Glencore sells majority stake in Mopani copper mine for $1.5bln

Glencore has agreed to sell its 73% stake in the Mopani copper mine in Zambia to the Zambian state mining investment arm, the Swiss commodity trader said on Tuesday January 19.

Mopani, currently funded by Glencore's subsidiaries - including Carlisa Investments - will owe US$1.5 billion to Glencore group creditors upon the completion of the deal.

From 2021 to 2023, Glencore will receive 3% of the Mopani mine’s gross revenue and from 2024 onward,...

Published

Julian Luk

January 19, 2021

10:05 GMT

Hong Kong