Glencore to restart operations at Mutanda copper, cobalt mine in DRC in 2022

DRC – Anglo-Swiss multinational mining company Glencore has announced plans to restart operations at Mutanda, the world’s biggest cobalt mine that also produces large amounts of copper in the Democratic Republic of Congo in 2022, a source with direct knowledge of the matter told Reuters. Glencore, one of the world’s largest copper producers and leading cobalt producer, said in February 2021…

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Tanzania and Kabanga Nickel strike deal on mining joint venture

TANZANIA – The government of Tanzania and UK-based mining firm Kabanga Nickel Limited have signed a framework agreement to jointly develop the Kabanga nickel project formerly owned by Barrick Gold and Glencore. Tanzania’s Foreign minister Palamagamba Kabudi said during a signing ceremony in Bukoba that the government would own a 16% undiluted free-carried interest in the nickel project through a…

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Zambia to buy majority stake in Glencore copper mine for US$1.5b

ZAMBIA – State mining investment arm ZCCM-IH has agreed to buy Glencore’s majority stake in Mopani Copper Mines in a US$1.5 billion deal funded by debt and will seek a new investor, the government said in press statement. The copper mine sale follows Glencore’s attempt to suspend operations at Mopani last year because of low copper prices and COVID-19 disruptions,…

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Commodities trader Glencore set to sell its stake in Mopani Copper to ZCCM-IH

ZAMBIA – Glencore, a commodities trader, is set to sell its entire stake (73.1%) in Mopani Copper Mines (MCM) to the Zambian Government’s mining investment unit ZCCM-IH. Mopani Copper Mines (MCM) is currently 73.1% owned by Glencore, 16.9% by First Quantum Minerals and the remaining 10% by ZCCM-IH. The latest news comes as the commodities major doesn’t want to just…

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Congo Republic seeks debt deal with Glencore and Trafigura before IMF review

CONGO – Congo Republic aims to reach a deal with energy traders Glencore and Trafigura to restructure a US$1.7 billion debt before a meeting with the International Monetary Fund (IMF) in April 2020. Maixent Raoul Ominga, director general of state-owned SNPC, said lawyers for Congo Republic were working with representatives of Glencore and Trafigura to get all the parties talking.…

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South Africa’s Competition Commission nods Glencore’s Chevron merger

SOUTH AFRICA – The Competition Commission of South Africa has recommended that the Competition Tribunal conditionally approve Glencore’s proposed acquisition of the Chevron SA assets. However, the commission highlighted that the proposed transaction had raised public-interest concerns and hence has recommended its approval subject to a number of conditions, Business Daily reports. As part of the conditions, the commission recommends…

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