Zambia seeks to take control of Mopani
Zambia’s state-owned mining investment company (ZCCM-IH) is seeking to take control of Glencore subsidiary Mopani Copper Mines, Mines minister Richard Musukwa announced on Tuesday. Mopani, which produced 119,000 tonnes of copper in 2018, is 73.1% owned by Glencore, 16.9% by First Quantum Minerals and 10% by ZCCM-IH. A 10% stake was “not sufficient” to determine Mopani’s future, Musukwa said in a statement, and ZCCM-IH was therefore seeking a larger stake “with a view to holding a controlling stake in Mopani”. The mines minister told Reuters ZCCM-IH was seeking a 51%…
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