Glencore International, the major shareholder in Mopani Copper Mine, has certainly stirred up a hornet’s nest which requires an eagle’s eye to examine all salient points.Clearly, Zambia feels that Glencore’s arbitrary decision to place Mufulira and Kitwe units under care and maintenance is a breach of trust.The decision was so sudden that miners and other employees at Mopani were caught off guard and greeted by shut premises as they reported for duties last week.Be as it may, Glencore has stood its ground, spurning Government’s advice to rescind the hasty decision when, under normal circumstances, partners are supposed to be on the same wave length.Yes, Glencore International AG is the majority shareholder at 73.1 per cent with First Quantum Minerals Limited holding 16.9 stake while Government through ZCCM-IH has 10 per cent but there ought to be mutual respect.A cursory look at history will unravel Glencore’s promise of heaven on earth.Zambians, and captains of industry in […]
Save Mopani!
