Russian mining company Norilsk Nickel is to sue the Botswana government to recover more than $277m, excluding damages and costs, because of "reckless trading" of state-owned Botswana Copper (BCL) and the failed sale of the Nkomati nickel mine in SA. Botswana is African country rated highest in annual mining surveys conducted by Canada’s Fraser Institute. "The government has displayed a complete disregard for the fair, frank and reasonable dealing with outsiders that BCL’s insolvent circumstances demanded," said Norilsk Nickel Africa CEO Michael Marriott. "Botswana has a reputation as one of the safest and best places to invest in the whole of Africa and it has earned the strongest credit rating on the continent on that basis. "The way that the government of Botswana has acted over BCL brings the validity of that reputation into question." Copper and nickel producer BCL said in October 2014 that it had agreed with the world’s largest nickel producer, Norilsk, to pay $337m for its 50%...
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