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Glencore rescinds its Mopani copper mine decision

By NATION REPORTER
GLENCORE will reverse its earlier decision to shut its Zambia subsidiary Mopani Copper Mines if it reaches an agreement with the Zambian government, the company has said.
The company said if an agreement was reached, Mopani would re-start mining operations and issue a notice of its intention to place the mining operations on care and maintenance after 90 days.
“If an agreement is reached Mopani will re-start mining operations and issue a notice of its intention to place the mining operations on care and maintenance after 90 days,” Glencore said.
In a statement, Glencore said during the 90 day period, Mopani would continue to engage with the government on potential solutions to its current challenges.
Glencore wanted to shut the mine due to disruptions of its operations by the Coronavirus crisis and low copper prices, while the Mines Minister has said the company is “fishing” for ways to lay off workers, and 11,000 jobs could be at risk.
Glencore’s announcement of the temporary shutdown on April 8 sparked a backlash from the government, saying Glencore did not give it sufficient notice and threatened to revoke MCM’s mining licences.
Meanwhile, Charles Sakanya, chief engineer has been appointed as Mopani Copper Mine acting hichief executive officer after the government allowed CEO Nathan Bullock to leave the country.

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