Glencore wrote off the value of Mopani by $1.14bn in its half-year earnings report earlier this month, saying the estimated recoverable value was $704m, including tax receivables. Zambia intends to revoke the mining licenses of Mopani Copper Mines (MCM), a subsidiary of Glencore, as the firm did not give sufficient notice before suspending its mining operations due to the coronavirus Covid-19 crisis. 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 for three months. Take ownership for driving your own career development by participating in ongoing training and development activities such as conferences, workshops, etc. 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. Three miners have died at Mopani Copper Mines in Kitwe following an accident caused by fire underground at Mindola North Shaft. Enter your email address to subscribe to Zambia News 24 and receive notifications of Latest News via email. A copper mine in Zambia is set to shut down on Wednesday due to disruption brought on by the coronavirus pandemic, reports Reuters news agency. Mopani produced 51,275 tons of finished copper in 2019 including purchased materials – accounting for 13.9% of Glencore’s African copper output and 3.7% of its overall copper output, said Reuters. (Kitco News) - Glencore has been locked in a bitter dispute with the other owners of the mine its plan to mothball Mopani’s operations. According to ZCCM-IH first cautionary announcement issued on September 4, 2020, the holding company has commenced discussions with Glencore Finance (Bermuda) Limited regarding the future of Mopani Copper Mines Plc. TOP NEWS. It then emerged in an article by Reuters that the two sides were in discussions Zambia buying a larger stake. The mines have been troublesome for Glencore, but … The Human Rights Commission has said that it is concerned with the increasing number of health workers testing positive for Coronavirus. The Mopani mines are on the outskirts of Kitwe, a city about 180 miles north of Zambia’s capital, Lusaka. 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. Mopani… Mopani devised a strategy to revitalise the control activities, face the malaria challenge head-on, and gradually stamp out the disease. Mopani produced 51,275 tons of finished copper in 2019 including purchased materials – accounting for 13.9% of Glencore’s African copper output and 3.7% of its overall copper output… Tragically, the lives of three employees were lost after a loader caught fire,” he stated. Mopani is committed to establishing a winning team and a copper and cobalt business it can be proud of. “Mopani Copper Mines Plc is pleased to announce the appointment of the new Chief Executive Officer, Mr Nathan Bullock, who joins the company from BHP Olympic Dam Mine in Australia. 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. Recently, Glencore declared force majeure at its Mopani Copper Mines (MCM) subsidiary in Zambia. Mopani Copper Mines has not been consistent on this issue since the new management came in.” Kambwili asked the government to be aggressive on the matter. When Mopani Copper Mines commenced operations in 2000, the region’s malaria control activities had completely come to a halt, and the disease’s incidence rate had risen to 216 people in a population of 1000. Mineworkers Union of Zambia (MUZ) president Joseph Chewe has confirmed the development in an interview. Mopani Copper Mines has informed all its contractors and suppliers that the mine will only offer a one month contract to each, pending the outcome of the appeal processes against government’s latest rejection of the firm’s proposal to place its mining … And since we acquired Mopani in 2000, our investments total more than $4.4bn. Deposit Type Stratabound (SMS) 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. 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