickel, the base metal mining operation closed in 2016 during the global meltdown in the sector.
Tati Nickel operated Phoenix and Selkirk mines prior to its closure.
Canadian firm, NexMetals has snapped up Selkirk while Global Critical Resource Corp, a US firm, bought Phoenix for $15 million.
Today’s launch is the first activity at TNMC since the closure in 2016, which left dire economic consequences for the village and surrounding areas.
Speaking earlier today, GCR executive chairman, Cevdet Caner, said that new operation was dedicated to partnering the region and the country for sustainable growth.
“We are building a dynamic company that will grow in tandem with Francistown and the entire region,” he said. “Positive social impact and participatory engagement that aligns mining operations with local needs is a key priority for us.”
For his part, President Duma Boko, said Botswana needed to move with agility to partner with investors in powering growth.
“Our economy is experiencing challenges which have resulted in despair on the part of many, even leaders. “The people want solutions, not tomorrow but yesterday and it’s our responsibility to provide answers,” he said at the reopening ceremony.
Boko said the global green transition would offer “significant opportunities for both domestic and international investors”.
He added that both government and GCR are committed to restoring the hope that the people in the region have lost. He pledged that more would be done to generate the opportunities that are desperately needed to grow the economy and sustain lives and livelihoods.
According to Boko, GCR has already agreed to government living wage of P4,000 per month. Tataki investors expect the Mine to spin $$4.2 billion in revenues in the next decade and increase the country’s GDP by 1.5%.
The Mine also plans to invest a significant resources in local development initiatives around education, infrastructure, and healthcaremining.
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