ZCCM IH has indicated that discussions around the future of Mopani are currently still under discussion, according to a statement released by the company.

“Further to the cautionary announcement date 4th September 2020, ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company”) wishes to advise Shareholders and the market that the Company’s discussions with Glencore Finance (Bermuda) Ltd regarding the future of Mopani Copper Mines Plc (“Mopani”) are still in progress which, if successfully concluded may have a material impact on the price of the Company’s securities”, read a statement issued by order of the Board through Company Secretary Chabby Chabala in Lusaka on 21 December 2020.

ZCCM-IH is in discussions with Glencore Finance (Bermuda) Ltd regarding the future of Mopani Copper Mines Plc (“Mopani”) for some time now. Glencore Finance is the major shareholder of Carlisa Investments Corporation which in turn is the majority shareholder of Mopani.

In August 2020, Mining-journal.com report that Mines minister Richard Musukwa told Reuters ZCCM-IH was seeking a larger stake “with a view to holding a controlling stake in Mopani”. Although the SENS announcements from ZCCM have not indicated that ZCCM IH are seeking a larger stake, this is the reason why they have advised Shareholders to exercise caution when dealing in the Company’s securities until a full announcement is made.

Discussions with the mining company and the investment group were prompted when Glencore CEO Ivan Glasenberg confirmed Mopani was operating under care and maintenance.

Source: http://fizambia.com/?p=9355