Latest News. A press query emailed to Mopani corporate affairs seeking confirmation of the turn of events, through Public Relations Manager Nebert Mulenga last Tuesday remained unanswered by press time. Deposit Type Stratabound (SMS) Once fully up and running, the mines should produce about 140,000 tons of copper a … Lubambe tables tax changes, concession approvals with under-fire Zambian Govt. Mine Workers Union of Zambia (MUZ) President Joseph Chewe confirmed the accident to … Vedanta founder Agarwal takes grip over Gamsberg saying firm committed to expansion, Miners withhold $2bn in expansion capital from Zambia owing to double taxation ‘regime’, Afritin banking on interruption-free ramp-up at Uis, and tin price playing ball, Orion Minerals issues shares to pay for resumption of Northern Cape exploration, Ramaphosa economic recovery plan light on private sector foreign investment, Glencore in talks to sell nickel to carmakers, says CEO Ivan Glasenberg, Sibanye-Stillwater says “downstream exposure” will be part of battery metals deal. Meanwhile Chishimba Kambwili has urged the government to show leadership in the Mopani impasse. Would love your thoughts, please comment. Mopani Copper Mines Plc is a Zambian registered copper mine owned by ZCCM-IH (10%), Glencore Plc (73.1%) & First Quantum Minerals Ltd (16.9%). Some 11,000 employees would be affected by a possible closure, although Glencore said as per Mopani Copper’s original mothballing plan that employees would continue to be paid and receive staff benefits. (Kitco News) - Glencore has been locked in a bitter dispute with the other owners of the mine its plan to mothball Mopani’s operations. 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 … “The Q1 production figures were fine, with production in key copper, coal and zinc divisions tracking at 26%, 27% and 26% vs our estimates, which include at least one month of shutdown across all operations,” said Barclays in a report. Sources said the ongoing audit exercise by Grit Consulting, commissioned by Glencore, was influenced by fatalities at Mopani’s Nkana and Mufulira operations at the beginning of this year. Mopani Copper, in which Glencore has a 75% stake, drew the anger of the Zambian government last month when it announced plans to mothball production, forecast earlier this year to be 50,000 to 70,000 tons of copper. But it’s unclear how the cash-strapped government, which last week defaulted on a Eurobond interest payment, would finance a deal. Mufulira smelter, Mopani Copper Mines. % and 26% vs our estimates, which include at least one month of shutdown across all operations,” said Barclays in a report. . Mopani Copper Mines Plc is a Zambian registered copper mine owned by ZCCM-IH (10%), Glencore Plc (73.1%) and First Quantum Minerals Ltd (16.9%). Glencore's stake in Mopani is worth $514.6 million, according to its own valuation. Z ambia expects to conclude talks over buying Glencore Plc’s stake in Mopani Copper Mines Plc within a month, according to Barnaby Mulenga, permanent secretary in the Ministry of Mines.. Mulenga declined to disclose the size of the stake that state-owned ZCCM Investments Holdings is trying to acquire. Glencore last year mothballed its Mutanda assets in the Democratic Republic of Congo (DRC) which guaranteed lower production year-on-year from the division in 2020. A major hurdle to clinching the deal is Zambia's lack of funds to pay for the stake and fund the mine's running costs, sources say. Westerman, who is overseeing the operations of Mopani as executive director, will also hand over to Bullock at the end of this month. Mopani Copper. -. By. Cobalt production from the African assets would be about 5,300 tons compared to previous guidance of 9,900 tons. 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