The Court of Appeal (CoA) will deliver the verdict on a dispute between BCL Group and Norilsk Nickel Africa (Nornickel) next month.
The appeal follows a request by Nornickel to pursue its claim for damages against the government of Botswana and BCL Group to be heard in the London Court of International Arbitration (LCIA).
In June last year, the local court rejected such request, and consequently Nornickel lodged an appeal against such decision.
This week (Friday), the case was heard before the CoA, and the verdict is set to be delivered on the 8th of February, 2019.
In a statement made back in December, Nornickel Chief Executive Officer, Michael Marriott, said they were dismayed at BCL Group’s conduct and their unwillingness to engage in a constructive dialogue.
“We have made efforts in good faith to arrive at a compromise, but they have so far proved futile,” said Marriott.
In October 2014, BCL Group and Norilsk Nickel Africa signed a share purchase agreement for the transfer of Nornickel’s interests in Nkomati and Tati Mines to BCL Group.
However, the deal suffered a blow when BCL Group was placed under provisional liquidation two years later in October 2016.
Even though Nornickel appears to be moving on having terminated the agreement in December last year, it however says it is still going ahead to pursue claims against BCL Group and government of Botswana to recover the loss it suffered as a result of BCL’s failure to honour its obligations.