(Kitco News) - Glencore has been locked in a bitter dispute with the other owners of the mine its plan to mothball Mopani’s operations. It seems the only investment strategy is to get in early after the changes are introduced and hope you get at least twenty years – like into Angola or Nigeria now. Zambia and Glencore are at “cross purposes” over Mopani, Musukwa said on Tuesday when he announced ZCCM-IH aims to increase its shareholding in Mopani to 51% “… or even more”, from 10% currently. Mopani is committed to establishing a winning team and a copper and cobalt business it can be proud of. “Mopani Copper Mines Plc is pleased to announce the appointment of the new Chief Executive Officer, Mr Nathan Bullock, who joins the company from BHP Olympic Dam Mine in Australia. Tragically, the lives of three employees were lost after a loader caught fire,” he stated. Deposit Type Stratabound (SMS) Mopani has shut its mines in Kitwe and Mufulira and placed them under “Care and Maintenance”. Enter your email address to subscribe to our website and receive notifications of Latest Zambia News via email. Zambia’s Minister of Health Chitalu Chilufya has tested Positive to Covid-19 as the country recorded 137 new cases, from the 4,264 tests done in... A POLICE reservist of Kabangwe police post who was reported missing has been found dead. Mopani devised a strategy to revitalise the control activities, face the malaria challenge head-on, and gradually stamp out the disease. The DRC reneged on taxation stability clauses too after about 20 years. Mopani Copper Mines Public Relations manager Nerbert Mulenga, who confirmed the development, said the incident happened yesterday around 13:45 hours. The body has been discovered in 15 Miles area. It has also advised its contractors to wind up affairs and return to Panama and Chile. Mopani Copper Mines, which produced 119,000 tonnes of copper in 2018, is 73.1% owned by Glencore, 16.9% by First Quantum Minerals and 10% by Zambia's mining investment arm … By Michael Kaluba . Nathan... A PRINCIPAL at a private school in Lusaka’s Kanyama township has allegedly raped his 34-year-old female teacher whom he later offered K500 to stop... Mass screening and Testing is underway in Lusaka’s Emmasdale and Chaisa Township which are considered high risk areas for COVID-19. Mine workers in one of the Zambian Mines on the Copper belt Two miners have died at Mopani Copper mine in Kitwe after a blasting accident this morning. According to reuters, global mining company Glencore’s Zambian unit Mopani Copper Mines (MCM) made the announcement in … ... Latest News. However, lots of questions remain as it remains unclear how the cash-strapped government, which last week defaulted on a Eurobond interest payment, would finance any deal. Mopani Copper Mines has informed all its contractors and suppliers that the mine will only offer a one month contract to each, pending the outcome of the appeal processes against government’s latest rejection of the firm’s proposal to place its mining … Mopani Copper Mines Plc is a Zambian registered copper mine owned by ZCCM-IH (10%), Glencore Plc (73.1%) & First Quantum Minerals Ltd (16.9%). Two miners have died in a fatal mine accident at Mopani Copper Mines South Ore Body shaft 3010ML in Kitwe. In a bid to empower small-scale miners, Mopani Copper Mine has given a sum of K1.7 million to small-scale miners. The buyer would be ZCCM-IH, Zambia’s state-owned mining company which has a stake in Mopani along with First Quantum Minerals, the Canadian miner. Zambia to block Glencore's plan to close Mopani Copper Mines – Reuters. Glencore Finance is the major shareholder of Carlisa Investments Corporation, which in-turn, is the majority shareholder of Mopani. Take ownership for driving your own career development by participating in ongoing training and development activities such as conferences, workshops, etc. The two sides briefly fell out in public after mines minister, Richard Musukwa, threatened to suspend Mopani’s mining licence unless it kept the mine open. The Human Rights Commission has said that it is concerned with the increasing number of health workers testing positive for Coronavirus. However, the government refused to grant permission. He said the sinkhole is a two-hectare caving area within Mopani Copper Mines Plc’s mining rights area and was a safety hazard to the informal miners invading it. TOP NEWS. Minority shareholders are spread throughout the world, in various locations. Mining Licensing Committee secretary Michael Chibonga sent a notice dated 14 April to Mopani chief executive Nathan Bullock. Search all the latest Mopani jobs in limpopo. Enter your email address to subscribe to Zambia News 24 and receive notifications of Latest News via email. Three miners have died at Mopani Copper Mines in Kitwe following an accident caused by fire underground at Mindola North Shaft. “Nathan has subsequently been released,” Glencore said in […] When Mopani Copper Mines commenced operations in 2000, the region’s malaria control activities had completely come to a halt, and the disease’s incidence rate had risen to 216 people in a population of 1000. ZCCM-IH currently has 10% of Mopani, with Glencore holding 73.1% and Vancouver … GLENCORE may sell its entire 73.1% stake in Zambia’s Mopani Copper Mines to the government, said Reuters citing two sources with direct knowledge of the matter. Glencore guided to production of between 50,000 to 70,000 tons of copper from Mopani Copper in the 2020 financial year. Zambia intends to revoke the mining licenses of Mopani Copper Mines (MCM), a subsidiary of Glencore, as the firm did not give sufficient notice before suspending its mining operations due to the coronavirus Covid-19 crisis. February, 2019 at 13.45 hours. Glencore in discussions for outright sale of Mopani stake to Zambian Govt, Kenmare says capital cost overrun on $106m plant relocation to increase…, Northam Platinum extends Zambezi Platinum stake to 70%, buying R3.5bn shares, Bring back progressive dividends to trigger mining stock re-rating, says Capital…, Resolute Mining identifies four-year, 80,000 oz/year Syama extension at Tabakoroni, Mali political ructions part of solution, not the problem, says Resolute Mining MD, AngloGold exits Mali after agreeing sale with Barrick of Morila for up to $27m, Anglo to explore for base metals in SA but wants Govt to consider “legislative adjustments”. A copper mine in Zambia is set to shut down on Wednesday due to disruption brought on by the coronavirus pandemic, reports Reuters news agency. The possibility of a sale developed after Glencore attempted to put Mopani into mothballs citing constrained operating circumstances in Zambia which were compounding the effects of a low copper price. This is happening in Zambia, it has happened in Tanzania and even in SA, the government has forgotten the promises it made when the MPRDA was negotiated between 2000 and 2002 – like that BEE ownership requirements would be 26% and no more. Glencore said Nathan Bullock, the chief executive of Mopani Copper Mines, had been held at Lusaka airport in connection with its decision to shutter the business for three months. “It is with deep regret that Mopani Copper Mines Plc confirms an incident of a fatal underground fire at Mindola North Shaft in Kitwe on Thursday, 7. Mopani’s total liabilities exceeded its total assets by $2.56bn in 2019, the company reported in a financial statement, indicating “… a material uncertainty in relation to the going concern assumption”. Mopani Copper Mines PLC ("Mopani") is a Zambian registered company owned by Carlisa Investments Corporation (a joint venture company comprising Glencore International AG (73.1%) and First Quantum Minerals Ltd (16.9%)) and ZCCM-IH (10%). “As of now, we are discussing a potential sale of their stake in Mopani,” said one of the sources. It then emerged in an article by Reuters that the two sides were in discussions Zambia buying a larger stake. HRC Spokesperson Mweelwa Muleya... Tragedy as 3 Mopani Copper miners die in underground fire, I want sex not bible verses, Pastor’s wife cries out after being denied sex for 7 years, Former Anti-Corruption Commission director Agness Ngandu elected to AU Advisory Board on Corruption, Health Minister Chitalu Chilufya tests positive for coronavirus as Zambia COVID-19 cases reach 1057, Missing Kabangwe police officer Nathan Mhango, found dead, Lusaka private school head rapes teacher, tries bribing her with R500, Mass covid-19 screening and testing underway in Lusaka, Shock as 3 Zambian nurses and a doctor contract coronavirus from hospital patients. A Glencore spokesman declined to comment. Recently, Glencore declared force majeure at its Mopani Copper Mines (MCM) subsidiary in Zambia. And since we acquired Mopani in 2000, our investments total more than $4.4bn. 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