19
Jan
14:35
COPPER: Glencore divests Zambia's Mopani Copper Mines
Swiss-based Glencore is selling its entire 73.1% stake in the struggling Mopani Copper Mines in Zambia for $1.5 billion, Kallanish reports.
The buyer is Zambia’s state-backed mining investment unit, ZCCM Investments Holding plc. The sale price is $1 plus assuming $1.5 billion in debt.
Prior to the deal, ZCCM-IH held a 10% stake in the project. Canada-based First Quantum also owns a 16.9% stake.
The sale of Glencore’s stake must be approved by regulat…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous