Home Business and Technology Acquisition Of Mopani Mine Formalities Completed

Acquisition Of Mopani Mine Formalities Completed

0
Mopani Copper Mines

Government has announced that all the formalities for the total acquisition of Mopani Copper Mine by ZCCM-IH have been completed. Mines Minister RICHARD MUSUKWA says ZCCM IH has been tasked to inject new capital and revamp all production lines at the mine.

And Mr MUSUKWA says there has overwhelming interest from international firms seeking to become equity partners for ZCCM IH in running Mopani Mine. He was speaking to ZNBC news in a telephone interview today.

And Mr MUSUKWA said government will strictly monitor the operations at Mopani to ensure total adherence to good corporate governance. He said local contractors and suppliers will be prioritised in the award of contracts as a means of ensuring citizens benefit from their mineral wealth.

Mr MUSUKWA also said all qualified staff are assured of job security and management changes take effect. He said the Mine will thrive through highest levels of professionalism and commitment.

Mr MUSUKWA said President EDGAR LUNGU wants citizens to fully benefit from their mineral wealth as the PF government usheres the country on a new economic trajectory where nobody is left behind.

ZCCM INVESTMENTS HOLDINGS PLC announced in January its plans to buy Glencore’s stake in Mopani Copper Mine. Glencore’s subsidiary Carlisa Investments Corporation later signed an agreement with ZCCM Investments Holding to transfer its 90% interest in Mopani Copper Mines to ZCCM IH. ZCCM IH already holds a 10% stake in Mopani.

In Other News: Fuel supply stabilizes in Luanshya

Luanshya district had experienced a fuel shortage the past two days following a protest by fuel tanker drivers who had refused to distribute the commodity countrywide, protesting the reduction of their allocation rates to match that of their foreign counterparts.Fuel

A spot check revealed that until this afternoon, only one out of the five filling stations in the district had petrol in stock while four…learn more