LUSAKA, July 14 (Reuters) – Zambia’s government has shortlisted companies that have submitted binding offers for Mopani Copper Mines and is “looking at 31st July to pick the winner,” Mines Minister Paul Kabuswe told a news conference on Friday.
Sources told Reuters last month that China’s Zijin Mining 601899.SS and Norinco Group, South Africa’s Sibanye Stillwater SSWJ.J and an investment vehicle owned by ex-Glencore officials had been shortlisted in the race to buy Mopani.
Switzerland-based commodities giant Glencore GLEN.L sold a 73% stake in Mopani to Zambian state firm ZCCM-IH in 2021 for $1.5 billion in a deal funded by debt, but it retained offtake rights of Mopani’s copper production until the debt had been repaid.
Source: Nasdaq
