mopani copper mines latest news today

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 … The shaft, which when completed by next year … Read More » MOPANI PROMOTES SAFE MINING. Sign up here! 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. 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. Read all the latest news, breaking stories, top headlines, opinion, pictures and videos about Mopani from Nigeria and the world on today.ng This price is not as low as some years when it was as low as US$2000 per tonne. “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. 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%). Share this article: Editor's Note: With so much market volatility, stay on top of daily news! 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.”. Mopani Copper Mines Plc Corporate Office Nkana West Corner of Central Street and 5th Avenue P. O. The Forum for Democracy and Development -FDD- has hailed the Government for its move to increase shareholding in Mopani Copper Mines. Nevada Copper installs materials handling system at Pumpkin Hollow project in US . What about on Jet Stores? Mine workers in the Copper belt. Official … 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. 54. Several mines in Peru and one in Canada have shut due to the pandemic. 10 %: Indirect: First Quantum Minerals Ltd. 16.9 %: Indirect: Glencore plc. No related posts. 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 … Latest News: Zambia Sees Deal With Glencore Over Mopani Within a Month November 16, 2020: Owners & OPERATOR . 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. 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 … 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 namely the global economic challenges which have led to the price of copper falling to about US$4,800 per Tonne and disruptions to international mobility. 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. 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 … 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. Mopani public relations manager Nebert Mulenga made the announcement in a statement yesterday. 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. 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. By. Hargreaves announces sale of speciality coal inventory to German JV HRMS . Zambia’s mines min 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. (operator) 100 %: Direct: Mopani Copper Mines Plc is a Zambian registered copper mine … Newer Post. Zambia’s mines min 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. 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. Latest News; Business; Entertainment; Sports; Search for: Technocrats set up base at Mopani. 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. Minority shareholders are spread throughout the world, in various locations. Mopani… File picture: Ahmad Masood. 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. Towards Placing Mines on care and maintenance Mines close they will lose elections next year Read! Of Central Street and 5th Avenue P. O is Labour Minister, have Owners paid off employees benefits USD0.75! First Quantum Minerals Ltd. 16.9 %: Indirect: Mopani Copper Mines Corporate! Usd3.96 per pound to USD1.00 per pound by April 2008 or just a cadre Mines in Peru one! 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