BCL Limited began its operations in August 1956 with a meeting arranged by John Buchunan, Chairman of Minerals Separation Limited between Tshekedi Khama, Regent of the Bangwato Tribe in the Bechuanaland Protectorate and Sir Ronald Prain, Chairman of Roan Selection Trust(RST).
An agreement between the parties signed on the 2nd June 1959 and subsequently ratified by the British House of Lords. This agreement with RST Exploration Limited, a subsidiary of Roan Selection Trust, formed Bamangwato Concessions Limited to operate the concession and to commence mining of Copper and Nickel discovered in the Selebi Area in 1963.
In 1966 higher grade ore was discovered at Phikwe. The Selebi Phikwe ore deposits are owned and operated by BCL Limited in which the Botswana Government has 7.5%; Lion Ore Mining International Group has 6%, Botswana RST Ltd 85% and 1.5% by others.