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Five Egyptian nationals who were aboard a private plane carrying millions in cash, gold, and weapons, open-source investigations claim

3 Min Read LUSAKA (Reuters) - Zambia’s state mining investment arm ZCCM-IH has agreed to buy Glencore’s majority stake in Mopani Copper Mines in a $1.5 billion deal funded by debt and will seek a new investor, the government said on Tuesday. The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, November 20, 2012. REUTERS/Arnd Wiegmann/File Photo The sale follows Glencore’s attempt to suspend operations at Mopani last year because of low copper prices and COVID-19 disruptions, prompting a government threat to revoke the compa...

ZCCM-IH has agreed to take over Glencore’s majority stake in Mopani Copper Mines in a $1.5 billion deal funded by debt, and will look for a new investor, Mines Minister Richard Musukwa has announced. The sale comes after Glencore last year tried to suspend operations at Mopani due to low copper prices and COVID-19 disruptions, angering the government, which threatened to revoke the company’s mining licenses. At a ceremony in Lusaka, Mr. Musukwa said the country will try to attract a new investor in Mopani, adding that “several entities” from Britain, Canada, China, Turkey, and Qatar h...

Zambia's state mining investment arm ZCCM-IH has agreed to take over Glencore's majority stake in Mopani Copper Mines in a $1.5 billion (R22.4bln) deal funded by debt, and will look for a new investor, the government said on Tuesday.