ZCCM-IH Seeks Increased Shares in Mopani Copper Mines, Reveals Mines Minister | Zambia
Mines and Minerals Development Minister Richard Musukwa has disclosed that ZCCM-IH has expressed interest to increase its shareholding in Mopani Copper Mine.
Speaking at a media briefing in Kitwe, Mr Musukwa said ZCCM-IH seeks to increase its shareholding stake from 10% to a controlling position.
He said a team of experts has been constituted to liase with ZCCM-IH and then engage Glencore on the interest expressed by the minority shareholders.
The interest follows Mopani Copper Mine’s earlier application to place the mine on care and maintenance in view of the COVID-19 outbreak.
He said the negotiations to increase its shareholding in the mining firm will not disturb ongoing operations.
Mr Musukwa said a controlling stake in Mopani Copper Mine will allow a new approach to mining and guarantee safety of jobs for Zambians.
He said mine unions are being engaged to ensure the safety of jobs, further assuring stakeholders that operations at the mining will continue normally.
