29 Mar 2016

The Minister of Minerals, Energy and Water Resources, Mr Kitso Mokaila says BCL has never paid its employees late in the current financial year.

Mr Mokaila said the 2016 payroll schedule had been communicated to all employees and was being honoured 100 per cent.

He, however, said for the month of December 2015, some 3^rd party remittances were delayed due to continued liquidity challenges being encountered as a result of the reduced revenue receipts, adding that the affected institutions were notified on time.

The Member of Parliament for Selibe Phikwe West, Mr Dithapelo Keorapetse wanted to know if the minister was aware that BCL employees were paid salaries and allowances late, and that the company was irregularly paying creditors on behalf of employees.Mr Mokaila said metal prices were still low with nickel prices trending at $3.75/lb which continued to worsen the financial situation globally, with BCL included.

“BCL liquidity will continue to be affected by current metal prices and it is very difficult to know how long the situation will last,” he said.

Mr Mokaila said BCL limited owed its listed 620 suppliers P595million, with P452 million owed to local suppliers and P143 million to foreign Companies.

The MP had also wanted the minister to state the number and amount of money owed by BCL to other companies engaged by BCL. Ends