Copper production, which generates about 70% of the country’s export earnings, dropped to the lowest since 2015 last year. Mopani Copper Mines Plc, Comprising The Following: Name Shareholding Glencore International AG 73.1% First Quantum Minerals Plc 16.9% Zambia Consolidated Copper Mines Investment Holdings 10% 1.6 Mine Manager or the Person Responsible for the Mine The company said that employees and their dependants would continue to receive healthcare and that it would remain committed to its corporate social responsibility projects. Mopani Copper Mines Plc is a Zambian registered copper mine owned by ZCCM-IH (10%), Glencore Plc (73.1%) and First Quantum Minerals Ltd (16.9%). Mining Licensing Committee secretary Michael Chibonga sent a notice dated 14 April to Mopani chief executive Nathan Bullock. This measure would be over and above what was required by contractual agreements. Concentrate and other copper bearing feed materials (e.g. Mopani, which Glencore valued at $1.7 billion in December -- when copper prices were much higher -- has a smelter as well as mines. In June 2013, Mopani Copper Mines Plc (MCM) committed to the modernisation of the opper c refinery that included the conversion of the existing refinery to the ISAPROCESS™ t echnology, installation of e lectrode handling equipment, upgraded electrolyte circulation systems, and upgraded process control systems. Mopani Copper Mines Plc is a Zambian registered copper mining company owned by Carlisa Investments Corporation (90%) and ZCCM-IH (10%). Over the whole of 2019, the Democratic Republic of the Congo had produced 34,657 kg of gold against 36,777 kg in 2018. info@copperbeltkatangamining.com Fifty years ago, Zambia’s first post-independence leader, Kenneth Kaunda, nationalized mines owned by Anglo American Plc and Roan Selection Trust to rally his political supporters. Glencore has faced repeated problems with its African operations, struggling to make them profitable. Now, the often-populist President Edgar Lungu may try to shore up support in the politically crucial Copperbelt province by fighting to keep Mopani operating. Before it's here, it's on the Bloomberg Terminal. As the world moves toward an era of electric vehicles, China is gaining increasing dominance over the supply chain. Chinese companies including Jiangxi Copper Co. have shown a growing interest in Zambia’s copper industry. Ivanhoe Equips DRC Mine With 10 ICU Units Amid Kamoa-Kakula Construction, Zambian Government Rejects Mopani’s “Force Majeure”, Kamoa-Kakula Copper Project mines 269,000 tonnes of ore from the Kakula and Kansoko mines in December at an average grade of 5.36% copper, GOLD, COPPER, COFFEE … among the best rated raw materials in 2020 – DRC, Trump to approve land swap for Rio Tinto’s Resolution copper project, Oxbotica raises $47m for autonomous mining software, Botswana extends Lucara’s Karowe license to 2046, R&B star Akon enters Congo mining sector in JV with state company, Aton outlines plan to build Egypt’s second gold mine, Second time lucky for Banro and Shomka over sale of Namoya gold mine? Assets; includes a concentrator, a refinery and a smelter; and produces 35,000 tonnes of contained copper in ore each year through the process of open stoping. Mulenga declined to disclose the size of the stake that state-owned ZCCM Investments Holdings is trying to acquire. Zambia, heavily dependent on copper revenues, is on the brink of a debt crisis. 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. The Mopani mines are on the outskirts of Kitwe, a city about 180 miles north of Zambia’s capital, Lusaka. When Mopani Copper Mines commenced operations in 2000, the region’s malaria control activities had completely come to a halt, and the disease’s incidence rate had risen to 216 people in a population of 1000. The company’s success has been as a result of its focused approach to improvement and the mutually beneficial relationship enjoyed with its stakeholders – an … Mopani Copper Mines PLC, a joint venture company comprising major shareholders Glencore, First Quantum Minerals Ltd and ZCCM Investment Holdings, owns operations in Mufulira and Nkana on the Copperbelt in Zambia. Copperbelt Katanga Mining will use the information you provide on this form to be in touch with you and to provide updates and marketing. copper oxides) are also obtained from surrounding operations in Zambia and the Democratic Republic of the Congo (DRC). Musukwa, who made the comments at a press briefing in Kitwe that was broadcast on local radio, asked for questions to be sent by text message, which he didn’t immediately respond to. Yet the company unveiled a turnaround plan last year that would see the assets generate an annual profit of more than $1.5 billion. We'll assume you're ok with this, but you can opt-out if you wish. 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. Copper pricing Copper prices have exhibited tremendous variability since 2003, including in 2006 to 2009, the years at issue in the Mopani copper mines dispute. Spanning the copper belt that stretches north into the Democratic Republic of Congo, the mines are supposed to be a major growth driver, but have been beset by problems. Bullock is at the center of a rapidly deteriorating row between the southern African nation’s government and Glencore Plc, the world’s biggest commodity trader. Mopani said that it believed that the transition to care and maintenance would help to protect the company’s value and preserve the option to deliver growth projects when market conditions improve. Gradually its rivals have quit the region to be replaced by Chinese companies. In addition to the impacts of a rapid decline in the copper price, Mopani’s situation had been further impacted by the critical disruptions to international mobility, transportation and supply chains arising from Covid-19. 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. 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 for at least three months. Through enhanced safety standards and ongoing investment in the operations, Mopani is committed to transforming into a world-class mining … 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's operations consist of four underground mines, a concentrator and a cobalt plant in the town of Kitwe and an underground mine, concentrator, smelter and refinery in the town of Mufulira. Please try again. Mopani operates the Mufulira mine, smelter, concentrator and copper refinery and the Nkana mine, concentrator and cobalt plant. This category only includes cookies that ensures basic functionalities and security features of the website. The announcement, the company said, followed a number of meetings with Zambian government Ministries to provide an update of its comprehensive operational review. It would be engaging the government and unions regarding the nature and duration of that support, but expected that permanent Zambian employees, excluding management, would be sent home on their base salary. Carlisa Investments Corporation is jointly owned by Glencore Plc (81%) and First Quantum Minerals Ltd (19%). 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