Glencore sold its stake in Mopani
(Kitco News) - Glencore today announces that its subsidiary Carlisa Investments, in which Glencore holds 81.2% of the shares, has completed the sale to ZCCM Investments Holdings of its 90% interest in Mopani Copper Mines, located in Zambia. As previously announced, the consideration of the transaction is US$1 and transaction debt of $1.5 billion.
Glencore said it will retain offtake rights in respect of Mopani’s copper production until the transaction debt has been repaid in full.
Mopani is an integrated copper producer located in the Copperbelt of central Zambia, producing copper cathodes.
Glencore is one of the world’s largest global diversified natural resource companies. The group's operations comprise around 150 mining and metallurgical sites and oil production assets.