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United Kingdom

Russia's Norilsk Nickel appeals against Botswana court ruling


Thursday, 2 Aug 2018 

Aug 2 (Reuters) - Russian nickel and palladium producer Norilsk Nickel says: :Has submitted an appeal against a Botswana court ruling in June regarding the sale of the Nkomati and Tati facilities .The ruling effectively sought to preclude Nornickel from defending its rights in a London court .The ruling was the court's response to Nornickel's claim to recover $277 million in debt from BCL, a local state-owned enterprise.BCL Mine pulled out of a 3 billion pula ($281 million) deal in October 2016 to buy a 50 percent stake in Nkomati Nickel Mine from Norilsk due to a lack of funds, prompting the Russian firm to file a legal claim nL5N1QR0SV.