Zambia seals deal to buy Glencore’s Mopani mine
Glencore has agreed the sale of its majority stake in Mopani Copper Mines to Zambia’s mining investment arm ZCCM-IH in a $1.5 billion deal, the miner and trader said on Thursday.
The deal is funded by borrowings from Carlisa Investments Corp – a British Virgin Islands based company through which Glencore holds its stake – and other members of the Glencore group, the company said.
Glencore said that after completion of the sale of its 73% stake it would retain offtake rights of Mopani’s copper production until the transaction debt had been repaid in full
