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Business Last Updated: Apr 6, 2021 - 11:41:40 AM


Glencore divests Mopani Copper Mines in Zambia
By Bulk Materials, 31-Mar-21
Apr 1, 2021 - 4:03:45 PM

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ZCCM Investment Holdings plc (ZCCM-IH) has taken 100% ownership of Mopani Copper Mines.

ZCCM-IH shareholders voted overwhelmingly in favour of the resolution acquire 90% of Mopani Copper Mines from Carlisa Investment Corp, as represented by Glencore plc. The EGM and the vote on the resolution represented the last condition precedent, and as such the transaction was completed today (31 March 2021).

Mabvuto Chipata, CEO of ZCCM-IH, commented: “We are pleased to have the strong support of our shareholders as ZCCM-IH begins this important step in the strategic expansion of the Company.

“In increasing the previous minority stake to full ownership of Mopani, ZCCM-IH will be an active participant in a global industry, and a fundamental part of the energy transition as copper becomes a critical metal. This is not only a new and exciting chapter for ZCCM-IH, but also a new beginning for Mopani.

“We look forward to working with the Mopani team. Thank you to all the shareholders who have given this transaction their support.”

The mines owned and operated by Mopani – Nkana and Mufulira – are some of the largest and longest running copper mines in the world and are considered a key Zambian asset.

 


Source:Ocnus.net 2021

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