Who owns mopani copper mines The three new shafts are Syclinorium and Mindola Deeps Shafts at Nkana Mine in Kitwe and The Henderson Shaft at Mufulira Mine site. 1 billion in Mopani Copper Mines. 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 deal will help Zambia revive major copper and cobalt mines that Glencore Plc Mar 12, 2021 · The Zambian government owns only 10% of the company. the EIB: the Mopani copper mine in Zambia. The Lumwana copper mine is a conventional open pit (truck and shovel) operation. Vedanta Resources: Vedanta owns the Konkola Copper Mines (KCM), one of the largest copper producers in Zambia. "IRH's commitment (at Mopani) has opened doors for additional investment opportunities in Zambia, including an intention to bid for a stake in the Mar 18, 2024 · Mufulira complex comprise of an underground mine and mill operation with copper concentrate produced treated at the Mufulira smelter. 5 Million Zambia Mine Engineering Contract JCHX announced on the evening of March 25 that its wholly-owned subsidiary, JCHX Mining Construction Zambia Co. [13] Minority shareholders are spread throughout the world, in various locations. Jun 21, 2024 · Mopani Copper Mines Plc is owned by ZCCM Investment Holdings Plc (ZCCM-IH), a Zambian diversified mining investments and operations company, with listings on the Lusaka Securities Exchange and the London Stock Exchange. There is no information available for this question. The shareholdings that ZCCM-IH has in Zambia’s copper mines is a “free-carry” shareholding. [4] Mopani Copper Mines PLC is 51 percent owned by Delta Mining Limited, a subsidiary of International Resources Holding of the United Arab Emirates and 49 percent ZCCM Investment Holdings PLC, a diversified mining investments and operations holding company of Zambia. Dec 16, 2019 · During the financial year ending 31st December 2018, Mopani Copper Mines (MCM) recorded net revenue of ZMW9. Oct 31, 2024 · mining sector investments ; recapitalization of mopani copper mines plc; following the unveiling of international resource holdings (irh) as a strategic partner for mopani copper mines plc, irh committed to recapitalize the mine by investing about usd1. May 5, 2023 · Mopani Copper Mines Plc is a Zambian registered copper mine owned by ZCCM-IH. “The sale process requires approval from the Zambian government, which is pending and unclear at the moment,” one of the sources said. 1 billion capital investment by International Resources Holding RSC Ltd (“IRH”), through its wholly-owned KCM Konkola Copper Mines m³ Cubic meter MCM Mopani Copper Mines mm millimeter MSEF Matte Settling Electric Furnace MVA Mega-volt-amperes MW Megawatts Nm³/hr Normal cubic meter per hour SO2 Sulphur Dioxide SO 3 Sulphur Trioxide SRK Steffen, Robertson and Kirsten tpa tonnes per annum tpd tones per day In 1982 NCCM and RCM were merged into the giant Zambia Consolidated Copper Mines Ltd (ZCCM). 5 billion from its own cashflows and the repayment is expected to happen well within the remaining life of mine,” Chipata said. However, the concentrator was closed in 1991. Nov 23, 2024 · Analyzing the Mopani Copper Mine Deal, Ministerial Statement Sparks More QuestionsIt seemed wise to provide some background on the topic at the beginning. 9% of Glencore’s African copper output and 3. 1 billion. Sep 5, 2023 · The government, which seeks to triple copper output over the decade, is also searching for a new investor for Mopani Copper Mines. Dec 23, 2023 · 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). 46%. Dec 25, 2023 · On Friday (22/12), Zambia's state-owned ZCCM Investments Holdings (ZCCM-IH) announced that the United Arab Emirates' International Resources Holdings (IRH) is set to invest a significant $1. 9%, respectively. 5bn. 1% and 16. Mar 25, 2024 · Zambian last week officially handed over Mopani Copper Mines to International Resources Holding Limited from the United Arab Emirates (UAE). The agreement, involving a total investment commitment of US$1. A former president of the Engineering Institution of Zambia (EIZ), Mr. Jul 7, 2022 · Commodities trader and miner Glencore has announced that its subsidiary Carlisla Investments has signed an agreement with Zambian’s mining investment arm ZCCM to transfer its 90% interest in Mopani Copper Mines in a deal worth $1. Mopani Copper Mines Plc. 5 billion debt owed by Mopani Copper Mines to Glencore. The majority shareholder in Mopani is Glencore, the Swiss-based commodity-trading and mining company; ZCCM-IH’s stake is 10%. Mopani Copper Mines was previously owned by Carlisa Investments Corporation (a joint venture company comprising Glencore International AG (73. Apr 30, 2024 · Who owns the copper mines in Zambia? The majority shareholder in KCM is Vedanta Resources, an Indian diversified metals and mining group; ZCCM-IH’s stake is 20. Mopani Copper Mines PLC is a Zambian-registered mining company engaged in the full spectrum of copper production, from ore extraction to the beneficiation of finished copper cathodes ready for export. 9%) and Zambian Consolidated Copper Mines Limited (10%). , Ltd. 1bn in Zambia’s Mopani Copper Mines in return for 51% ownership of the business, the state-owned ZCCM Investments Apr 1, 2024 · The company operates Konkola Copper Mine and Nchanga Copper mine near Chingola. Apr 7, 2025 · The recent sale of ZCCM-IH’s 51% stake in Mopani Copper Mines to Abu Dhabi’s International Resources Holdings (IRH), done without parliamentary approval, has once again opened old wounds in Jan 17, 2022 · “Mopani will repay the remaining debt of $1. Zambian President Hakainde Hichilema said on Thursday that IRH had acquired a 51% controlling stake in Mopani Copper Mines, the sale of which concluded that day. It owns 20% of Lubambe Copper Mine, 15% of NFC Africa Mining, 15% of Chibuluma Mines and 10% of Chambishi Metals. Experts from as far afield as Switzerland and Germany have come to visit the project Jun 19, 2023 · 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 Mar 11, 2024 · The plant, which is owned by China Nonferrous Metal Mining Corporation (CNMC), produces about 250,000 tonnes of copper per year. If big companies slow down on big investments because of Mopani Copper Mines' fate, mining consultant Ron Smit said that developments in Dec 1, 2023 · 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. 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. Glencore's oil and gas headquarters are in London, England as well as its primary listing being on the London Stock Exchange, and it is one of the largest components of the FTSE 100 by market capitalization. 04 million) (2017: ZMW3. 05%. Dec 22, 2023 · The United Arab Emirates' International Resources Holdings (IRH) will invest $1. The proposed investment in Mopani Copper Mines (MCM) stands as IRH’s most substantial single investment so far. 6%. Oct 17, 2023 · 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. co. Oct 5, 2022 · 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 Dec 22, 2023 · The United Arab Emirates’ International Resources Holding (IRH) will invest $1. (IRH), a cutting-edge natural resources extractive subsidiary of 2PointZero, provides an update on the transformational strides underway at the Mopani Copper Mines in Zambia. 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 lines and industrial machinery to electric vehicles. Mopani Mine in Zambia. 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 Mar 12, 2021 · The Zambian government owns only 10% of the company. The second largest mine with approximately 33. 7% of its overall copper output. If big companies slow down on big investments because of Mopani Copper Mines' fate, mining consultant Ron Smit said that developments in Nov 22, 2024 · Mines and Mineral Development Minister, Paul Kabuswe, has clarified in Parliament that the transaction involving Mopani Copper Mines (MCM) and International Resources Holdings (IRH) did not require parliamentary approval, as it did not involve the sale or transfer of a major state asset. Sep 23, 2024 · Mopani Copper Mines PLC has unveiled a bold new corporate vision, targeting to become a global leader in the copper production and mining value chain. Mopani Copper Mines Plc is a Zambian registered copper mining company owned by Carlisa Investments Corporation (90%) and ZCCM-IH (10%). 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, open pits, a concentrator and a cobalt plant at Nkana mine site in Kitwe Feb 27, 2024 · The acquisition, valued at up to USD 1. The transaction sees Glencore exit from its loan to MCM. 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. The Sentinel Copper Mine is owned by First Quantum Minerals Ltd, and is due to operate until 2035. 1%) and First Quantum Minerals Ltd (16. Mining in Zambia, Opportunities and Challenges. The updated vision, “To become a world champion mine through BEST values,” replaces the previous goal of being a “world-class mining operation. communications@kcm. This mine belongs to the consortium Mopani Copper Mine (MCM), whose main shareholder is the Swiss firm Glencore. Celebrated with an unveiling ceremony in Kitwe, under the patronage of President Hakainde Hichilema, this move represents a significant milestone in IRH’s expansion within the global mining landscape. 6 / ozt -0. Oct 10, 2023 · 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 Feb 2, 2024 · Zambia is seeking to restructure a $1. As a proudly Zambian mining company, our desire is to continue investing in infrastructure development to ensure we make Mopani a world-class mining operation. 5 bn kwacha (US$ 1. 12 million net loss). Wood Mackenzie’s asset reports are built from the bottom up, incorporating a number of granular data metrics to ultimately produce our industry standard cash operating costs. Oct 10, 2023 · 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 Mar 22, 2024 · 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. Nov 3, 2024 · Transforming Mopani Copper Mines. The net loss for the period under review was at ZMW8. Jun 24, 2016 · The Zambian government has a minority stake in some of these smaller mines too through ZCCM-IH. Lusaka owns 20 percent of the copper mine through the state-owned Zambian company ZCCM-IH. Who owns Mopani Copper Mine? The Botswana Chamber of Mines is an organisation established to serve the interests of the mining and exploration companies together with associated industries. 1 bn) in Mopani Copper Mines Plc by Delta Mining Limited, a purported subsidiary of International Resource Holdings (IRH) that is headquartered in Abu Sep 5, 2023 · Zambia’s government is also looking to sell Mopani Copper Mines, a Copperbelt operation that Lungu’s administration bought for $1. Mar 7, 2024 · Abu Dhabi, UAE – 22 March 2024 - International Resources Holding (IRH) is excited to formally announce the completion of its acquisition of Mopani Copper Mines in Zambia. Mopani Copper Mines Plc: Mopani is a joint venture company comprising Glencore, First Quantum Minerals, and ZCCM Investments Holdings. 02% Nov 7, 2023 · In a significant development, Vedanta Resources and the Zambian government have put an end to a long-standing ownership dispute by reaching an agreement that restores Vedanta’s ownership of Konkola Copper Mines (KCM). International Resources Holding Limited was chosen as a strategic partner in December last year after emerging as the preferred bidder. Konkola Copper Mines plc Stand M/1408, Fern Avenue, Chingola,Zambia Phone: +260-212-350604 corporate. The entities involved comprise China’s Zijin Mining, South Africa’s Sibanye Stillwater, China-based Norinco Group and an investment vehicle owned by ex-Glencore officials. Aug 27, 2020 · Mopani produced 51,275 tonnes of finished copper in 2019 including purchased materials – accounting for 13. 09 billion (US$ 722. 43billion (US$842. 1 billion investment into the mine. , has concluded the acquisition of 51% shareholding in Mopani Copper Mines (MCM) translating into a US$1. It operates the Mufulira and Nkana copper mines. 78 / bbl 1. (+260 212) 247344 Jul 3, 2024 · International Resources Holding had wanted a majority stake in Konkola Copper Mines to consolidate its position in Zambia after buying a 51% stake in Mopani. Mopani Copper Mines PLC Corporate Office Central Street ; P O Box 22000, Kitwe ,Zambia ; Tel. 89%. The asset would give Johannesburg-based Sibanye a springboard into Africa's second-largest copper producer, after the company pulled out of a Brazilian deal a year ago. In a ministerial statement on Thursday, Kabuswe cited the Attorney General’s guidance, Mar 25, 2024 · There was jubilation on the Copperbelt on 21 March,2024, when President Hakainde Hichilema handed over Mopani Copper Mines (MCM) to the United Arab Emirates (UAE) company International Resources May 2, 2025 · ZCCM Investments Holdings PLC is a successor company to Zambia Consolidated Copper Mines Limited (ZCCM Ltd), of Zambia listed on the Lusaka Stock Exchange. In his attempt to discourage government from proceeding with the sale of Mopani Copper Mines (MCM) to the Emirati based International Resources Holding Company, Professor The Lumwana copper mine is a conventional open pit (truck and shovel) operation. Lumwana ore, which is predominantly sulfide, is treated through a conventional sulfide flotation plant, producing copper Feb 24, 2022 · Mopani Copper Mines is operated by Carlisa Investments, a joint venture between Glencore( LSE:GLEN), First Quantum Minerals (TSX:FM) and state-owned Zambia Consolidated Copper Mines (with Glencore Mopani Copper Mines PLC Corporate Office Central Street ; P O Box 22000, Kitwe ,Zambia ; Tel. 89% of Copper grade. consequently, the total number of mopani shares increased to 14,081,633 at completion of the transaction. 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 Charles P. zm Dec 25, 2023 · On Friday (22/12), Zambia's state-owned ZCCM Investments Holdings (ZCCM-IH) announced that the United Arab Emirates' International Resources Holdings (IRH) is set to invest a significant $1. Carlisa Investments Corporation is jointly owned by Glencore Plc (81%) and First Quantum Minerals Ltd (19%). 79 / bbl 0. 1 billion to boost operations in Zambia's Mopani Copper Mines in return for 51% ownership Jun 20, 2023 · 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 Apr 13, 2021 · The company operates copper mining projects in key mining regions of Australia, Africa and South America. [1] [2] After nationalisation, copper prices started declining, oil prices increased and the effects of using the mining industry as a cash cow started showing. Glencore said in a separate statement it would continue to retain offtake rights in respect of Mopani’s production. In 2000, Glencore acquires the Mopani copper mine from the Zambian state in an extraordinary deal that prevents the government holding Mopani to environmental laws for 15 years after the sale. Mar 5, 2024 · By Chimwemwe Mwanza. Dec 22, 2023 · President Hakainde Hichilema announced the completion of the Mopani Copper mine transaction during a press conference at Mulungushi International Conference centre in Lusaka. and Abu Dhabi’s International Resources Holding respectively — to ramp up production. Dec 22, 2023 · The group was announced as the winner of a drawn-out process to invest in the government-owned mine on Nov. At Mopani, […] Mar 22, 2024 · IRH has gatecrashed once before. IRH, emboldened after buying a 51% stake in Zambia’s Mopani Copper Mines, has Dec 1, 2023 · IRH has set a strategy to invest in crucial minerals and establish a new entity covering the entire metals and mining supply chain. Sakanya possesses vast knowledge and experience to steer Mopani to higher heights […] May 10, 2024 · Located in Zambia’s North-Western Province, Kansanshi Copper Mine operates as an open-pit venture, jointly owned by First Quantum Minerals and Zambia Consolidated Copper Mines (ZCCM) Investment. Aug 28, 2018 · Mufulira Deeps is a brand-new shaft estimated at US$277 million that Mopani Copper Mines is constructing in the town of Mufulira, on the Copperbelt. The mining industry remains the main driver of economic activity in the country and is forecasted to sustain the economy further into the future. 1 billion and settle the debt mopani copper mines was owing suppliers and contractors. com. 1 billion, and has plans 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. Brent Crude Oil $ 64. Copper $ 4. In Australia, it operates the Ernest Henry, Mount Isa and CSA mines. 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. Apr 14, 2024 · 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. 6445 / lb 0. 1 billion to expand output at Mopani mines after buying a 51% stake in the copper assets previously owned by Mar 22, 2024 · The current jockeying follows IRH having successfully bought into another Zambian mine. The ownership and disposal of Mopani Copper Mines in Zambia are primarily governed by a combination of laws that regulate mining operations, state-owned properties, and corporate governance. Dec 12, 2024 · 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 (Mopani). 5 million metric tons per annum (mmtpa) of Run-of-Mine (ROM) and primarily produced copper (248. Glencore’s major copper mines include interests in the Antamina open-pit mine, located in the Peruvian Andes, as well as Chile’s Collahuasi mine. Palladium $ 959. zm Sep 4, 2023 · The United Arab Emirates' International Resources Holdings (IRH) will invest $1. 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. , signed a contract with Mopani Copper Mines Limited for the infrastructure and support engineering of the Mufulira Mine in Zambia. 78%. 15% Brent Crude Oil $ 63. . Mar 10, 2024 · 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$1. THE HEART OF THE MINE Mopani Copper Mines PLC owns the Mufulira ISA Smelter, where concentrates coming from Mufulira and Nkana Concentrators are blended with Toll concentrates from other sources to produce Copper Anodes containing 99. 77 billion US$ 290. 1 billion, underscores a strategic move aimed at enhancing ZCCM-IH’s participation in the copper mining sector and ensuring full visibility into Mopani’s Nov 21, 2024 · the allotment of the new shares resulted in delta mining limited acquiring a 51% shareholding in mopani and zccm-ih’s shareholding being diluted to 49% while maintaining its original 6,900,000 shares in mopani. 5935 / lb -1. madam speaker Prior to January 2021, Mopani Copper Mines Plc (Mopani) was a joint venture company based in Kitwe as 95% of its operations are located there, comprising Glencore International AG (73. 683 / lb -0. IRH’s deal was finalized in December 2023 but the acquisition was completed in March 2024. 91 mmtpa of ROM and primarily Career Opportunity at Mopani Copper Mines PLC Mopani Copper Mines Plc has operations in Mufulira and Kitwe on the Copperbelt Province in Zambia. 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. 1 billion by IRH, marks a transformative phase in the relationship between Glencore Apr 22, 2024 · IHC’s unit, International Resources Holding (IRH), before its offer to billionaire Anil Agarwal, had bought 51 per cent stake in Mopani Copper Mines in a deal worth $1. The Upgraded Smelter is equipped with two acid plants, which capture up to 95 percent sulphur dioxide […] Jul 18, 2023 · ZCCM-IH last year agreed to buy Glencore’s majority stake in Mopani Copper Mines in a $1. [1] Dec 12, 2024 · The Executive Team at Mopani Copper Mines (MCM) discuss a copper-fuelled future for Zambia and ‘Making Mopani Great Again’ “Now that ZCCM-IH owns 100 Abu Dhabi-based International Resources Holding acquires 51% stake in Zambia's Mopani Copper Mines, marking a significant investment in the mining sector. The Lubambe Copper Mine is 80% owned by EMR Capital Resources, while 20% is held by ZCCM Investments Holdings Plc. Chibuluma Coppers Mines Plc is currently owned 85% by Jinchuan Group Company Limited and 15% by ZCCM-Investments Holdings. 7 thousand tonnes) in 2021. 1 billion in Zambia's Mopani Copper Mines in return for 51% ownership of the business, the state-owned ZCCM 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. Glencore has a major presence in the region and owns huge copper and cobalt mines just across the border in DR Congo. 1%), First Quantum Minerals Ltd. Charles Sakanya is an accomplished mechanical engineer with over 35 years of mining engineering experience in Zambia, Canada, South Africa, South America, Australia, and Kazakhstan. Feb 27, 2024 · 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 Resource Holdings (IRH), has agreed to acquire a 51% shareholding in Mopani for a total investment of up to US$1. Copper production in Zambia plummeted – from its peak of 750,000 tonnes (830,000 short Mar 22, 2024 · LUSAKA, March 21 (Xinhua) -- Zambian on Thursday officially handed over Mopani Copper Mines to International Resources Holding Limited from the United Arab Emirates (UAE). Sep 14, 2023 · Lubambe Copper Mine is an underground mining operation situated on the Zambian Copperbelt close to the town of Chllilabombwe. Apr 5, 2024 · The United Arab Emirates’ International Resources Holding (IRH) pledged to invest $1. Mar 20, 2025 · 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. It’s located about 100 kilometers west of Solwezi in Zambia’s Copperbelt — one of the most prospective copper regions in the world. 72 / lb -0. 6 percent copper. (16. relations@mopani. ” Jan 30, 2025 · JCHX: Subsidiary Signs $21. Copper comprises 70% of Zambia's total export earnings, and the country produces about 20% of the world's emeralds. Effective shareholding in Mopani by Glencore and FQM is, therefore, 73. 1 billion in Zambia's Mopani Copper Mines in return for 51% ownership of the business, the state-owned ZCCM Dec 15, 2017 · Mopani Copper Mines PLC, a joint venture company comprising major shareholders Glencore, First Quantum Minerals Ltd and ZCCM Investment Holdings, owns operations in Mufulira and Nkana on the Copperbelt in Zambia. Since acquiring Mopani Copper Mines in early 2024, IRH has launched an ambitious transformation plan to position it as the most May 10, 2023 · Kansanshi Mine is probably one of the oldest mines in Africa, with direct copper smelting dating back to the 4th Century. Feb 1, 2021 · 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 Feb 6, 2023 · 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 Jan 5, 2023 · Chibuluma Mine began production in 1955 as a self-contained unit producing copper concentrates, which were treated at the mine concentrator. Work started in 2013, and it has already reached a depth of 1. zm Apr 13, 2021 · The company operates copper mining projects in key mining regions of Australia, Africa and South America. While Zambia is among Africa’s largest copper producers, copper production has declined year-on-year since 2020. Mopani Copper Mines Plc was originally part of Zambia Consolidated Copper Mines Limited (ZCCM), and was state-owned until its privatisation in 2000. 5 billion deal funded by debt and said it would seek a new investor. Who sold the mines in Zambia? Mopani Copper Mines was sold to Glencore as the major shareholder, while KCM was offered to Anglo American Corporation (AAC). 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. 60 million). The Head of Apr 4, 2024 · Mining company International Resources Holding (IRH) has acquired a 51% stake in Zambia’s Mopani Copper Mines for $1. Mining in Zambia produces several minerals and is a critical part of the country's economy. 30. It is one of the biggest processing facilities in Africa’s second Oct 26, 2023 · The approach by the United Arab Emirates’ largest listed company comes as South African miner Sibanye-Stillwater is vying to take on Mopani Copper Mines, a prized but struggling state-owned Jun 19, 2024 · The deal to buy an 80% stake in Zambia's Lubambe copper mine is nearing completion. 5bn from Glencore in 2021 and has since also experienced Oct 31, 2024 · International Resources Holding RSC Ltd. Mar 20, 2024 · “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 Mar 22, 2024 · JCHX announced in January its plans to acquire a stake in the Lubambe mine, one of the largest copper mines in Zambia. Type 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. The Zambian government retains 49%. 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. Apr 5, 2023 · Head Office. Lumwana ore, which is predominantly sulfide, is treated through a conventional sulfide flotation plant, producing copper Feb 24, 2022 · Mopani Copper Mines is operated by Carlisa Investments, a joint venture between Glencore( LSE:GLEN), First Quantum Minerals (TSX:FM) and state-owned Zambia Consolidated Copper Mines (with Glencore Feb 6, 2023 · Sibanye Stillwater boss Neal Froneman is interested in acquiring Mopani Copper Mines in Zambia as he pushes to secure metals key to the green-energy transition. The Company owns two operational mining complexes, Nkana and Mufulira, both positioned at the epicentre of Zambia’s world-famous Copperbelt. 66% Apr 5, 2021 · Who owns the copper mines in Zambia? Mopani Copper Mines PLC (“Mopani”) is a Zambian registered company 100% owned by ZCCM Investment Holdings…. Jun 30, 2023 · The bank was hired to facilitate the mine’s sale in 2022, just over a year after it was initially sold to state-run copper company ZCCM by Swiss giant Glencore for $1. Recognized as one of Africa’s largest copper mines by production, Kansanshi boasts estimated reserves of 845 million tons of ore grading at 0. 85 million) (2017: ZMW2. Sentinel Copper Mine in North-Western, was the largest mine in Zambia, producing approximately 59. [4] On 1 April 2000, Mopani purchased the ZCCM assets at Mufulira and Nkana, consisting of the underground mine, concentrator, smelter, refinery and cobalt plant, from the government. Sakanya Chief Executive Officer Mr. Mar 22, 2024 · 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 Glencore plc is an Anglo-Swiss multinational commodity trading and mining company with headquarters in Baar, Switzerland. 95 billion US$352. May 6, 2024 · In February 2024, Zambia Consolidated Copper Mines-Investment Holdings (ZCCM-IH) on behalf of the UPND administration approved the acquisition of a 51 percent stake worth 25. (+260 212) 247344 ; public. 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 Feb 2, 2024 · Aim-listed ZCCM-Investment Holdings (ZCCM-IH) has confirmed that it has entered into an agreement with International Resources Holding (IRH), which will, through its wholly-owned subsidiary Delta Jan 3, 2024 · Abu Dhabi's mining company, International Resources Holding RSC Limited (IRH) has agreed to invest $1. Mar 22, 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. Jul 14, 2023 · 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. 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 Apr 2, 2024 · Mining company International Resources Holding (IRH) has acquired a 51% stake in Zambia’s Mopani Copper Mines for $1. Aug 29, 2024 · Zambia is also counting on the Konkola and Mopani copper mines — under the control of Vedanta Resources Ltd. Apr 10, 2024 · 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”). Oct 10, 2023 · 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 Apr 19, 2024 · The mining investment arm of Abu Dhabi's most valuable company has offered to buy a majority stake in Vedanta Resources' Zambian copper assets, two sources familiar with the matter told Reuters Dec 1, 2023 · 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. 6% copper. Jun 20, 2023 · Four companies have been shortlisted to acquire the Mopani Copper Mines (MCM) in Zambia, reported Reuters, citing two sources. May 24, 2024 · An Australian firm owns the mine and agreed to reopen bidding for IRH to purchase 80% of the mine, which had previously been under contract to be sold to a Chinese mining company, JCHX Mining. 1 billion to boost operations in Zambia's Mopani Copper Mines in return for 51% ownership Jun 20, 2023 · 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 Apr 5, 2023 · Head Office. 1 In 2008, a malfunctioning pump at Mopani discharges so much acid into local water supplies that 13 people are hospitalised,2 and over 1,000 are recorded Dec 22, 2023 · 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 Feb 27, 2024 · D elta Mines Ltd. 83% Brent Crude Jul 14, 2023 · 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. 9%)) and ZCCM-IH (10%). It will add 25 years to the life of the mine. The Company’s success has been because of its focused approach to improvement and the mutually beneficial relationship enjoyed with its stakeholders – an important sector of which is its employees. 5 km. lgl gjb clea xgns smwaaoap fjpriw hpallh sgvbksv axxqa wkmiiv