Glencore’s Zambia subsidiary to restart mining ops temporarily

Glencore’s Zambia subsidiary to restart mining ops temporarily

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Glencore’s (OTCPK:GLNCY) Mopani Copper Mines will resume mining for 90 days following talks with Zambia’s government, then will go ahead with its initial plan to place its mining operations on care and maintenance.

Glencore’s original plan to place MCM under care and maintenance due to the coronavirus, weak copper prices and other issues prompted a backlash from the government, which threatened to revoke its licenses for not giving enough notice.

Zambia’s mining minister says the government will continue talks with Mopani to seek a sustainable solution going forward.

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