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UPDATE 2-Zambia expects to find new Mopani investor by year-end, IMF examines Glencore transaction

Zambia's mining investment arm ZCCM-IH said it expects to find a new investor for Mopani Copper Mines by the end of the year, as the International Monetary Fund looks into Zambia's deal with Glencore, Mopani's majority stakeholder. ....

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Zambia seals debt-funded deal to acquire Glencore's Mopani mine

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LUSAKA (Reuters) - Zambia’s state mining investment arm ZCCM-IH has agreed to buy Glencore’s majority stake in Mopani Copper Mines in a $1.5 billion deal funded by debt and will seek a new investor, the government said on Tuesday.
The logo of commodities trader Glencore is pictured in front of the company s headquarters in Baar, Switzerland, November 20, 2012. REUTERS/Arnd Wiegmann/File Photo
The sale follows Glencore’s attempt to suspend operations at Mopani last year because of low copper prices and COVID-19 disruptions, prompting a government threat to revoke the company’s mining licences.
Zambia defaulted on a debt payment in November, becoming Africa’s first pandemic-era sovereign default, but will take on more debt to finance the Mopani deal. ....

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Zambia : Zambia takes on $1.5 billion debt to acquire Glencore's Mopani mine

ZCCM-IH has agreed to take over Glencore’s majority stake in Mopani Copper Mines in a $1.5 billion deal funded by debt, and will look for a new investor, Mines Minister Richard Musukwa has announced.
The sale comes after Glencore last year tried to suspend operations at Mopani due to low copper prices and COVID-19 disruptions, angering the government, which threatened to revoke the company’s mining licenses.
At a ceremony in Lusaka, Mr. Musukwa said the country will try to attract a new investor in Mopani, adding that “several entities” from Britain, Canada, China, Turkey, and Qatar have expressed interest. ....

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Glencore To Sell Copper Mine To Zambian State

Glencore to sell copper mine to Zambian state ....

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Cash-strapped Zambia takes on $1.5 bln debt to acquire Glencore's Mopani mine

LUSAKA Zambia’s state mining investment arm ZCCM-IH has agreed to take over Glencore’s majority stake in Mopani Copper Mines in a $1.5 billion deal funded by… ....

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