Mopani Investor Shortlisting Elates Stakeholders
Written by Mafken FM Newsroom on 21 June 2023
Stakeholders in the Mining sector have expressed excitement over the shortlisting of Mopani Copper Mines would-be investors.
On Monday, June 19th 2023, Reuters reported that, four firms have been shortlisted in a race to buy Mopani Copper Mines, naming China’s Zijin Mining and Norinco Group, South Africa’s Sibanye Stillwater and an investment vehicle owned by ex-Glencore Official.
In 2021, mining giant, Glencore sold a 73% stake in Mopani to ZCCM-IH for $1.5 billion in a deal funded by debt, but retained offtake rights of the mines copper production until the debt had been repaid in full.
And, a non-governmental organisation, Action for Development says the shortlisting of the would-be investors has given hope to Zambians that soon an investor will be seen at the mining firm to start serious operations.
Organisation Executive Director, Joseph Simumba has however, indicated that, care should be taken by Government to conduct a proper background check of each and every shortlisted investor in order to understand their previous operations with regard to tax payments and employees conditions of service.
And a Concerned Ex-Miner, Peter Kumwenda has urged government to expedite the selection of an investor to run Mopani Copper Mines.
And a Mufulira resident, Geoffrey Luchele who is also former Mufulira Central Constituency aspiring Candidate, says government should prioritise investors that will seriously focus on Cooperate Social Responsibility in order to enrich communities surrounding Mining firms.
By Dockiso Zulu
