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Glencore confirms completion of Mopani stake sale

31st March 2021

By: Creamer Media Reporter

     

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Diversified miner Glencore has confirmed that its 81.2%-owned subsidiary Carlia Investments Corp has completed the the sale of its interest in Mopani Copper Mines to Zambian State-owned ZCCM Investment Holdings (ZCCM-IH).

Glencore retains offtake rights in respect of Mopani’s production.

ZCCM-IH notes in a separate statement that it is pleased that the conditions precedent to the transaction have been satisfied.

"ZCCM-IH is now the holder of 100% of the issued shares in Mopani, transforming the company from an investment company to owning and operating a multibillion-dollar mining asset in Zambia. The board looks forward to providing shareholders with further updates on Mopani in the coming months," it states.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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