glencore and shade deals in mining in zambia

Zambia makes takeover bid for Mopani copper mine

2020-11-23 · Event. On November 16th Zambia''s permanent secretary at the Ministry of Mines and Minerals Development, Barnaby Mulenga, stated that the country''s state-run mining investment arm, ZCCM Investments Holdings (ZCCM‑IH), would conclude talks with the international mining giant Glencore over acquiring a bigger stake in the Mopani copper mine …

Zambia looks to buy controlling stake in Mopani Copper ...

2020-8-26 · Zambia''s mining investment company ZCCM-IH is looking to buy a controlling stake in Mopani Copper Mines, a subsidiary of Glencore. The stake acquisition plans have been disclosed by the country''s mines minister Richard Musukwa. The mines minister told Reuters that the company is seeking to acquire a 51% stake "or even more".

Zambia''s state miner on lookout for deals

2021-3-14 · Zambia''s state mining company is on the lookout for further deals as it prepares to complete its acquisition of a majority stake in Glencore''s struggling copper business in the country.. ZCCM Investment Holdings chairman Mabvuto Chipata said the company would consider any opportunities to increase the minority shareholdings its owns Zambia-based …

Zambia''s state miner on lookout for deals | Financial Times

Zambia''s state mining company is on the lookout for further deals as it prepares to complete its acquisition of a majority stake in Glencore''s struggling copper business in the country.

Zambia sees deal with Glencore over Mopani within a …

2020-11-17 · Glencore shelved its plans to place the operations under care and maintenance for 90 days, after Zambia threatened to revoke its mining license in April. The government strategy is driven by a need to safeguard jobs at Mopani, rather …

Glencore in final talks over Mopani sale

2021-1-8 · Zambia''s state mining investment arm has been in talks to buy Glencore''s 73.1% stake in Mopani since August. ZCCM-IH currently has 10% of Mopani, with Glencore holding 73.1% and First Quantum ...

Zambia State mining company buys Glencore copper mine …

2021-1-20 · Zambia''s state mining investment arm ZCCM-IH has agreed to buy Glencore''s majority stake in Mopani Copper Mines in a US$1.5B deal funded by debt and will seek a new investor, the government said on Tuesday. The sale follows Glencore''s attempt to suspend operations at Mopani last year because of low copper prices and COVID-19 disruptions ...

Glencore sells Mopani copper mine to Zambian state

2021-1-22 · On January 19th an international mining company, Glencore, announced that it had signed a deal with Zambia''s state-run mining investment arm, ZCCM Investments Holdings (ZCCM‑IH), to sell it the mining giant''s 90% stake in the Mopani copper mine for US$1.5bn.The sale was achieved using a debt-financed arrangement, under which ZCCM‑IH will borrow …

Glencore seals Zambia copper sale but must wait for the ...

2021-1-19 · Glencore has agreed to sell its stake in Mopani Copper Mines to the Zambian government for $1.5 billion, but will get just $1 upfront. Glencore shelved its plans to place the operations under care and maintenance last year after …

Glencore agrees $1.5bn sale of Mopani to Zambian …

2021-1-19 · The deal should bring an end to tensions between Glencore and the Zambian Government over Mopani''s operations. In April 2020, Zambia threatened to revoke Mopani Copper Mines'' mining licenses after mines were placed on …

Zambia seals debt-funded deal to acquire Glencore''s …

2021-1-19 · 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 Tuesday.

Glencore sells Zambia copper unit to state in $1.5bn deal ...

Glencore has trimmed its tail of assets with the sale of a struggling Zambian copper business to the government in a $1.5bn deal. The sale of its majority …

Glencore''s Mopani Copper to restart mining as Zambia …

2020-5-3 · MOPANI Copper Mines is to restart mining, and provide a 90-day notice period of its intention to place the operations on care and maintenance, the company said in a statement today. During this notice period, it would discuss "potential solutions to its current challenges" following "constructive discussions" with the Zambian government, the company said. Mopani […]

Glencore mine grab would have a tiny silver lining ...

2020-4-20 · Zambia is considering giving China mining assets, including Glencore''s Mopani copper mine, as collateral in exchange for deferral or forgiveness of its debt, the Wall Street Journal reported on April 17 citing two senior government sources on a panel negotiating debt restructuring with China. Zambia said on April 15 it would revoke Mopani''s ...

Glencore unearths copper-bottomed Zambian lifeboat ...

2021-1-19 · Zambia''s state mining holding company, ZCCM, agreed on Jan. 19 to a $1.5 billion debt-financed deal to buy Glencore''s majority stake in the Mopani copper mine. ZCCM currently owns 10% of Mopani. Glencore controls the remaining 90% …

Zambia : Mopani deal in simple terms

2021-1-20 · Glencore has agreed to sell 90% of its shareholding in Mopani Copper Mines to the Government of Zambia(ZCCM-IH). At the completion of the transaction Mopani will be wholly owned() by ZCCM-IH.

REAPING FROM MINING – Daily Nation

2021-11-1 · Glencore PLC is a British multinational commodity trading and mining company with its headquarters based in Baar, Switzerland. The background is that the ZRA conducted an Audit of Mopani Copper Mines for the period 2006 – 2009, which revealed that the transactions between the company and its Swiss parent multinational, Glencore International ...

Glencore Seals Zambia Copper Sale But Must Wait for the ...

2021-1-19 · Glencore Seals Zambia Copper Sale But Must Wait for the Cash. By. Newsroom Infobae. January 19, 2021. ZAMBIA - JANUARY 30: Copper ore is crushed at Mopani Copper Mine Plc''s Mufulira mine in the ...

Glencore seals Zambia copper sale

2021-1-19 · Glencore Plc has agreed to sell its stake in Mopani Copper Mines Plc to the Zambian government for $1.5 billion, but will get just $1 upfront. Glencore has …

Glencore denies tax evasion over mine in Zambia | South ...

Glencore denies tax evasion over mine in Zambia. Their report, based on an audit international accounting firm Grant Thornton prepared for the Zambian government, alleged there was …

Zambian mining struggles to recover from Covid-19 ...

2021-8-6 · Zambian mining struggles to recover from Covid-19. Ahead of a highly contested election this month, Zambia''s economic recovery depends on the mining sector, one of the country''s biggest operators says. As pockets of violence rock the Zambian capital in the run-up to its fiercely contested election next week, miners have called for a radical ...

SPECIAL REPORT: Glencore, the commodities giant with no ...

2018-4-25 · In 2013, Glencore merged with Xstrata, by then the world''s largest coal mining company, and acquired a number of significant mining operations. The company has moved along commodities supply chains, controlling primary …

Zambia''s Head of State hints deal wrap on Glencores stake ...

2021-1-8 · Zambia''s head of state Dr. Edgar Lungu on January 08, hinted that talks with Glencore Corporation over Mopani Copper Mines (MCM) would soon be concluded. Dr. Edgar Lungu said this when he addressed Mopani miners during his visit to the mine as part of his 3 day tour of the Copperbelt of Africa region. The […]

Zambia Seals Debt-Funded Deal to Acquire Glencore''s …

2021-1-19 · 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 Tuesday. The deal is funded by borrowings from Carlisa Investments Corp – a British Islands based company through which Glencore holds its stake – and other members ...

Zambia seals deal to buy Glencore''s Mopani mine ...

2020-9-12 · Zambia seals deal to buy Glencore''s Mopani mine January 19, 2021 January 19, 2021 Janet 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, …

Mopani copper mine sale helps Glencore to quit Zambia ...

2021-1-20 · Glencore has agreed a $1.5 billion deal to exit Zambia by offloading its majority stake in the Mopani copper mine to the country''s government. …

Glencore Seals Zambia Copper Sale But Must Wait for the …

2021-1-19 · Glencore Seals Zambia Copper Sale But Must Wait for the Cash. (Bloomberg) -- Glencore Plc has agreed to sell its stake in Mopani Copper Mines Plc to the Zambian government for $1.5 billion, but ...

Glencore sells Mopani to Zambia in debt-funded deal ...

2021-1-19 · Glencore sells Mopani to Zambia in debt-funded deal. Glencore has agreed to sell its majority stake in the Mopani copper mine in Zambia to minority partner ZCCM Investments Holdings, an investment ...

Glencore''s dirty deal, who is fooling who ? – Zambian …

2021-1-19 · If we say Mopani finds a way to run the mine and pay salaries without touching the $230 million each year, it will take ZCCM-IH 7 years to pay off Glencore the debt of $1.5 billion. Meanwhile Glencore would have made $3.8 …