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Mopani deal: Chance to prove Zambia’s ability

NKOMBO KACHEMBA, PRISCILLA MWILA
Kitwe, Lusaka
THE change of the shareholding structure in Mopani Copper Mines (MCM), which has resulted in Government having a 100 percent stake in the company, has elated local mine suppliers and contractors, who anticipate a business boom.
And some economic players have welcomed the 100 percent acquisition of shares in MCM because Zambians have the capacity to run their own mines.
Through Zambia Consolidated Copper Mines-Investment Holdings (ZCCM-IH), Government on Tuesday completed the 100 acquisition of MCM, which has an asset base of US$1 billion, after 21 years of being in private hands.
Last year, ZCCM-IH expressed interest in having a controlling stake in Mopani and engaged Glencore, the majority shareholders.
Glencore had a 73.1 percent stake in MCM, First Quantum Minerals had 16.9 percent, while ZCCM-IH had 10 percent shares in the CLICK TO READ MORE




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