Local News

Mopani shares transfer to conclude by end of December

WE will finalise the negotiations on transferring shares from Glencore to ZCCM-IH before the end of the month, Ministry of Mines and Mineral Development Permanent Secretary Banarby Mulenga has said.

Mr Mulenga said progress had been made in ensuring that the negotiations come to an end. He said the team mandated to negotiate with Glencore had done a good job so far.
He said in an interview yesterday, in less than one month the negotiations would be concluded.
National Union for Miners and Allied Workers (NUMAW) appealed to Government to ensure that the negotiations were expedited.
NUMAW president James Chansa observed that the negotiations had taken long which needed to be concluded now.
But Mr Mulenga assured the nation that progress had been made.
Mr Mulenga said “Any time soon Glencore which has the majority share in Mopani Copper MineS (MCM) would transfer the 71 percent to ZCCM-IH.
“Progress has been made in ensuring that Glencore transfers shares to ZCCM-IH. I can assure the nation that in less than one month the negotiations will be concluded,” Mr Mulenga said.
He said Government was doing everything to ensure the mining firm was in safe hands.
Recently Glencore offered to hand over all the shares to Government. This came to light after it requested to increase its shares in Mopani Copper Mines.

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