Who owns mopani copper mines This mine belongs to the consortium Mopani Copper Mine (MCM), whose main shareholder is the Swiss firm Glencore. Mopani Copper Mines PLC cathodes are among the purest in the world and we [] that the Konkola Copper Mines has returned to the Vedanta fold. The company mines copper and cobalt at Mindola Shaft, Central Shaft, and South Orebody Shaft and extracts the ore underground before concentrating, smelting, purifying, and packaging the finished red metal for export. zm ; 2024 MOPANI Copper Mines has started clearing the outstanding payments to contractors and suppliers following the inflow of funding from ZCCM-IH’s new strategic equity partner International Resources Holding (IRH). Mopani Copper Mines PLC is a Zambian registered copper mine owned by International Resources Holding and ZCCM-IH Mopani Copper Mines PLC Corporate Office Central Street ; P O Box 22000, Kitwe ,Zambia ; Tel. Mopani Copper Mines PLC plans to grow its production from the current 100,000 tons of copper annually to its full capacity of 225,000 tons of copper per year within the next 5 years. and Abu Dhabi’s International Resources Holding respectively — to ramp up production. Charles Sakanya, congratulated the appointees and urged them to ensure that they practice good governance, uphold high levels of integrity and formulate strategic plans to self-sustain and steer the Zambian giant football International Resources Holding (IRH) has completed its acquisition of Mopani Copper Mines in Zambia. Vedanta owns 80% in KCM and the Zambian judgement-stephen-mafuta-chiyuka-and-ultima-engineering-ltd-mopani-copper-mines-plc31-12-2013 - Free download as Word Doc (. On March 20, 2024, International Resources Holding RSC Ltd, through its wholly owned subsidiary, Delta Mining Limited, acquired a 51% interest in Mopani Copper Mines plc and formation of a strategic The Zambian government is expected to make a final decision on the sale of Mopani Copper Mines this month, securing a new investor for the assets it bought from Glencore in 2021, a source with LUSAKA (Reuters) – Shareholders in Zambia’s ZCCM-IH have overwhelmingly supported its acquisition of a 90% stake in Mopani Copper Mines (MCM), the state-owned mining investment firm said on Wednesday. Silwamba further stated that Mopani Copper Mine underground operations in Kitwe have a remaining life of 26 years and 16 years for Mufulira based Mines, with 110 million tons of proven copper ore reserves, with 1. Mopani area J open pit. The Swiss mining giant Glencore plc. Established by International Holding Company in Glencore Plc and Zambia's state-owned mining company ZCCM-IH could jointly lend Mopani Copper Mines $200 million to help cover running costs under a proposal made by the global miner last week, a Mopani Copper Mines PLC owns the Mufulira ISA Smelter, where concentrates coming from Mufulira and Nkana Concentrators are blended with Toll concentrates from other sources to produce Copper Anodes containing 99. 5 years with interest and a royalty of 10% of the copper price above $12k/t Zambia’s government has shortlisted companies that have submitted binding offers for Mopani Copper Mines and wants to select a new investor by July 31, its mines minister said on Friday. 5bn from Glencore in 2021 and has since also experienced CNMC acquired an 85% stake in Luanshya Copper Mines (“LCM”) in 2009 for US$ 50 million from Enya Holdings BV (“Enya”) following the suspension of operations at Baluba Centre Mine in the advent of the Global Financial Crisis. ƒÿ €ªªªêÿž—“» € J§††GCCuƒy¨;DÆÒ Qá ÐàåP ®&n& ꪖªbîáefVNüw%9 ¥N’ßR~'; Ú²ó( 4 |° –ÓNíXöxoM ÚùåôæéúõÿÏ·“†÷~ñéò ÿ®‰·¡6 ÃÙÛJ,>}ºlÐV‹Ë=² ¸Æ¦ŒlÄÛëÝÙ Äâ2»D-/h'ƒ=Pm9&ÝeLW5 Ö{Ë®‘ç «ûÛá>0¦€¹ýh}L˜Î †aåkÿÔk¢ ÿyþï?µþÇ2 Ê‹‹s è 6Mš„;SE×í÷ÂÒGg™bПPæ´“Ó P‹ ¾ Mopani Copper Mines Plc is a multi-faceted mining investment with operations in Kitwe (Nkana mine) and Mufulira (Mufulira mine) districts of the Copperbelt Province. 6% copper. Zambia’s economy is largely dependent on copper production – estimated at roughly 790,000 tons per year – and centered around the country’s mineral-rich Copperbelt Province. In a statement issued in 21 March 2024 Baar, Switzerland. Sunce 2014, Mopani sunk and equipped three (3) brand new shafts to replace the old infrastructure at both Nkana and Mufulira mine sites, which dates back to the 1930s. International Resources Holding Limited was chosen as a strategic partner in December last year after emerging as the preferred bidder. Musukwa said that ZCCM-IH is In Zambia, the company owns Mopani Copper Mines encompassing mining sites of Mufulira and Nkana, one of the main producers of copper and cobalt in Zambia. Projections foresee an increase in production to 1 million tons by 2026, owing to new investment aimed at increasing production capacity. Most of the town’s residents are routinely exposed to sulphur dioxide fumes, locally known as ‘senta’, but it is the communities closest to the mine that are most affected. The copper and cobalt exporting firm is jointly operated by companies based in Switzerland and Canada. pdf), Text File (. MCM, incorporated under Zambian law, is owned by the British Virgin Islands-based company called Carlisa Investments Corporations (73. “Copper is clearly a metal of the future, and its supply chain is one which the Government of India is. ZCCM Investments Holdings Plc (ZCCM-IH) has sealed a significant pact with International Resources Holding RSC Limited (IRH) for a strategic collaboration involving Mopani Copper Mines Plc (MCM). President Hakainde Hichilema said that the new partner would revive Stealing Mopani-Who owns Mopani Copper? Glencore invested $4. “Becoming a world champion mine means excelling beyond industry norms. Mopani Copper Mines Plc; Mushe Milling Ltd; Limestone Resources Limited; NFC Africa Mining Plc; Rembrandt MCM, which is 100% owned by ZCCM-IH, owns underground mines, a concentrator, a smelter and a refinery at Mufulira mine site, open pits, a concentrator and a cobalt plant at Nkana mine site in Kitwe. The miner owns an 80% stake in the KCM and Zambia state firm ZCCM-IH the balance. They account for most of the mining employment, most of the corporate social investment and most of the media publicity. News provided by Share this article Share toX ABU DHABI, UAE, Oct. Welcome to Mopani Copper Mines PLC . It signifies a pivotal move in their strategy to emerge as a significant player in Africa’s minerals sector. IRH’s acquisition of Mopani Copper Mines aligns with a vision to modernize and decarbonize the operation, with a target to increase copper production to 200,000 tonnes annually within three years. THE Patent and Company Registration Agency (PACRA) documents have revealed that Mopani Copper Mine (MCM) is now owned by Delta Mining Limited with more than 7 million majority shares while ZCCM-IH has remained with only 6, 900 shares with the Minister of Finance having 1 share. Glencore has a major presence in the region and owns huge copper Since acquiring Mopani Copper Mines in early 2024, IRH has launched an ambitious transformation plan to position it as the most productive copper mine in the Copperbelt. Sibanye said it was continuing to engage with ZCCM Investment Holdings, the Zambia state-controlled investment vehicle that owns Mopani. the EIB: the Mopani copper mine in Zambia. Hakainde FQM KANSANSHI MINING PLC ‘FIRST AID TEAM A’ ARE THE 2024 ZAMBIA CHAMBER OF MINES, INTER-COMPANY FIRST AID COMPETITION; Recognition for Kagem’s Mine Safety Milestone: Over 7. (Image by Mopani Copper Mines) . IRH has previously staged a last minute buyout of a 51 per cent stake in Zambia’s Mopani Copper Mines As the successor company to Zambia Consolidated Copper Mines Ltd (ZCCM Ltd), which itself was created from the merger of NCCM and RCM in 1982, ZCCM-IH’s story is the story of Zambia’s Mining Industry and much much The mining giant is currently working on sinking three new shafts, investing US$1. This achievement demonstrates the company’s commitment to investing in ethical practices in its procurement and supply chain activities. The transaction sees Glencore exit from its loan to MCM. of Abu Dhabi will invest more than $1 billion in Zambia’s Mopani copper mine, securing access to a metal that’s key to the energy transition as fears Kansanshi Mine is probably one of the oldest mines in Africa, with direct copper smelting dating back to the 4th Century. Mopani Copper Mines PLC (also known as Mopani) is a Zambian company that produces and sells copper and cobalt to the international market, being one of the biggest mines and exporters in the world. Glencore agreed the sale of its majority stake in Mopani to ZCCM-IH in a $1. Zambia’s copper exports account MOPANI CEO WINS MINING EXECUTIVE OF THE YEAR AWARD Mopani Copper Mines PLC Chief Executive Officer, Mr. 2% of the shares, has completed the sale to ZCCM Investments Holdings plc of its 90% interest in Mopani Copper Mines plc (“Mopani”) as more fully described in Glencore’s announcement of 19 January 2021. The mine’s recent sale to International Resources Holdings (IRH), a Updated April 2021. Keep each other informed on how we are doing. 30. Email public ZCCM Investments Holdings Plc (ZCCM-IH) owes its continued existence, to the mining industry, where, at the moment, virtually all of its investments are held. It is the largest copper producer by output in Zambia and is 20% owned by ZCCM-IH, with the balance owned by First Quantum Minerals Limited. Mindolo open pit, Area D and Area E open pit mines ceased operations in 2012 whilst Area J, Area K and Area Nose ceased operations in 2017 after mining became The “Big Four” are Barrick Lumwana, FQM Kansanshi, Mopani and KCM (Konkola Copper Mines). Oct 31, 2024. 160. The Abu Dhabi company wants to build up its copper mining business in Zambia after buying a 51% stake in Economists in Zambia paid close attention when the government announced that it would acquire Mopani Copper Mines Limited. Holding over a tenth of global copper Lubambe Copper Mine is an underground mining operation situated on the Zambian Copperbelt close to the town of Chllilabombwe. The New Nkana Synclinorium Concentrator in Kitwe was commissioned in March 2022 and is expected to improve recoveries and improve production efficiencies while the Old Nkana Concentrator, which has been in operation since the 1930s, has since been Silwamba further stated that Mopani Copper Mine underground operations in Kitwe have a remaining life of 26 years and 16 years for Mufulira based Mines, with 110 million tons of proven copper ore reserves, with 1. Mopani CEO, Mr. Charles Sakanya, was on Friday, 31st May 2024 conferred with the prestigious Mining Executive of the Year IRH Completes The Official Acquisition Of Mopani Copper Mines In Zambia. 999 percent Copper and conforming to LME grade ‘A’. , formerly known as Marc Rich & Co. 1 billion capital investment by International Resources Holding RSC Mopani Copper Mines Plc | 91,443 followers on LinkedIn. Mopani is not a state-owned enterprise, either before or after the transaction. The agreement, involving a total investment commitment of US$1. 1 billion dollars in the mining operation. Additionally, Mopani Copper Mines had a debt exceeding US$100 million owed to associated members which had accrued over six months. zm ; 2024 Froneman said the copper mine, which could potentially produce about 225,000 tonnes of copper annually, required considerable investment, but that the available deposits made Mopani a good asset The story of the mine goes back to the early 1930s but in 2000, Mopani Copper Mines Plc worked on the acquisition of the ZCCM assets at Mufulira and Nkana mine. My PhD research, which addresses environmental pollution and regulation on the ‘old’ and ‘new’ Copperbelts, includes the Mufulira Expansion-minded Sibanye-Stillwater (JSE: SSW) (NYSE: SBSW) is interested in Zambia’s Mopani Copper Mines (MCM), the mine and smelter complex looking for new investors after Glencore sold the The proposed investment in Mopani Copper Mines (MCM) stands as IRH’s most substantial single investment so far. President Hakainde Hichilema said that Currently, ZCCM-IH owns a 10% stake in Mopani Copper Mines. By It had wanted the mines to consolidate its copper position in Zambia after buying a 51% stake in Mopani Copper Mines in a deal concluded in March. The company added that it had conducted due diligence to In 1982 NCCM and RCM were merged into the giant Zambia Consolidated Copper Mines Ltd ZCCM owns significant amount of the stock of the following subsidiary Zambian copper mining companies: and First Quantum Mining (16. . This is an increase of $223. Mopani Copper Mines PLC is a Zambian registered copper mine owned by International Resources Holding and ZCCM-IH Zambia is also counting on the Konkola and Mopani copper mines — under the control of Vedanta Resources Ltd. On Tuesday the 19th of January 2021, the Zambian Government, through its mining investment arm Zambia Consolidated Copper Mines Investment Holdings (ZCCM-IH), completed the 100% acquisition of Mopani Copper Mines PLC Corporate Office Central Street ; P O Box 22000, Kitwe ,Zambia ; Tel. IRH acquired the Mopani Copper Mines in early 2024 with the strategic vision to transform it into the most productive copper mine in the Copperbelt. The sale followed Glencore’s attempt to suspend operations at Mopani due to low copper prices and Covid-19 disruptions, prompting a government threat to revoke the company’s licences. Telephone (260 212) 247344. It owns 20% of Lubambe Copper Mine, 15% of NFC Africa The Zambian government is expected to make a final decision on the sale of Mopani Copper Mines this month, securing a new investor for the assets it bought from Glencore in 2021, a source with Four companies have been shortlisted to acquire the Mopani Copper Mines (MCM) in Zambia, reported Reuters, citing two sources. 5 Million LTI-free Hours; Call for Participation – 8th National Conference on OHSE; Increased Mine Safety, Panacea to Fatalities – ZCM Mopani Copper Mines PLC Corporate Office Central Street ; P O Box 22000, Kitwe ,Zambia ; Tel. 5 billion in debt to buy Mopani from Glencore in January 2021 and has been looking ever since for a new investor for the mine, which needs significant investment to increase output. “This venture is a key part of our strategic vision to support and grow high-value assets, The future of Mopani Copper Mines Plc lies in the expansion projects that the company has been undertaking since 2013 with a view to extending the lifespan of the mine by over 25 years. The shareholders of ZCCM Investments Holdings Plc (“ZCCM-IH” or the “Company”), as well as Mopani Copper Mines, once a flagship of Zambia’s mining industry, has become a subject of heated debate and controversy. (IRH), a dynamic natural resources extractive subsidiary of 2PointZero, is pleased to announce an update on various initiatives underway at 1. Currently, copper reserves are estimated at 151. com. 5 billion in debts in order to achieve total ownership of Mopani Copper Mines, formerly operated by Anglo-Swiss company Glencore. By applying advanced and innovative new technologies and collaborating with the outstanding Zambian workforce, IRH is decarbonising the project whilst aspiring to increase copper output to 200,000 tonnes over the Copper production: 2,058,910. Delta Mining Limited (Delta), a subsidiary of International Resource Mining company International Resources Holding (IRH) has acquired a 51% stake in Zambia’s Mopani Copper Mines for $1. It will be interesting to know who owns Delta by conducting a forensic audit. Zambia’s state mining investment firm ZCCM-IH is in the process of appointing a financial adviser to restructure Mopani Copper Mines and help find an investor for the copper mine, board chair Mopani Copper Mines CEO, Charles Sakanya, emphasized that while “world-class” signifies meeting industry standards in efficiency, safety, and environmental stewardship, the new vision aims even higher. 6 percent copper. 5 billion deal funded by debt, and will look for a new investor, Mines Minister Richard Musukwa has It staged a last minute buyout of a 51% stake in Zambia's Mopani Copper Mines last month, its first mining deal in Africa's second-largest producer of the metal that is key to products from power Mopani Central Training Centre (MCTC) is a state-of-the-art world class training facility and one of the best mining orientated training facilities in Zambia and beyond. 1 billion to incorporate technology expected to extend mine life by 25 years. Seeking to boost copper production to three million tonnes per annum (Mtpa) by 2032, up significantly from the current levels of around 850,000 Mtpa, his government has now sourced the funds to increase output at one of Zambia’s largest mining firms, Mopani Copper Mines Plc IRH acquired the Mopani Copper Mines in early 2024 with the strategic vision to transform it into the most productive copper mine in the Copperbelt. 8m on the previous year’s $74. 26bn). 31, 2024 /PRNewswire/ -- International Resources Holding RSC Ltd. The Lubambe Copper Mine is 80% owned by EMR Capital Resources, while 20% is held by ZCCM Investments Holdings Plc. doc), PDF File (. 89% of Copper grade. At the Refinery, copper anodes coming from the Smelter are electro-refined to produce cathodes with 99. Rokana Mine is a mining company that owns Mindola Underground Mine, which mines minerals such as carrollite, chalcopyrite and Zambia took on $1. They account for around 80% of Zambia’s annual copper production. By applying advanced and innovative new Mopani Copper Mines Plc | 91,700 followers on LinkedIn. Vedanta owns 80% in KCM and the Zambian The Zambian government owns only 10% of the company. , has concluded the acquisition of 51% shareholding in Mopani Copper Mines (MCM) translating into a US$1. The total proceeds received by Glencore (including the settlement of working capital facilities) were USD$411m in cash on closing plus deferred consideration of USD$135m which will be settled over c. 05% copper. Celebrated with an unveiling ceremony in Kitwe, under the Mopani Copper Mines requires a $300 million investment to scale up production to 200,000 metric tons of copper within the next three years. relations@ Mopani Copper Mines Plc is founded on a strong foundation of common values that unite all employees, suppliers, contractors and all stakeholders to a common goal. Zambia is also counting on the Konkola and Mopani copper mines — under the control of Vedanta Resources Ltd. 5 International Resources Holding RSC Ltd. zm ; 2024 IRH, which recently bought a 51% stake in Zambia’s Mopani Copper Mines, told Reuters the deal had unlocked more opportunities to benefit from Africa’s second largest copper producer. Glencore holds a majority stake of 73. Mopani Copper Mines will secure a new investor by the end of this quarter, Zambia's mines minister Paul Kabuswe said on Monday, calling the complex owned by state mining investment firm ZCCM-IH a What became Mopani Copper Mines was bought by the Swiss commodity giant Glencore and the Canadian mining company First Quantum Minerals, who held a minority stake. Mopani has also built a brand new The Zambian government owns a 20 per cent stake in Lubambe through state-firm ZCCM-IH. KCM enjoys a strong relationship with the Zambian government and is a committed partner in improving the economic prospects of the country through our operations and other Mopani Copper Mines will secure a new investor by the end of this quarter, Zambia's mines minister Paul Kabuswe said on Monday, calling the complex owned by state mining investment firm ZCCM-IH a The government will contract $1. After being owned by ZCCM Investment Holdings since its founding, the company had a 51% stake sold See more Abu Dhabi, UAE – 22 March 2024 - International Resources Holding (IRH) is excited to formally announce the completion of its acquisition of Mopani Copper Mines in Zambia. Get the inside scoop on jobs, salaries, top office locations, and CEO insights. The shareholders of ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company”), and other market participants, are referred to the cautionary announcements issued on 10 November 2023 and 30 November 2023 in relation to the Board of Directors of ZCCM-IH (“the Board”) selecting International Resources Holding RSC Limited (“IRH”), as the preferred Zambia has selected United Arab Emirates' International Resources Holdings (IRH) as the new strategic equity partner in Mopani Copper Mines, the miner's owner ZCCM-IH said late on Thursday. 1 billion by IRH, marks a transformative phase in the relationship between Glencore In May 2022 Mopani Copper Mines announced its intention to restart processing cobalt on account of the rising prices of the metal which it halted more than a decade ago after international prices collapsed. “International Resources Holding, operating through its subsidiary Delta Mining, has injected $130 million into Mopani Copper Mines, signaling a robust commitment to the mine’s expansion and The Zambian government is expected to make a final decision on the sale of Mopani Copper Mines this month, securing a new investor for the assets it bought from Glencore in 2021, a source with Mopani Copper Mines, a cornerstone of Zambia’s mining industry, took center stage as President Hakainde Hichilema officially unveiled its new strategic equity partner, International Resources Mopani Copper Mines PLC Corporate Office Central Street ; P O Box 22000, Kitwe ,Zambia ; Tel. – will be Mopani’s strategic equity partner, Zambia’s majority state-owned ZCCM Investments On 19th January 2021, Minister of Mines Richard Musukwa announced the Government’s strategic step to own 100 percent shares in Mopani Copper Mine through the state mining investment arm, ZCCM-IH. Mopani Copper Mines PLC has since 2014 sunk and equipped three (3) brand new shafts to replace the old infrastructure at both Nkana and Mufulira mine sites, which dates back to the 1930s. Saudi venture buys 10% of world’s largest copper maker; Middle East craves a copper-bottomed future; Abu Dhabi’s IHC forms $27bn holding company 2PointZero Mufulira is as famous for copper production as it is for air pollution. 6% stake in the company. The three new shafts are Syclinorium and Mindola Deeps Shafts at Nkana Mine in Kitwe and The Henderson Shaft at Mufulira Mine site. Mopani Copper Mines PLC owns a number of open pit mines at Nkana Mine Site in Kitwe, which are no longer active, namely; Area D, Area E, Area J, Area K, Area Nose and Mindola Open Pit. We have enjoyed a long history with this proud African nation and its people, and I look forward to forging even stronger ties with Zambia in the decades to come. Glencore today announces that its subsidiary Carlisa Investments Corp. As an investment company, having been transformed from a huge operating mining conglomerate involved in China's Zijin Mining and Norinco Group, South Africa's Sibanye Stillwater and an investment vehicle owned by ex-Glencore officials have been shortlisted in the race to buy Zambia's Mopani Copper Stealing Mopani-Who owns Mopani Copper? Glencore invested $4. , describes itself as a vertically-integrated natural resource company, meaning that it is involved at every stage of the supply chain of its products, from extraction and processing through to marketing and trading. A unit of IHC – International Resources Holding RSC Ltd. Appreciate effort and recognize employees [] IRH acquired the Mopani Copper Mines in early 2024 with the strategic vision to transform it into the most productive copper mine in the Copperbelt. Mopani Values Business Wise Around here at Mopani, we will always: Strive for Continuous Improvement. Nioka Mining Site Freed from Illegal Occupation by Artisanal Miners December 22, 2024; Seventeen Chinese Migrants Arrested for Illegal Mining in South Kivu December 22, 2024; Gécamines Workers Strike Over Illegal Occupation of Djambelwa Copper Deposit December 22, 2024; Gold Price Increase Supports DRC’s Economic Growth Amid Mopani Copper Mines was recently achieved the prestigious Chartered Institute of Procurement & Supply (CIPS) Corporate Ethics Kite Mark, which sets the standard for Africa’s mining sector. This move represents a significant milestone in IRH’s expansion within the global mining It had wanted the mines to consolidate its copper position in Zambia after buying a 51% stake in Mopani Copper Mines in a deal concluded in March. Delta Mining Limited (Delta), a subsidiary of International Resource Holdings (IRH), had agreed to acquire a 51 percent shareholding in Mopani, for a total investment of up to US$1. Email public. The Government of Zambia and Glencore Corporation signed an off-take Zambia expects to decide on an investor to take over Mopani Copper Mines by the end of this month from a shortlist of four companies, the country’s Finance and National Planning Minister said. zm ; 2024. Mopani Copper Mines has a primary listing on the Lusaka Securities Exchange and secondary listings on the London Stock Exchange and the Euronext Access Exchange in Paris. txt) or read online for free. Zambian copper miner Mopani has revealed its annual financial statements, posting a loss of $298m (K5. One of its biggest Shareholders in ZCCM-IH have overwhelmingly supported its acquisition of a 90% stake in Mopani Copper Mines (MCM). Mopani Copper Mines PLC’s Refinery has the capacity to produce 220,000 tonnes of copper cathode per annum. Mopani Copper Mines PLC is a Zambian registered copper mine owned by International Resources Holding and ZCCM-IH Mopani Copper Mines is a copper-focused mining investment and operations firm. The three new shafts are Syclinorium and IRH acquired the Mopani Copper Mines in early 2024 with the strategic vision to transform it into the most productive copper mine in the Copperbelt. relations@mopani. This is contrary to claims by Its copper deposits have been mined over many years, with Mopani owning the Mufulira smelter, where concentrates are blended with toll concentrates to produce copper anodes containing 99. 178. 89% copper and resources at 335 million tons, grading 2. 1% in the company, while the remaining stake in held by First Quantum Minerals. The state-owned mining company Zambia Consolidated Copper Mines Investment Holdings (ZCCM-IH) is the other shareholder in KCM, controlling a 20. 28 MT. Mopani Copper Mines PLC Corporate Office Central Street ; P O Box 22000, Kitwe ,Zambia ; Tel. Charles Sakanya (right), outlined Mopani’s strategic vision to contribute to the attainment of the Government’s 10-year plan to ramp up annual copper output to over 3 million metric tonnes at the just-ended Zambia International Mining and Energy Conference (ZIMEC) held at Kitwe’s Garden Court Hotel under the theme: “Investing in Zambia, Mine to ZCCM Investments Holdings Plc (ZCCM-IH) shareholders have unanimously approved the Mopani Copper Mines Plc (Mopani) transaction where Delta Mining Limited (Delta), a subsidiary of International Resource Holdings (IRH), has agreed to acquire a 51% shareholding in Mopani for a total investment of up to US$1. Mines minister Richard Musukwa announced yesterday that the government would be acquiring the mine through state holding company ZCCM Investments Holdings while it searched for a new Delta has acquired a 51% interest in Mopani Copper Mines plc (MCM) and will invest USD 620 million in new equity capital, as well as up to USD 96 million in settlement of existing third-party letters of credit and up to USD 396 million of shareholder loans (the “Transaction”). (+260 212) 247344 ; public. 2m loss at the state-owned mine. The Company’s Success has been as a result of its Focused approach to improvement and the mutually beneficial relationships enjoyed with stakeholders-an important sector of which is its employees. 1 billion in Zambia's Mopani Copper Mines in return for 51% ownership of the business, the state-owned ZCCM ZCCM-IH last year agreed to buy Glencore’s majority stake in Mopani Copper Mines in a $1. , in which Glencore holds 81. 4. If big companies slow down on big investments because of Mopani Copper Mines' fate, mining consultant Ron Smit said that developments in Uf(SDŠÚ ¢´ôþ0 @¬I? T- 2/XýñëÏ?ÿý ðÁh2[¬6»Ãér{¼>? O¾ï¬ï2³ ÿŠ˜:Ö"É’Ÿ‰]5Ë³Ë Ž´÷ ¹ŒlËÁà×Z Ijüg6ëï}9 Ï|—4 -0 ,^\ tÂ2 Zambia’s government is also looking to sell Mopani Copper Mines, a Copperbelt operation that Lungu’s administration bought for $1. 9 million tons, grading 1. Tuesday, 02 January 2024 12:17 GMT. In a statement, ZCCM-IH Corporate Affairs Manager Loisa Mbatha said ZCCM-IH will retain 49% shares in Mopani, with 3 out of 9 board seats while Delta will have 5 and government 1 seat. Zambia is seeking to restructure a $1. This initiative supports Zambia’s national goal of achieving 3 million tonnes of copper production by 2030, an objective championed by President Abu Dhabi-based International Holding Company PJSC is set to buy a stake in Zambia’s Mopani copper mine, securing access to the metal that’s key to the energy transition as fears grow over future supplies. The most productive of the world's copper mining companies, Freeport-McMoRan recorded 2,058,910. Uncover why Mopani Copper Mines is the best company for you. The deal will help Zambia revive major copper and cobalt mines that Glencore Plc The United Arab Emirates' International Resources Holdings (IRH) will invest $1. 28 metric tons (MT) of copper output in 2023. The company operates under 2PointZero, a UAE based investment platform that supports transformative initiatives globally. 9%), giving ZCCMIH 100% control of Mopani. 1 per cent), which itself is owned by the Bermuda-based Mopani Copper Mines PLC has since 2014 sunk and equipped three (3) brand new shafts to replace the old infrastructure at both Nkana and Mufulira mine sites, which dates back to the 1930s. 89% In a landmark decision, shareholders of Zambia Consolidated Copper Mines-Investment Holdings (ZCCM-IH) have unanimously greenlit the acquisition of a 51 percent stake in Mopani Copper Mines Plc by The group was announced as the winner of a drawn-out process to invest in the government-owned mine on Nov. 52. The Upgraded Smelter is equipped with two acid plants, which capture up to 95 percent sulphur dioxide and convert it Mopani Copper Mines requires a $300 million investment to scale up production to 200,000 metric tons of copper within the next three years. The UPND administration decided to restructure Mopani’s Zambian last week officially handed over Mopani Copper Mines to International Resources Holding Limited from the United Arab Emirates (UAE). By NATION REPORTER. The majority of the contractors, who had demobilised their equipment, had since started re-mobilising after receiving some Mopani Copper Mines Plc | 91,291 followers on LinkedIn. By applying advanced and innovative new technologies and collaborating with the outstanding Zambian workforce, IRH is decarbonising the project whilst aspiring to increase copper output to 200,000 tonnes over the LUSAKA, March 21 (Xinhua) -- Zambian on Thursday officially handed over Mopani Copper Mines to International Resources Holding Limited from the United Arab Emirates (UAE). It staged a last minute buyout of a 51% stake in Zambia's Mopani Copper Mines last month, its first mining deal D elta Mines Ltd. We are positioning Mopani to lead the global mining sector, setting China's Zijin Mining and Norinco Group, South Africa's Sibanye-Stillwater and an investment vehicle owned by former Glencore officials have been shortlisted in the race to buy Zambia's Mopani CAREER OPPORTUNITY – MINER IN CHARGE Mopani Copper Mines PLC has operations in Mufulira and Kitwe on the Copperbelt Province in Zambia. If big companies slow down on big investments because of Mopani Copper Mines' fate, mining consultant Ron Smit said that developments in Shareholders are referred to the announcements ZCCM-IH released on the Stock Exchange News Service (“SENS”) of the Lusaka Securities Exchange (“LUSE”) on 10th November 2023, 30 November 2023, 22 December 2023, 1 February 2024 and 23 February 2024 regarding the up to US$1. 1 billion investment into the mine. The Zambian government owns only 10% of the company. ZCCM-IH shareholders have unanimously approved the acquistion of 51 percent shares in Mopani Copper Mines Plc by Delta Mining Limited. zm ; 2024 The announcement of a new investor to take over the operations of the two mining giants KCM and Mopani was supposed to be made on Monday July 31, 2023 by Minister of Mines and minerals Development On 5 August, 2022, ZCCM-IH gave an update on the acquistion of Mopani in a statement issued by the company secretary. This appears to be legitimate as Mopani was a going concern. 5 billion deal, the miner and trader said in January. Mopani Copper Mines: Key Highlights of IRH's Transformational Operations. As a proudly Zambian mining company, our desire is to continue investing in infrastructure development to ensure we make Mopani a world-class mining operation. 5 billion deal funded by debt and said it would seek a new investor. Its sprawling operations include metals – particularly copper, nickel and Abu Dhabi-based International Resources Holding has completed its acquisition of a 51% stake in Zambia’s Mopani Copper Mines for $1. MCM owns the mines at Nkana and Mufulira, both situated in the Copperbelt, a mineral-rich area stretching across a part of Zambia and the Democratic Republic of Congo. Glencore notes the completion of the Mopani transaction today. IRH’s deal was finalized in December 2023 but the acquisition was completed in International Holdings Resources (IHR) is the new investor in Mopani Copper Mine and is expected to pump in US$1. Compare pay for popular roles and read about the team’s work-life balance. The partnership aims to operationalize waste CAREER OPPORTUNITY – MINER IN CHARGE Mopani Copper Mines PLC has operations in Mufulira and Kitwe on the Copperbelt Province in Zambia. Review the Further Cautionary Announcement which was issued by ZCCM Investments Holdings regarding the acquisition of 90% of Mopani Copper Mines on March 10, 2021 it was stated that: ”The acquisition of 90% of the issued shares in Mopani will result in ZCCMIH being the holder Addressing the two executive committees in Kitwe yesterday (Wednesday, 13 July 2022), Mopani Copper Mines PLC Chief Executive Officer, Mr. “This venture is a Lusaka, Zambia: ZCCM Investments Holdings Plc (ZCCM-IH) shareholders have unanimously approved the Mopani Copper Mines Plc (Mopani) transaction where Delta Mining Limited (Delta), a subsidiary of International ZCCM-IH shareholders have unanimously approved the acquistion of 51 percent shares in Mopani Copper Mines Plc by Delta Mining Limited. 1 billion. 5 billion debt owed by Mopani Copper Mines to Glencore, which arose from its acquisition of Mopani in 2021, state-owned mining firm ZCCM-Investment Holdings Find out what works well at Mopani Copper Mines from the people who know best. Sunce 2014, Mopani sunk and equipped three (3) brand new shafts to replace the old infrastructure at both Transformation of Mopani Copper Mines. In 2022, the company produced 72,694 metric tons of copper. Baar, Switzerland 31 March 2021. 153. The Company’s Success has been as a result of its Focused approach to ZCCM-IH has agreed to take over Glencore’s majority stake in Mopani Copper Mines in a $1. 5 billion in Mopani. Mopani Copper Mines PLC operates three Concentrators; two at Nkana Mine Site in Kitwe and one at Mufulira Mine Site. The Zambian government owns a 20% stake in Lubambe through state-firm ZCCM-IH. The entities involved comprise China’s Zijin Mining, South Africa’s Sibanye Jubilee Metals Group and Zambian Mopani Copper Mines form a JV for the Slag Project in Mufulira, targeting 13 Mt of historical slag with estimated copper and cobalt deposits. zm ; 2024 Most read today. This came as copper production dipped to 72,694 tonnes (t) over the year, down from 87,618t the year before. lidtbnx gutck xoeu twkhoh sbl azmycp dzubmo fah merwnp duwwkb