CONTINUED DELAY IN SELECTING EQUITY PARTNER FOR MOPANI WORRYING

Economist Mathews Muyembe is urging government to expedite the selection of an investor to manage Mopani Copper Mines, citing potential repercussions on the country’s copper output if delays persist.

Following a Reuters report on June 19th, 2023, which identified four firms shortlisted to acquire Mopani Copper Mines which included China’s Zijin Mining and Norinco Group, South Africa’s Sibanye Stillwater, and an investment vehicle associated with a former Glencore official, there has been no announcement regarding the selection of an investor to oversee the mine’s operations.

Mr Muyembe is concerned over the government’s continued delay, noting its adverse effects on the well-being of the Copperbelt, given the province’s heavy reliance on mining investment and activities.

Further, Mr Muyembe is worried that the continued inactivity of the mine could lead to asset stripping, potentially escalating the required investment amounts needed to revitalize the operations.