Mines Minister Clarifies Nothing Sinister About Mopani Deal As It was Transparently Done

By Staff Reporter 

Mines Minister Paul Kabuswe has clarified that the current investor for Mopani Copper Mines Delta Mining Limited did in fact bid for the Mopani transaction, contrary to assertions by some Patriotic Front members who are stating that the Mopani Copper Mines Deal is day light robbery.

The Mines Minister says government was smart in the manner it approached the Mopani transaction emphasising that records are there and will be tabled before parliament to show the firms that had bid for the Mopani transaction. 

 

Mr. Kabuswe explains that delta is a subsidiary of International Resource Holdings IRH of which IRH used Delta for purposes on investing in Mopani, adding that there is nothing sinister about the transaction as this is normal business practice.

He says it therefore cannot be daylight robbery because no sooner did delta successfully finish its bidding for the Mopani transaction, than it released 400 million United States Dollars to pay Glencoe the debt that was crippling Mopani.

 

Addressing the media, the Minister clarified that the Mopani transaction was transparently and professionally done emphasising that because of Delta’s investment in Mopani, the mine has ramped up its production to 37 percent in the last 6 months.