Commodities trader Glencore set to sell its stake in Mopani Copper to ZCCM-IH

ZAMBIA – Glencore, a commodities trader, is set to sell its entire stake (73.1%) in Mopani Copper Mines (MCM) to the Zambian Government’s mining investment unit ZCCM-IH. Mopani Copper Mines (MCM) is currently 73.1% owned by Glencore, 16.9% by First Quantum Minerals and the remaining 10% by ZCCM-IH. The latest news comes as the commodities major doesn’t want to just become a minority stakeholder of MCM. On 25 August, Zambian Mines Minister Richard Musukwa had said that the Government and Glencore are at ‘cross purposes’ over MCM and announced that…

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