Zambia said on Tuesday that Glencore has declared âforce majeureâ 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 âcare and maintenanceâ for three months from Tuesday as â¦ Source: Company Interest Ownership; ZCCM Investments Holdings Plc. Sign up here! 16 April 2020 05:21 The PF government last evening detained Mopani Copper Mine CEO as he tried to leave the country . Nevada Copper installs materials handling system at Pumpkin Hollow project in US . Save my name, email, and website in this browser for the next time I comment. The Forum for Democracy and Development -FDD- has hailed the Government for its move to increase shareholding in Mopani Copper Mines. Sign Up for the Copper Digest Sign Up And the unions have further demanded that Mopani â¦ Latest News: Zambia Sees Deal With Glencore Over Mopani Within a Month November 16, 2020: Owners & OPERATOR. Steel. Mr. Mtayachalo who is also FDD â¦ Omars Lunga - April 7, 2020. Dec 16, 2020 @ 00:05 WEEKLY BASE METAL PREMIUMS REPORT: 15/12 . Dec 15, 2020 @ 21:44 LIVE FUTURES REPORT 15/12: Copper, lead rise; nickel fails to hold at new 2020 high. “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. Z ambia expects to conclude talks over buying Glencore Plcâs 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. Fluctuations to the copper price are a constant in the mining sector and cannot reasonably be classified as ‘Events’ beyond the control of the company.”. 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. Mopaniâ¦ Copper pricing. The buyer would be ZCCM-IH, Zambiaâs state-owned mining company which â¦ Breaking News 3852. 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. Metso Outotec sells aluminium business to REEL International . Glencore Plc, a BritishâSwiss 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 Chiweleâs employment contract. And since we acquired Mopani in 2000, our investments total more than $4.4bn. Company Profile. 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. Recently, the government through the director of mines and minerals development rejected the intentions by Mopani to place its mining operations on care and maintenance effective 31st July 2020 with Mopani disclosing in a statement last week that it will appeal against the director of minesâ decision. Copper prices have exhibited tremendous variability since 2003, including in 2006 to 2009, the years at issue in the Mopani copper mines dispute. He stated that the price of copper per tonne has been fluctuating for many years. Mine unions urge govt to grant reliefs to Mopani By Darious Kapembwa on April 21, 2020. They are scared if the mines close they will lose elections next year since copperbelt is their stronghold. Talks as laid out in todayâs announcement may include potential improvements that the Zambian government could make to its mining sectorâs regulatory environment. Latest Annual Report Extracts; Latest News; Document Uploads; Profile Brief. According to reuters, global mining company Glencoreâs Zambian unit Mopani Copper Mines (MCM) made the announcement in a statement. February 27, 2014 News Comments Off on Mopani Copper Mines copper output rises 12 percent, says report Glencore Xstrata increased its copper outturn by more than 12 percent at its Mopani Copper Mines in Zambia last year compared to a year earlier, as expansion bolstered by investment in the local unit rose; company says. IN CASE YOU MISSED IT: 5 key stories from December 15. Zambiaâs mines min The reason cited of Force Majeure is defined in the Law as: ‘FORCE MAJEURE’ means an event which is beyond the reasonable control of a Licence holder and which makes the exploration or mining operations under the licence impossible. The Glencore Executive Director informed me that the Company was going on âCare and Maintenanceâ from Tuesday 7th April 2020 for 3 months citing 2 reasons â¦ He argues that the move will only disturb contractorâs business plans further urging the mine, government and other stakeholders to approach the matter with a long term view towards sustainability. Later in the afternoon after the meeting, an electronic copy of a letter dated 6th April 2020 addressed to the Director of Mines and copied to my office was emailed by MCM.”. Zambiaâs mines min 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. Elim Mining secures first tranche of equity financing . And since we acquired Mopani in 2000, our investments total more than $4.4bn. Mines minister, Richard Musukwa threatened to have Mopani Copperâs mining licence suspended, adding that the move was unjustifiable and illegal. Glencore engaged Grit Consulting of Australia, a change management consulting firm, to undertake a thorough Mopani mine-wide audit â¦ EditorâS Choice ; Letters to Editor ; About ; Advertise ; Mopani mine detained... 2020 @ 21:44 LIVE FUTURES REPORT 15/12: Copper, lead rise mopani copper mines latest news today nickel to! System at Pumpkin Hollow project in US Indirect: First Quantum Minerals Ltd. 16.9 %: mopani copper mines latest news today Glencore. 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