Mr. Mtayachalo who is also FDD … Required fields are marked *. Zambia News; Govt rejects Mopani Copper Mines’ plans to place the mine under care & maintenance. The Forum for Democracy and Development -FDD- has hailed the Government for its move to increase shareholding in Mopani Copper Mines. 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. It is therefore surprising that the price of Copper can be cited as one of the reasons necessitating the need to claim ‘Force majeure’ because the current price is about US$4,800 per tonne. Lungu Flashes A Peace Signal, LATEST OFFICIAL ECZ RESULTS: UPND Maintains Lead By 3, 430; Hichilema 514, 816 Vs Edgar Lungu 511, 386, Hichilema Wins Another Day In Court; No Verdict As ConCourt Adjourns To Monday, LATEST ECZ OFFICIAL RESULTS: PF Leads By 70, 571; Edgar Lungu 1, 454, 165 Hichilema 1, 383,594, Cartel Takes Over LAZ; M’membe & Nchito Allegedly Calling Shots, Government Rejects Mopani Copper Mines’ Plans To Place The Mine Under Care And Maintenance. This is clearly not ‘AN ACT OF GOD’ but a normal business trend,” Mr. Musukwa stated. Mopani Copper Mines’ decision to close two shafts is creating tension between citizens of Zambia and government, National Union Miners and Allied Workers (NUMAW) Furthermore, Police in Kitwe have denied mine unions a permit to hold a peaceful protest against Mopani Copper Mine over plans to close down two shafts, Mindola and Central due to lack of resources to manage them. Search all the latest Mopani jobs in limpopo. Omars Lunga - April 7, 2020. Mopani Copper Mines, which produced 119,000 tonnes of copper in 2018, is 73.1% owned by Glencore, 16.9% by First Quantum Minerals and 10% by Zambia’s mining investment arm ZCCM-IH. Rajan Dhall Tuesday November 17, 2020 07:50. 16 April 2020 05:21 The PF government last evening detained Mopani Copper Mine CEO as he tried to leave the country . 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The shaft, which when completed by next year … Read More » MOPANI PROMOTES SAFE MINING. Copper pricing. 5 days. 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. It is therefore surprising that the price of Copper can be cited as one of the reasons necessitating the need to claim ‘Force majeure’ because the current price is about US$4,800 per tonne. Glencore’s decision to halt production at Mopani adds to a list of copper mines that are either operating at reduced capacity or have been taken offline. Copper prices have exhibited tremendous variability since 2003, including in 2006 to 2009, the years at issue in the Mopani copper mines dispute. Two miners have died at Mopani Copper mine in Kitwe after a blasting accident this morning. Source: Company Interest Ownership; ZCCM Investments Holdings Plc. And since we acquired Mopani in 2000, our investments total more than $4.4bn. Glencore’s Zambia mining unit completes refinery upgrade. By. Zambia could win its bid to buy the Mopani Copper Mine stake from Glencore. Still, Mopani was unprofitable even before the coronavirus pandemic led to a collapse in the copper price, convincing Glencore that its best option was to mothball the mines … Take ownership for driving your own career development by participating in ongoing training and development activities such as conferences, workshops, etc. By Darious Kapembwa on November 11, 2019 MOPANI Copper Mines has announced the appointment of Nathan Bullock as its new chief executive officer. Escondida is majority owned and managed by BHP (57.5%), with Rio Tinto (30%) and Japan Escondida (12.5%) the other joint owners. G lencore will likely sell its entire 73.1% stake in Zambia’s Mopani Copper Mines to the government’s mining investment arm ZCCM-IH rather than becoming a minority stakeholder, two sources with direct knowledge said.. Zambia and Swiss-based Glencore are at “cross purposes” over Mopani, Zambian Mines Minister Richard Musukwa had said on Tuesday when he announced ZCCM-IH aims … 2 weeks. Mopani Copper Mines PLC ("Mopani") is a Zambian registered company owned by Carlisa Investments Corporation (a joint venture company comprising Glencore International AG (73.1%) and First Quantum Minerals Ltd (16.9%)) and ZCCM-IH (10%). File picture: Ahmad Masood. on Mopani Moves Towards Placing Mines On Care And Maintenance. IN CASE YOU MISSED IT: 5 key stories from December 15. Mopani says it will go ahead and place its Nkaka and Mufulira mines on care and maintenance with effect from today. FDD Spokesperson Yotam Mtayachalo says the move will enable the country to derive maximum benefits from its mineral wealth and safeguard jobs for Zambian mine workers. Great move on MCM. Latest News News. In emailed communication to ZCCM-IH chief executive officer Mabvuto Chipata dated Friday, 18 December 2020, the Head of Copper Africa at Glencore, Mark Davis, said he had today [Friday] advised the Minister of Mining and Minerals Development of Glencore’s intention to stop its current activities on the potential transaction of the Carlisa shareholding in Mopani to ZCCM-IH. “MCM came to Zambia in the year 2000. Mopani Copper Mines management has warned workers of a possible shutdown if the Copperbelt Energy Corporation (CEC) does not compromise on tariffs. (operator) 100 %: Direct: Mopani Copper Mines Plc is a Zambian registered copper mine … This follows Mopani Copper Mines alleged breach of provisions of the Mines and Minerals Act and the Employment Code Act. 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. Mines minister, Richard Musukwa threatened to have Mopani Copper’s mining licence suspended, adding that the move was unjustifiable and illegal. Glencore will reverse its earlier decision to shut its Zambia subsidiary Mopani Copper Mines if it reaches an agreement with the Zambian government, the company said on Monday. Search all the latest Mopani jobs in limpopo. TOP NEWS. 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. We have invested more than $1 billion in the Mopani mine since 2014 – extending its life by a further 25 to 30 years. This is just politicking . Zambia's Mopani Copper Mines (MCM) has shut down its Mufulira smelter for major refurbishment, the Glencore-owned company said on Monday. GLENCORE was in discussions with the Zambian government regarding plans to place the firm’s Mopani Copper Mines on care and maintenance. “As of now, we are discussing a potential sale of their stake in Mopani,” said one of the sources. 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. […] 7 months ago editor. No related posts. 73.1 %: Indirect: Mopani Copper Mines plc. Zambia plans to revoke Mopani Copper Mines licences 16 April 2020 (Last Updated April 16th, 2020 16:12) Zambia intends to revoke the mining licenses of Mopani Copper Mines (MCM), a subsidiary of Glencore, as the firm did not give sufficient notice before suspending its mining operations due to the coronavirus Covid-19 crisis. This price is not as low as some years when it was as low as US$2000 per tonne. ZCCM-IH currently has 10% of Mopani, with Glencore holding 73.1% and Vancouver … According to reuters, global mining company Glencore’s Zambian unit Mopani Copper Mines (MCM) made the announcement in a statement. Flat products; Long products; Steel raw materials; Semi finished products; Stainless & Special … 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. 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. Mpinane Senkhane | May 21, 2015. This is according to a letter to Mopani Copper Mines, Chief Executive Officer, Nathan Bullock from Mining Licensing Committee Secretary Micheal Chibonga and made available to ZNBC News. Zambia’s Mopani Copper Mines (MCM), majority owned by London-listed Glencore, will delay the construction of a planned copper processing plant until the government pays it $300 million the firm says it is owed in value added tax (VAT)... Read More. Tragically, the lives of three employees were lost after a loader caught fire,” he stated. 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. Your email address will not be published. Copper mining company Mopani Copper Mines plc said on Tuesday that it had placed its mining operations on care and maintenance and a number of projects on hold. Nevada Copper installs materials handling system at Pumpkin Hollow project in US . They are scared if the mines close they will lose elections next year since copperbelt is their stronghold. (operator) 100 %: Direct: Mopani Copper Mines Plc is a Zambian registered copper mine … “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. 10 %: Indirect: First Quantum Minerals Ltd. 16.9 %: Indirect: Glencore plc. Box 22000 Kitwe, Zambia 1.3 Telephone Number of Developer +260 2 247000/247002 1.4 Fax Number and Electronic Mail Address +260 2 220725 mopani@mopani.com.zm 1.5 Name of Owner of Mine Mopani Copper Mines Plc, Comprising The Following: Name Shareholding Glencore International … 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.”. Official … Your email address will not be published. This price is not as low as some years when it was as low as US$2000 per tonne. 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 … Where is Labour Minister, have owners paid off employees benefits? Mopani… Mine unions urge govt to grant reliefs to Mopani By Darious Kapembwa on April 21, 2020. The company is in the process of spending billions of dollars at Mopani to sink new shafts. We have invested more than $1 billion in the Mopani mine since 2014 – extending its life by a further 25 to 30 years. 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