Copper Zambia: Glencore plans to sell its stake in Mopani Copper Mines to the state
Glencore could leave Zambia, handing over its copper assets to the state. At least this is what Reuters reports, which justifies this by the country's desire to acquire a majority stake in the local subsidiary of the Swiss giant. An amicable solution could nevertheless be successful. The mining company Glencore prefers to sell all of its stake in Mopani Copper Mines, its subsidiary in the Zambian copper sector, rather than become a minority shareholder. According to various sources relayed by Reuters, this decision follows the will of the government expressed last Tuesday, through the voice of Richard Musukwa, Minister of Mines, to increase to at least 51% its stake in the local subsidiary of the Swiss giant, against 10% currently. It must be said that tensions between Glencore and the Zambian state have revived in recent months, due in particular to the company's desire to suspend its copper mining and processing operations due to the Covid-19 pandemic. The gov...