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Once fully up and running, the mines should produce about 140,000 tons of copper … 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’s Zambia mining unit completes refinery upgrade. Still, Mopani was unprofitable even before the coronavirus pandemic led to a collapse in the copper price, convincing Glencore that its best option was to mothball the mines … “As of now, we are discussing a potential sale of their stake in Mopani,” said one of the sources. In 2018, we paid more than USD84 milion in taxes, royalties and other payments to government. Box 22000 Kitwe, Zambia 1.3 Telephone Number of Developer +260 2 247000/247002 1.4 Fax Number and Electronic Mail Address +260 2 220725 mopani@mopani.com.zm 1.5 Name of Owner of Mine Mopani Copper Mines Plc, Comprising The Following: Name Shareholding Glencore International … Zambia News; Govt rejects Mopani Copper Mines’ plans to place the mine under care & maintenance. Mopani Moves Towards Placing Mines On Care And Maintenance, Zambia Records Reduction In Road Traffic Accidents, ‘Ba President baleikala apaweme, lelo ine ndeikala mung’anda iileloka no umutenge utobeke’, Inequality may deter Zambia from meeting Social Economic Development-Charity Musamba. “Following Mopani’s recent announcement regarding the transition of its mining operations to care and maintenance, Glencore is currently in discussions on the way forward with the Government of Zambia,” it said. This is just politicking . Zambia could win its bid to buy the Mopani Copper Mine stake from Glencore. Between the year 2000 and today, the price of Copper has fluctuated from as low as US$2000 to US$9900 per tonne. 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 … Dec 15, 2020 @ 18:17 More news Steel. Talks as laid out in today’s announcement may include potential improvements that the Zambian government could make to its mining sector’s regulatory environment. Zambia said on Tuesday that Glencore has declared “force majeure” and will shut its copper mines in the country, adding that the government would block the move which would result in 11,000 people losing their jobs.. Mines Minister Richard Musukwa said Glencore plans to put its Mopani Copper Mines (MCM) operations under “care and maintenance” for three months from Tuesday as … Kitco News. File picture: Ahmad Masood. Tragically, the lives of three employees were lost after a loader caught fire,” he stated. Mopani Copper Mines Plc has laid off a total of 131 employees, including 15 expatriates, who were made redundant as a result of the closure of the Central and North Shafts. Zambia’s Mopani Copper Mines (MCM), majority owned by London-listed Glencore, will delay the construction of a planned copper processing plant until the government pays it $300 million the firm says it is owed in value added tax (VAT)... Read More. Metso Outotec sells aluminium business to REEL International . Mopani Copper Mines has declared a Force Majeura citing the effects of Covid 19 and the drop of copper prices which declaration was rejected by the Zambian government and sternly warned Mopani that they will face the full force of the law should they go ahead and place the mine on care and maintenance. What about on Jet Stores? Association of mine suppliers and contractors –AMSC- president, Augustine Mubanga has confirmed to phoenix news of having received the letter from Mopani copper Mines which he says is inappropriate. Mopani, which produced 119,000 tonnes of copper in 2018, is 73.1% owned by Glencore, 16.9% by First Quantum Minerals and 10% by ZCCM-IH. We have invested more than $1 billion in the Mopani mine since 2014 – extending its life by a further 25 to 30 years. IN CASE YOU MISSED IT: 5 key stories from December 15. According to reuters, global mining company Glencore’s Zambian unit Mopani Copper Mines (MCM) made the announcement in a statement. He stated that the price of copper per tonne has been fluctuating for many years. Mpinane Senkhane | May 21, 2015. 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 ZCCM-IH. Mopani Mine to lay off 600 workers Over 600 Mopani Copper Mines employees will be laid off next month following the announcement by the mining company to cease operations at Mindola North Shaft and Central Shaft. 16 April 2020 05:21 The PF government last evening detained Mopani Copper Mine CEO as he tried to leave the country . Mines Minister Richard Musukwa said at a briefing this morning that Mopani’s majority shareholder, Glencore, had informed him of the decision via a video conference that the decision was caused by falling copper prices and disruptions in international mobility. Glencore’s decision to halt production at Mopani adds to a list of copper mines that are either operating at reduced capacity or have been taken offline. 54. Latest News News. This is according to a letter to Mopani Copper Mines, Chief Executive Officer, Nathan Bullock from Mining Licensing Committee Secretary Micheal Chibonga and made available to ZNBC News. Save my name, email, and website in this browser for the next time I comment. Take ownership for driving your own career development by participating in ongoing training and development activities such as conferences, workshops, etc. And since we acquired Mopani in 2000, our investments total more than $4.4bn. Mopani says it will go ahead and place its Nkaka and Mufulira mines on care and maintenance with effect from today. Glencore will reverse its earlier decision to shut its Zambia subsidiary Mopani Copper Mines if it reaches an agreement with the Zambian government, the company said on Monday. Latest News News. Minority shareholders are spread throughout the world, in various locations. From the time Danny Carlow officially resigned from Glencore, an unexplainable … Share this post. Another reason cited was the challenge of COVID-19 in terms of putting projects on hold until key personnel can travel to the mining sites,” Mr. Musukwa said. Lungu Wins Tight Presidential Election; ECL 1, 860, 877 Hichilema 1, 760, 347, Muvi TV & Komboni Radio Licences Revoked For Alleged Misconduct, Pres. Sign up here! “The Ministry has studied both the letter from MCM and the oral submissions during the Video conference submission and wish to react as follows: The Government of the Republic of Zambia Rejects this attempt by Mopani to put the Mines in Kitwe and Mufulira on CARE AND MAINTENANCE because it does not conform with the Law. “MCM came to Zambia in the year 2000. Prices rose from USD0.75 per pound to USD1.00 per pound during 2003 and then soared to USD3.96 per pound by April 2008. The shaft, which when completed by next year … Read More » MOPANI PROMOTES SAFE MINING. The Zambian government seeks to block Glencore PLC's attempt to close its Mopani Copper Mines PLC operation and dismiss 11,000 workers, with Mines Minister Richard Musukwa saying the plan is against the law and unjustified despite coronavirus-related disruptions, Reuters reported. Glencore Plc, a British–Swiss multinational commodity trading and mining company, is massively restructuring its Zambian subsidiary, Mopani Copper Mines Plc, with the termination of acting chief executive officer John Chiwele’s employment contract. The buyer would be ZCCM-IH, Zambia’s state-owned mining company which … In April 2000, Mopani purchased assets of the Zambia Consolidated Copper Mines Limited (ZCCM) comprising underground mines, a concentrator, a smelter and a refinery at Mufulira mine site and underground mines… The company is in the process of spending billions of dollars at Mopani to sink new shafts. Latest News: Zambia Sees Deal With Glencore Over Mopani Within a Month November 16, 2020: Owners & OPERATOR. He has told ZNBC News in Kitwe that there is no justification for Mopani to claim any losses owing to the revised tariffs because the copper prices are up and the mining firm is operating profitably. He stated that the letter claimed that the company had taken the action pursuant to section 37(1)(d) of the Mines and Minerals Development Act which provides for closure of a mine based on Force Majeure. on Mopani Moves Towards Placing Mines On Care And Maintenance. Dec 15, 2020 @ 21:44 LIVE FUTURES REPORT 15/12: Copper, lead rise; nickel fails to hold at new 2020 high. Nevada Copper installs materials handling system at Pumpkin Hollow project in US . GOVERNMENT should provide the required relief to Mopani Copper Mines (MCM) and other mining companies to save jobs during the COVID-19 period, the unions have demanded. 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%). 5 days. The Glencore Executive Director informed me that the Company was going on ‘Care and Maintenance’ from Tuesday 7th April 2020 for 3 months citing 2 reasons … A Glencore spokesman declined to comment. ZCCM-IH currently has 10% of Mopani, with Glencore holding 73.1% and Vancouver … Is concerned citizen a njikalafye or just a cadre? Mopani Copper Mines Plc, a unit of global commodity trader and Switzerland based Glencore Xstrata has in earnest stepped up efforts to complete the much awaited US$323 million Synclinorium Shaft at the Company’s Nkana mine in Kitwe to elongate the mine’s lifespan. FDD Spokesperson Yotam Mtayachalo says the move will enable the country to derive maximum benefits from its mineral wealth and safeguard jobs for Zambian mine workers. Mine workers in the Copper belt. Source: Company Interest Ownership; ZCCM Investments Holdings Plc. Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. A further indication was made that an ex-gratia payment of one month’s salary would be made to unionized staff employed by contractors in addition to some severance package. Zambia News; Editor’s Choice; Letters to Editor; About; Advertise ; Racism continues running Mopani Copper mine. Zambia's Mopani Copper Mines (MCM) has shut down its Mufulira smelter for major refurbishment, the Glencore-owned company said on Monday. “Yesterday on Monday 6th April 2020 at 14hrs, we held a video conference involving Glencore Head of Copper Africa Mark Davies, Nathan Bullock CEO Mopani Copper Mine (MCM), with myself and our respective technocrats. Named after the Spanish for ‘hidden’, Escondida is a copper mine located Atacama Desert in Northern Chile and is the world’s largest copper mine by output. Where is Labour Minister, have owners paid off employees benefits? Copper mining company Mopani Copper Mines plc said on Tuesday that it had placed its mining operations on care and maintenance and a number of projects on hold. Between the year 2000 and today, the price of Copper has fluctuated from as low as US$2000 to US$9900 per tonne. Mines minister, Richard Musukwa threatened to have Mopani Copper’s mining licence suspended, adding that the move was unjustifiable and illegal. Required fields are marked *. Where is Minister of Commerce, does PF government care about job losses in this sector? Your email address will not be published. Copper pricing. Latest News; Business; Entertainment; Sports; Search for: Technocrats set up base at Mopani. Glencore’s decision to halt production at Mopani adds to a list of copper mines that are either operating at reduced capacity or have been taken offline. Mopani… Omars Lunga - April 7, 2020. This is clearly not ‘AN ACT OF GOD’ but a normal business trend,” Mr. Musukwa stated. The Ministry is not aware of any event that has happened that is beyond the reasonable control of MCM and which makes mining impossible,” Mr Musukwa stated. Of now, we paid more than USD84 milion in taxes, royalties and other payments to government on of. $ 4.4bn: 15/12 2000, our Investments total more than USD84 milion in taxes, royalties and payments. A normal business trend, ” Mr. Musukwa stated block Glencore 's plan to Mopani. 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