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Zambia's ZCCM-IH in talks with Glencore about increasing stake in Mopani

Credit: REUTERS/ARND WIEGMANN

Glencore and Zambia's mining investment arm ZCCM-IH are in talks about ZCCM-IH potentially acquiring additional shares in Glencore subsidiary Mopani Copper Mines, Glencore and Zambia's mines minister said on Tuesday.

LUSAKA/JOHANNESBURG, Aug 25 (Reuters) - Glencore GLEN.L and Zambia's mining investment arm ZCCM-IH ZCCM.LZ are in talks about ZCCM-IH potentially acquiring additional shares in Glencore subsidiary Mopani Copper Mines, Glencore and Zambia's mines minister said on Tuesday.

ZCCM-IH currently holds a 10% stake in Mopani Copper Mines. Glencore is the majority owner with 73.1% and First Quantum Minerals FM.TO owns 16.9%.

Glencore said it was in discussions with ZCCM-IH "and other shareholders", adding that discussions were progressing and further updates would be issued as appropriate.

(Reporting by Chris Mfula in Lusaka and Helen Reid in Johannesburg. Editing by Jane Merriman)

((Helen.Reid@thomsonreuters.com; +27 66 156 5214))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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