Zambia to Conclude deal over Mopani within a month
Zambia expects to conclude talks over buying Glencore Plc’s stake in Mopani copper mines Plc within a month, according to Barnaby Mulenga, permanent secretary in the Ministry of Mines. Mulenga declined to disclose the size of the stake that state-owned ZCCM Investments Holdings is trying to acquire. ZCCM-IH currently has 10% of Mopani, with Glencore holding 73.1% and Vancouver-based First Quantum Minerals Ltd. 16.9%. Zambia wants to raise its holding after clashing with Glencore earlier this year over the company’s plan to mothball Mopani’s operations. But it’s unclear how the cash-strapped government,…
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