According to newspaper Botswana Guardian, the world’s largest nickel and palladium producer Norilsk Nickel is planning to shut operations at its Botswana-based Tati Nickel mine.
The effects of a shutdown may result in the retrenchment of about 1 200 employees.
The tabloid said that the Russian-owned Tati mine’s management undertook an assessment tests and concluded that the copper and nickel mine is has no value.
It has been revealed that the target was to ascertain whether the Norilsk would achieve 1200 t production output between 25 February 2013 - 25 March 2013. Thus far the company has only been able to achieve 600 t for that period.
Meanwhile, it was reported in April 2013 that Norilsk Nickel may suspend operations at its Tati Nickel mine in Botswana after a sharp drop in metal prices.
Global prices for nickel, a key ingredient to make stainless-steel, had fallen 10% since the start of 2013, forcing the company to review some production, Norilsk said in the prospectus for a forthcoming Eurobond issue.
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