Cash-strapped Zambia takes on $1.5 bln (R22.4 bln) debt to buy Glencore copper mine

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The sale comes after Glencore last year tried to suspend operations at Mopani due to low copper prices and COVID-19 disruptions, angering the government, which threatened to revoke the company's mining licences.

The sale comes after Glencore last year tried to suspend operations at Mopani due to low copper prices and COVID-19 disruptions, angering the government, which threatened to revoke the company's mining licences.

At a ceremony in Lusaka, Zambia's mines minister Richard Musukwa said the country will try to attract a new investor in Mopani, adding that"several entities" from Britain, Canada, China, Turkey, and Qatar have expressed interest.Zambia is Africa's second-biggest copper producer and mining is its main generator of hard currency.

 

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GLENCORE NEEDS TO BE KICKED OUT OF THE ENTIRE AFRICAN CONTINENT FOR THEIR TENDENCIES TO CAPTURE POLITICIANS IN THEIR WAY TO CAPTURE THE MINERAL RESOURCES OF THE CONTINENT.

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