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Posts tagged as “Mopani Copper Mines”

Mopani in pay bonanza! …Unionised employees awarded 13 p.c. salary increment

By KENNEDY MUPESENI – International Resource Holding (IRH), the new equity partners in the Mopani Copper Mines (MCM), has through management awarded unionised employees a 13 per cent salary increment effective January this year.Management has also increased the funeral grant from K3,000 to K10,000 and introduced incentive bonuses to raise employee morale.And the mine is […]

‘Opposition inciting miners’

By CHUSA SICHONE – MINES and Minerals Development Minister Paul Kabuswe has accused opposition politicians of inciting Mopani Copper Mines (MCM) workers to go on strike.a salary of up to $1000 and a Toyota Mark X vehicle as part of their new conditions of service. Read more

AG explains MCM deal

By JAMES KUNDA – THE takeover of the Mopani Copper Mines (MCM) by Delta Mining Limited (Delta) a subsidiary of International Resources Holdings Limited did not require National Assembly approval because the company was not a parastatal or a company that the Government had equity.Mr Kabesha said in a statement issued in Lusaka yesterday, in […]

State lauds Sangwa on Mopani but…

By GEORGE SINKALA – THE Government has applauded Lusaka lawyer John Sangwa for welcoming the takeover of Mopani Copper Mines by International Resources Holding (IRH) of Abu Dhabi, United Arab Emirates (UAE) but disagreed with his sentiments that the transaction was ‘illegal’.In an interview in Lusaka yesterday, Chief Government Spokesperson Cornelius Mweetwa said it was […]

US$60,000 for Nkana Golf Club remake

By FELIX MALUNGA – AFTER being given the rights to stage the revived Zambia Open Golf Championship this year, Nkana Golf Club has pumped US$60,000 into the remake of the golf course.Zambia Open Organising Committee (ZOOC) Vice Chairperson Noel Simwanza said the Kitwe club wanted to ensure the golf course was in the best condition […]

Mopani sale legal – AG

By EMILY KUWEMA – ATTORNEY General Mulilo Kabesha has maintained that the sale of 51 per cent of the Zambia Consolidated Copper Mines Investment Holdings (ZCCM-IH)’s shares in the Mopani Copper Mines (MCM) was legal and challenged those protesting to go to court.Mr Kabesha, who is chief Legal advisor to government, said in Lusaka yesterday […]

‘Mopani revival good for economy’

By ANDREW MULENGA and MAYA NTANDA – SOME Kitwe residents and stakeholders have commended the government for the revival of Mopani Copper Mines (MCM) which they say was almost collapsing.The residents and stakeholders say the finalised deal between the Government and International Resources Holdings (IRH) was a positive move which would help revitalise the economy […]

Mopani sale legal – Kabuswe

By SHARON KALIMBULA, GEORGE SINKALA and CHUSA SICHONE – THERE is nothing illegal about the sale of 51 per cent shares in Mopani Copper Mines (MCM) to Delta Mining Limited, Mines and Minerals Development Minister Paul Kabuswe has said.Mr Kabuswe also dismissed claims that President Hakainde Hichilema sold the MCM shares to himself. Read more

New Mopani partner promises turnaround

By ESTHER NG’ANDU and KENNEDY MUPSENI – INTERNATIONAL Resource Holdings (IRH) the new equity partner in the Mopani Copper Mines (MCM) has pledged to turn the fortunes of the mine around.IHR chief executive officer Ali Alrashdi said the investor would redefine industry standards, create value for stakeholders and make a positive Impact on the communities.Mr […]

Mopani fires up!

By KENNEDY MUPESENI and ESTHER NG’ANDU – PRESIDENT Hakainde Hichilema envisages that the resuscitation of the Mopani Copper Mine (MCM) will spur a new lease of life on the Copperbelt and wholesomely boost the Zambian economy.The President has also stated that this development will instigate the reduction of the mine’s debt stock from a staggering […]

Mopani is back!

By KENNEDY MUPESENI – TODAY, President Hakainde Hichilema and his government own the bragging rights. This deservingly so as he graces the official hand over of the Mopani Copper Mines (MCM) to International Resources Holding (IRH), the new operator.It has indeed been a long time coming.The Mopani fairytale has finally come true, and to the […]

ZCCM-IH approves $1.1bn Mopani investment

By CHATULA KANGALI – ZCCM-Investment Holdings (ZCCM-IH) shareholders have approved a US$1.1 billion capital investment by International Resources Holding RSC Ltd, for the 51-per cent interest in Mopani Copper Mines (MCM).The capital investment is through the International Resources Holding wholly-owned subsidiary, Delta Mining Limited.The shareholders have also approved the formation of a strategic partnership with […]

Zambia Open Golf thrills back!

By KALUMIANA KALUMIANA – THE Zambia Open Golf Championship returns this June at the Nkana Golf Club in Kitwe after a five-year hiatus with the prize money of R2.5 million.Organising committee chairperson Phil Harrold said at the official launch held at Mopani Copper Mines (MCM) head office in Kitwe yesterday that the mining firm would […]

Kwacha will rebound sharply, assures Musokotwane

By JAMES KUNDA – FINANCE and National Planning Minister Situmbeko Musokotwane has projected a sharp rebound of the Kwacha in due course, attributed to a resurfacing mining sector.Dr Musokotwane revealed that International Resources Holding, the new investor in Mopani Copper Mines, would soon release US$80 million as part of reviving asset operations, which would be […]

‘Mopani deal to stabilise Kwacha’

By ANDREW MULENGA – THE disbursement of funds from Bretton Woods Institutions and the sealed Mopani Copper Mines (MCM) deal will indirectly move to balance the demand for the United States Dollar on the local market, PricewaterhouseCoopers (PwC) has said.PwC Country Senior Partner Andrew Chibuye said the two disbursements from the World Bank and the […]

Mopani revival nears!

By JOSEPH BANDA – PRESIDENT Hakainde Hichilema and technical experts are working expeditiously to conclude the Mopani Copper Mines (MCM) issue saying he hopes it will be done before the end of the year and even before Christmas.President Hichilema said it was important for Zambians to see MCM revived and become operational.The President said this […]

Mopani mine equity partner: State commended

By ANDREW MULENGATHE Mine Suppliers and Contractors Association of Zambia (MSCAZ) has commended the Government’s decision to select International Resources Holdings (IRH) Limited as an equity partner for Mopani Copper Mines (MCM).MSCAZ president Costa Mwaba said in an interview that IRH had no history of mismanaging any mine in Africa thus making them a trustworthy […]

Unlocking of Mopani, KCM cheers captains of industry

By KENNEDY MUPESENI – THE Zambia Chamber of Commerce and Industry (ZACCI) has said the revival of Mopani Copper Mines (MCM) and Konkola Copper Mines (KCM) will boost the economic prospects on the Copperbelt and beyond.Speaking during the Kitwe District Chamber of Commerce and Industry (KDCCI) Gala and Award Dinner on Friday evening, ZACCI president […]

Govt unlocks Mopani

By NAMWINGA MWINGA – THE Government has announced International Resources Holdings Limited of Abu Dhabi as a strategic equity partner for Mopani Copper Mines (MCM).The new investor is an affiliate of Abu Dhabi Conglomerate International Holding Company.Mines Minister Paul Kabuswe said at Press briefing in Lusaka yesterday the announcement followed a strategic review meeting of […]