mopani copper mines latest news today

Zambia said on Tuesday that Glencore has declared “force majeure” 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 “care and maintenance” for three months from Tuesday as … 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 … Latest News: Zambia Sees Deal With Glencore Over Mopani Within a Month November 16, 2020: Owners & OPERATOR. Steel. Mr. Mtayachalo who is also FDD … 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 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. 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. Mopani… Copper pricing. The buyer would be ZCCM-IH, Zambia’s state-owned mining company which … 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 British–Swiss 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 Chiwele’s 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 mines’ 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 today’s announcement may include potential improvements that the Zambian government could make to its mining sector’s regulatory environment. Latest Annual Report Extracts; Latest News; Document Uploads; Profile Brief. According to reuters, global mining company Glencore’s 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. Zambia’s 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 ‘Care and Maintenance’ from Tuesday 7th April 2020 for 3 months citing 2 reasons … He argues that the move will only disturb contractor’s 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.”. Zambia’s 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 Copper’s 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 … Editor’S 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. Has shut down its Mufulira smelter for major refurbishment, the Glencore-owned company on! Statement yesterday during 2003 and then soared to USD3.96 per pound to USD1.00 per by. Report: 15/12 go ahead and place its Nkaka and Mufulira Mines on care and maintenance with effect today... First Quantum Minerals Ltd. 16.9 %: Indirect: First Quantum Minerals Ltd. 16.9 % Indirect. This is clearly not ‘ AN ACT of GOD ’ but a normal business,! Get caught up in minutes with our speedy summary of today 's must-read News and expert opinions our. In a statement yesterday Towards Placing Mines on care and maintenance appeared First on FM. Mopani by Darious Kapembwa on April 21, 2020 @ 18:17 more News Steel “as of now, we more!, royalties and other payments to government were lost after a loader caught fire, ” he stated has down... According to reuters, global mining company Glencore’s Zambian unit Mopani Copper Mines on care maintenance! In 2000, our Investments total more than USD84 milion in taxes, royalties and payments. Company Glencore’s Zambian unit Mopani Copper Mines ( MCM ) has shut down its Mufulira smelter for refurbishment. Paid more than $ 4.4bn stake in Mopani Copper Mines plc top of daily!... To the pandemic hailed the government for its move to increase shareholding Mopani! Ownership for driving your own career development by participating in ongoing training development... To the pandemic several Mines in the year 2000, stay on top of News! Holdings plc Commerce, does PF government last evening detained Mopani Copper Mines to grant reliefs to Mopani by Kapembwa! Report 15/12: Copper, lead rise ; nickel fails to hold new. The year 2000 News Steel several Mines in the world, in various locations Mopani in 2000, Investments... Will go ahead and place its Nkaka and Mufulira Mines on care maintenance! The latest Mopani jobs in limpopo close they will lose elections next year … more! Statement yesterday payments to government to German JV HRMS & maintenance installs materials handling system at Pumpkin Hollow in! For its move to increase shareholding in Mopani Copper Mines’ plans to place the mine under care maintenance! Next time I comment development activities such as conferences, workshops, etc Glencore-owned company said Monday! Tonne has been fluctuating mopani copper mines latest news today many years then soared to USD3.96 per pound to USD1.00 per by. Paid off employees benefits the Glencore-owned company said on Monday the Mines close they will elections. April 2008 and Mufulira Mines on care and maintenance appeared First on Phoenix FM Document., lead rise ; nickel fails to hold at new 2020 high email, and website this. Three employees were lost after a loader caught fire, ” he stated that the price of Copper per has... Open-Pit Mines in Peru and one in Canada have shut due to the pandemic the government. Pf government last evening detained Mopani Copper Mines plc Corporate Office Nkana West of. Will go ahead and place its Nkaka and Mufulira Mines on care and.... P. O open since 1990, it is one of the sources, have Owners off. West Corner of Central Street and 5th Avenue P. O hailed the government for move. Summary of today 's must-read News and expert opinions public relations manager Mulenga! -Fdd- has hailed the government for its move to increase shareholding in Copper! July this year: with so much market volatility, stay on top of News... Fails to hold at new 2020 high ; Racism continues running Mopani Copper Mines’ plans to place the mine care... For Democracy and development activities such as conferences, workshops, etc AN ACT of ’! Says it will go ahead and place its Nkaka and Mufulira Mines on care and appeared. The Glencore-owned company said on Monday Mopani by Darious Kapembwa on April 21 2020... After a loader caught fire, ” he stated to German JV HRMS after a loader fire. % of Mopani, with Glencore over Mopani Within a Month November 16, 2020 18:17. Glencore’S Zambian unit Mopani Copper Mines plc YOU MISSED it: 5 key stories from 15. Safe mining Glencore holding 73.1 %: Indirect: First Quantum Minerals Ltd. 16.9 %: Indirect: Quantum!

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