Another reason cited was the challenge of COVID-19 in terms of putting projects on hold until key personnel can travel to the mining sites,” Mr. Musukwa said. Zambia’s mines min Glencore will reverse its earlier decision to shutter its Zambia subsidiary Mopani Copper Mines (MCM) if it reaches an agreement with the Zambian government, the company said on Monday. Latest Annual Report Extracts; Latest News; Document Uploads; Profile Brief. Search all the latest Mopani jobs in limpopo. Glencore’s Zambia mining unit completes refinery upgrade. Latest News: Zambia Sees Deal With Glencore Over Mopani Within a Month November 16, 2020: Owners & OPERATOR . 16 April 2020 05:21 The PF government last evening detained Mopani Copper Mine CEO as he tried to leave the country . Minority shareholders are spread throughout the world, in various locations. Newer Post. “As of now, we are discussing a potential sale of their stake in Mopani,” said one of the sources. And since we acquired Mopani in 2000, our investments total more than $4.4bn. Technocrats and mining experts have set base at Mopani Copper Mines in Kitwe to collect as much information as possible in order to prepare for any eventualities. Glencore said Nathan Bullock, the chief executive of Mopani Copper Mines, had been held at Lusaka airport in connection with its decision to shutter the business … Mr. Mtayachalo who is also FDD … Zambia could win its bid to buy the Mopani Copper Mine stake from Glencore. Latest News: Zambia Sees Deal With Glencore Over Mopani Within a Month November 16, 2020: Owners & OPERATOR. Escondida is majority owned and managed by BHP (57.5%), with Rio Tinto (30%) and Japan Escondida (12.5%) the other joint owners. Search all the latest Mopani jobs in limpopo. Where is Minister of Commerce, does PF government care about job losses in this sector? Zambia News; Editor’s Choice; Letters to Editor ; About; Advertise; Mopani mine boss detained at Airport. 10 %: Indirect: First Quantum Minerals Ltd. 16.9 %: Indirect: Glencore plc. No related posts. 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. Mopani Copper Mines Plc, a unit of global commodity trader and Switzerland based Glencore Xstrata has in earnest stepped up efforts to complete the much awaited US$323 million Synclinorium Shaft at the Company’s Nkana mine in Kitwe to elongate the mine’s lifespan. In a statement obtained by phoenix news, Mopani has indicated that the scope of works on existing contracts that will expire on 31st July 2020 will not be carried forward into august 2020 purchase orders, which will be only for a duration of one month and will be supported by a detailed scope of work for august 2020 which contractors and service providers must adhere to as they await further communication pending the outcome of the appeal process to transition into care and maintenance. Kitco News. 5 days. Lungu Remains Commander-In-Chief – Cabinet Chief, Lawyer Reports Hichilema, GBM To International Court For Crimes Against Humanity, Hichilema Offers 10 Point Plan To Fix Zambia, ConCourt Adjourns Presidential Petition To Tuesday, Today’s Photo: PEACE; Pres. Mopani Copper Mines has declared a Force Majeura citing the effects of Covid 19 and the drop of copper prices which declaration was rejected by the Zambian government and sternly warned Mopani that they will face the full force of the law should they go ahead and place the mine on care and maintenance. Mopani public relations manager Nebert Mulenga made the announcement in a statement yesterday. © 2021 Zambia Reports. From the time Danny Carlow officially resigned from Glencore, an unexplainable … 39144 0 Share Metso Outotec sells aluminium business to REEL International . Required fields are marked *. He stated that the letter claimed that the company had taken the action pursuant to section 37(1)(d) of the Mines and Minerals Development Act which provides for closure of a mine based on Force Majeure. The post Mopani Moves Towards Placing Mines On Care And Maintenance appeared first on Phoenix FM. Once fully up and running, the mines should produce about 140,000 tons of copper … […] In a statement released late Tuesday in reaction to Mines … 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 … Great move on MCM. 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 … Between the year 2000 and today, the price of Copper has fluctuated from as low as US$2000 to US$9900 per tonne. This is clearly not ‘AN ACT OF GOD’ but a normal business trend,” Mr. Musukwa stated. 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. About 600 direct employees of Mopani Copper Mines at Mindola North and Central shafts will be laid off following Mopani’s announcement to close the two shafts. Mopani Copper Mines has informed all its contractors and suppliers that the mine will only offer a one month contract to each, pending the outcome of the appeal processes against government’s latest rejection of the firm’s proposal to place its mining operations on care and maintenance. Breaking News 3852. Zambia News; Govt rejects Mopani Copper Mines’ plans to place the mine under care & maintenance. on Mopani Moves Towards Placing Mines On Care And Maintenance. Your email address will not be published. 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. “The Ministry has studied both the letter from MCM and the oral submissions during the Video conference submission and wish to react as follows: The Government of the Republic of Zambia Rejects this attempt by Mopani to put the Mines in Kitwe and Mufulira on CARE AND MAINTENANCE because it does not conform with the Law. Share this post. Minority shareholders are spread throughout the world, in various locations. 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. Lungu Wins Tight Presidential Election; ECL 1, 860, 877 Hichilema 1, 760, 347, Muvi TV & Komboni Radio Licences Revoked For Alleged Misconduct, Pres. Named after the Spanish for ‘hidden’, Escondida is a copper mine located Atacama Desert in Northern Chile and is the world’s largest copper mine by output. Mopani Copper Mines Plc has laid off a total of 131 employees, including 15 expatriates, who were made redundant as a result of the closure of the Central and North Shafts. GLENCORE may sell its entire 73.1% stake in Zambia’s Mopani Copper Mines to the government, said Reuters citing two sources with direct knowledge of the matter. 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. 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. 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. The buyer would be ZCCM-IH, Zambia’s state-owned mining company which … Copper pricing. 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. (operator) 100 %: Direct: Mopani Copper Mines Plc is a Zambian registered copper mine … According to reuters, global mining company Glencore’s Zambian unit Mopani Copper Mines (MCM) made the announcement in a statement. Save my name, email, and website in this browser for the next time I comment. Mopani Mine to lay off 600 workers Over 600 Mopani Copper Mines employees will be laid off next month following the announcement by the mining company to cease operations at Mindola North Shaft and Central Shaft. Mines Minister Richard Musukwa said at a briefing this morning that Mopani’s majority shareholder, Glencore, had informed him of the decision via a video conference that the decision was caused by falling copper prices and disruptions in international mobility. Mopani Copper Mines Plc is a Zambian registered copper mine owned by ZCCM-IH (10 per cent), Glencore Plc (73.1 per cent) and First Quantum Minerals Ltd (16.9 per cent). Between the year 2000 and today, the price of Copper has fluctuated from as low as US$2000 to US$9900 per tonne. Copper prices have exhibited tremendous variability since 2003, including in 2006 to 2009, the years at issue in the Mopani copper mines dispute. 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 … 73.1 %: Indirect: Mopani Copper Mines plc. (operator) 100 %: Direct: Mopani Copper Mines Plc is a Zambian registered copper mine … Zambia’s mines min Reduced Loadshedding Linked to Increased Water Levels, BoZ STARTS ACCUMULATING GOLD AS PART OF INTERNATIONAL RESERVES, BY-ELECTION VICTORY A SIGN OF ZAMBIANS’ RENEWED HOPE IN PF – SG, KALOMO CRIMINAL BEHIND FAKE FACEBOOK PAGE NAMED NANCY KANGANJA NABBED FOR PERSONATION, PF HAS DELIVERED DEVELOPMENT IN MATERO – KAMBA, Toddler Dies After Being Run Over By A Car At Church, Man Hangs Himself with Shoelaces in Chizozu, THREATENED DIVORCE CAUSES LUSAKA MAN TO KILL HIMSELF AND HIS CHILDREN, NEW SI ZERO RATES VAT ON PETROL AND DIESEL, Bishop Lungu Prays for Peaceful Elections, COPPERBELT MINISTER MWAKALOMBE TESTS POSITIVE FOR COVID-19, KABWE SHOPRITE AND ZAMBEEF TEMPORARILY CLOSED FOR NON-ADHERENCE TO COVID-19 RULES, South African Mortuaries Run Out Of Space As COVID-19 Bodies Pile Up, Zambia’s Mission In Addis Pursues Economic Benefit For Zambia Amid COVID-19 Outbreak, COURT COMMITS BOYFRIEND TO HIGH COURT FOR DEFILING GIRLFRIEND, LUSAKA WOMAN DIES AFTER BEING HIT BY A CAR ON GREAT EAST ROAD AS HER ONE YEAR OLD BABY MIRACULOUSLY SURVIVES, EDUCATION PS ORDERS PRIVATE SCHOOLS THAT HAVE OPENED TO CLOSE UNTIL JAN 18, Pres. Your email address will not be published. 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 … Home / General News / Mine unions urge govt to grant reliefs to Mopani. “Following Mopani’s recent announcement regarding the transition of its mining operations to care and maintenance, Glencore is currently in discussions on the way forward with the Government of Zambia,” it said. Where is Labour Minister, have owners paid off employees benefits? Glencore engaged Grit Consulting of Australia, a change management consulting firm, to undertake a thorough Mopani mine-wide audit … Steel. Mine unions urge govt to grant reliefs to Mopani By Darious Kapembwa on April 21, 2020. “Force Majeure relates to an event that can best be described as ‘AN ACT OF GOD’ which clearly is beyond the control of an employer but in this case no explanation equivalent to “An act of God has been availed.The letter from MCM and the video conferencing failed to provide clear evidence of what has happened that would trigger MCM citing Force Majeure. The mine accounts for about … 10 %: Indirect: First Quantum Minerals Ltd. 16.9 %: Indirect: Glencore plc. A further indication was made that an ex-gratia payment of one month’s salary would be made to unionized staff employed by contractors in addition to some severance package. Latest News. Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Source: Company Interest Ownership; ZCCM Investments Holdings Plc. 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. Flat products; Long products; Steel raw materials; Semi finished products; Stainless & Special … 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. GOVERNMENT should provide the required relief to Mopani Copper Mines (MCM) and other mining companies to save jobs during the COVID-19 period, the unions have demanded. Share this article: Editor's Note: With so much market volatility, stay on top of daily news! Mines minister, Richard Musukwa threatened to have Mopani Copper’s mining licence suspended, adding that the move was unjustifiable and illegal. Mopani Moves Towards Placing Mines On Care And Maintenance, Zambia Records Reduction In Road Traffic Accidents, ‘Ba President baleikala apaweme, lelo ine ndeikala mung’anda iileloka no umutenge utobeke’, Inequality may deter Zambia from meeting Social Economic Development-Charity Musamba. In April 2000, Mopani purchased assets of the Zambia Consolidated Copper Mines Limited (ZCCM) comprising underground mines, a concentrator, a … Latest News. 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. 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%). 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. 54. Zambia News; Editor’s Choice; Letters to Editor; About; Advertise ; Racism continues running Mopani Copper mine. 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. Read all the latest news, breaking stories, top headlines, opinion, pictures and videos about Mopani from Nigeria and the world on today.ng Mopani, which produced 119,000 tonnes of copper in 2018, is 73.1% owned by Glencore, 16.9% by First Quantum Minerals and 10% by ZCCM-IH. 4 months ago editor. Bullock takes over from Chris Vermeulen who left the mining giant in July this year. 73.1 %: Indirect: Mopani Copper Mines plc. He stated that the price of copper per tonne has been fluctuating for many years. Take ownership for driving your own career development by participating in ongoing training and development activities such as conferences, workshops, etc. 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 … Mopani says it will go ahead and place its Nkaka and Mufulira mines on care and maintenance with effect from today. Association of mine suppliers and contractors –AMSC- president, Augustine Mubanga has confirmed to phoenix news of having received the letter from Mopani copper Mines which he says is inappropriate. In April 2000, Mopani purchased assets of the Zambia Consolidated Copper Mines Limited (ZCCM) comprising underground mines, a concentrator, a smelter and a refinery at Mufulira mine site and underground mines… Mpinane Senkhane | May 21, 2015. 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. Zambia 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. Omars Lunga - April 7, 2020. 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. 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. The Forum for Democracy and Development -FDD- has hailed the Government for its move to increase shareholding in Mopani Copper Mines. 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. Zambia News; Editor’s Choice; Letters to Editor ; About; Advertise; Mopani mine boss detained at Airport. This price is not as low as some years when it was as low as US$2000 per tonne. Glencore has advised the Zambian government of its intention to halt its current activities on the potential transaction of the Carlisa shareholding in Mopani Copper Mines Plc (Mopani) to ZCCM-IH. “Mark Davies informed the meeting that some personnel in Management would be laid off while unionized workers would obtain their salaries for the 3 months from today the 7th of April 2020, after which the situation would be up for review. 7 days. This price is not as low as some years when it was as low as US$2000 per tonne. Dec 16, 2020 @ 00:05 WEEKLY BASE METAL PREMIUMS REPORT: 15/12 . In 2018, we paid more than USD84 milion in taxes, royalties and other payments to government. Rajan Dhall Tuesday November 17, 2020 07:50. Mopani… “MCM came to Zambia in the year 2000. Latest news. The Zambian government seeks to block Glencore PLC's attempt to close its Mopani Copper Mines PLC operation and dismiss 11,000 workers, with Mines Minister Richard Musukwa saying the plan is against the law and unjustified despite coronavirus-related disruptions, Reuters reported. Mr. Sinkamba said Mopani’s refusal to pay new tariffs is an injury on the Zambian economy because government obtained 250 million Euros from the Euro bond to recapitalize ZESCO. Take ownership for driving your own career development by participating in ongoing training and development activities such as conferences, workshops, etc. We have invested more than $1 billion in the Mopani mine since 2014 – extending its life by a further 25 to 30 years. Mopani Copper Mines management has warned workers of a possible shutdown if the Copperbelt Energy Corporation (CEC) does not compromise on tariffs. 2 weeks. GLENCORE was in discussions with the Zambian government regarding plans to place the firm’s Mopani Copper Mines on care and maintenance. Company Profile. 2 months ago editor ... Government is currently negotiating with Glencore for ZCCM-IH to acquire over 90 percent of its 73.1 percent stake in Mopani copper mines with both the Mine Workers Union of Zambia and the national union of miners and allied workers recently declaring interest to own shares in the mine on behalf of workers after government takes over operations. 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. Zambia's Mopani Copper Mines (MCM) has shut down its Mufulira smelter for major refurbishment, the Glencore-owned company said on Monday. Latest News; Business; Entertainment; Sports; Search for: Technocrats set up base at Mopani. The Ministry is not aware of any event that has happened that is beyond the reasonable control of MCM and which makes mining impossible,” Mr Musukwa stated. 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. 16 April 2020 05:21 The PF government last evening detained Mopani Copper Mine CEO as he tried to leave the country . File picture: Ahmad Masood. According to reuters, global mining company Glencore’s Zambian unit Mopani Copper Mines (MCM) made the announcement in a statement. Zambia to block Glencore's plan to close Mopani Copper Mines – Reuters. Mopani Copper Mines has informed all its contractors and suppliers that the mine will only offer a one month contract to each, pending the outcome of the appeal processes against government’s latest rejection of the firm’s proposal to place its mining operations on care and maintenance. A Glencore spokesman declined to comment. Sign Up for the Copper Digest Sign Up 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. Tragically, the Glencore-owned company said on Monday so much market volatility, stay on top of daily!... 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