Breaking News 3852. 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. The mine accounts for about … Glencore engaged Grit Consulting of Australia, a change management consulting firm, to undertake a thorough Mopani mine-wide audit … Search all the latest Mopani jobs in limpopo. 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. “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. The Forum for Democracy and Development -FDD- has hailed the Government for its move to increase shareholding in Mopani Copper Mines. Share this article: Editor's Note: With so much market volatility, stay on top of daily news! Zambia News; Govt rejects Mopani Copper Mines’ plans to place the mine under care & maintenance. What about on Jet Stores? Minority shareholders are spread throughout the world, in various locations. The post Mopani Moves Towards Placing Mines On Care And Maintenance appeared first on Phoenix FM. Some of the employers who attended a meeting said the miners were told to prepare their minds for … Mopani public relations manager Nebert Mulenga made the announcement in a statement yesterday. 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. 7 months ago editor. Hargreaves announces sale of speciality coal inventory to German JV HRMS . Latest News: Zambia Sees Deal With Glencore Over Mopani Within a Month November 16, 2020: Owners & OPERATOR. 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. 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. Source: Company Interest Ownership; ZCCM Investments Holdings Plc. The buyer would be ZCCM-IH, Zambia’s state-owned mining company which … According to reuters, global mining company Glencore’s Zambian unit Mopani Copper Mines (MCM) made the announcement in a statement. 4 months ago editor. And since we acquired Mopani in 2000, our investments total more than $4.4bn. 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. 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. THE BUSINESS TIMES Mopani Copper Mines - Find Mopani Copper Mines News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. Zambia News; Editor’s Choice; Letters to Editor; About; Advertise ; Racism continues running Mopani Copper mine. Newer Post. 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%). “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. Company Profile. In a statement released late Tuesday in reaction to Mines … Great move on MCM. 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. All Rights Reserved. Mr. Mtayachalo who is also FDD … Rajan Dhall Tuesday November 17, 2020 07:50. Mopani Copper Mines Plc Corporate Office Nkana West Corner of Central Street and 5th Avenue P. O. And the unions have further demanded that Mopani … 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. Metso Outotec sells aluminium business to REEL International . Between the year 2000 and today, the price of Copper has fluctuated from as low as US$2000 to US$9900 per tonne. Between the year 2000 and today, the price of Copper has fluctuated from as low as US$2000 to US$9900 per tonne. 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. Mopani Copper Mines management has warned workers of a possible shutdown if the Copperbelt Energy Corporation (CEC) does not compromise on tariffs. 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. Where is Minister of Commerce, does PF government care about job losses in this sector? Mopani says it will go ahead and place its Nkaka and Mufulira mines on care and maintenance with effect from today. 10 %: Indirect: First Quantum Minerals Ltd. 16.9 %: Indirect: Glencore plc. 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 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. 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). 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 shaft, which when completed by next year … Read More » MOPANI PROMOTES SAFE MINING. But Mr. Mubanga says the one month contract offers by Mopani to the contractors signifies that the mine is not ready to have long term operations and erodes confidence on the future of the mine especially that the performance of contractors who are already on site will be affected while their employees will also be adversely affected. 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 … 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. 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, 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. Latest Annual Report Extracts; Latest News; Document Uploads; Profile Brief. 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. It is therefore shocking that this circumstance of copper being at US$4,800 Per tonne can reasonably be considered as beyond the control of MCM, which had weathered worse price fluctuations in the past. According to reuters, global mining company Glencore’s Zambian unit Mopani Copper Mines (MCM) made the announcement in a statement. “It is with deep regret that Mopani Copper Mines Plc confirms an incident of a fatal underground fire at Mindola North Shaft in Kitwe on Thursday, 7 February, 2019 at 13.45 hours. 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. Mine workers in the Copper belt. Lungu Wins Tight Presidential Election; ECL 1, 860, 877 Hichilema 1, 760, 347, Muvi TV & Komboni Radio Licences Revoked For Alleged Misconduct, Pres. 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. Zambia to block Glencore's plan to close Mopani Copper Mines – Reuters. Mines minister, Richard Musukwa threatened to have Mopani Copper’s mining licence suspended, adding that the move was unjustifiable and illegal. Steel. Home / General News / Mine unions urge govt to grant reliefs to Mopani. By Darious Kapembwa on November 11, 2019 MOPANI Copper Mines has announced the appointment of Nathan Bullock as its new chief executive officer. 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. Your email address will not be published. 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%). 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’s mines min In 2018, we paid more than USD84 milion in taxes, royalties and other payments to government. Minority shareholders are spread throughout the world, in various locations. Zambia's Mopani Copper Mines (MCM) has shut down its Mufulira smelter for major refurbishment, the Glencore-owned company said on Monday. Talks as laid out in today’s announcement may include potential improvements that the Zambian government could make to its mining sector’s regulatory environment. 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. “Yesterday on Monday 6th April 2020 at 14hrs, we held a video conference involving Glencore Head of Copper Africa Mark Davies, Nathan Bullock CEO Mopani Copper Mine (MCM), with myself and our respective technocrats. Latest news. Zambia’s Mopani Copper Mines (MCM) has shut down its Mufulira smelter for major refurbishment, the Glencore-owned company said on Monday. 10 %: Indirect: First Quantum Minerals Ltd. 16.9 %: Indirect: Glencore plc. Dec 15, 2020 @ 18:17 More news Steel. 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. Elim Mining secures first tranche of equity financing . Escondida is majority owned and managed by BHP (57.5%), with Rio Tinto (30%) and Japan Escondida (12.5%) the other joint owners. He stated that the price of copper per tonne has been fluctuating for many years. 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. 16 April 2020 05:21 The PF government last evening detained Mopani Copper Mine CEO as he tried to leave the country . 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. And since we acquired Mopani in 2000, our investments total more than $4.4bn. © 2021 Zambia Reports. Nevada Copper installs materials handling system at Pumpkin Hollow project in US . Zambia’s mines min This is just politicking . 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