trending Market Intelligence /marketintelligence/en/news-insights/trending/FMD9mYEIv3tj_D-WrmhdEg2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Glencore's Mopani Copper Mines shutters 2 shafts at Nkana mine in Zambia

Mining Exploration Insights December

Mining Exploration Insights: Dip in gold drilling weighs on results

Mining Exploration Insights: Is the exploration sector back on recovery?

State of the Market: Mining Q2-2019

Glencore's Mopani Copper Mines shutters 2 shafts at Nkana mine in Zambia

Glencore PLC unit Mopani Copper Mines PLC shut down the Mindola north and central shafts at its Nkana copper mine in Zambia, in a move that was previously announced in mid-May, Reuters reported Aug. 8, citing a company statement.

A Mopani spokesman said the company can now use the funds to complete other expansion projects.

The company did not say how many workers were affected, however, according to the president of the opposition Democratic Party, Harry Kalaba, 1,400 contract jobs were lost as a result of the move.

Mopani previously said that the shafts have reached their end of economic life and it can no longer afford to operate old and inefficient shafts.

Glencore recently announced the closure of the Mutanda copper-cobalt mine in the Democratic Republic of the Congo due at the end of the year on slumping cobalt prices and rising costs.

The mining giant booked a 92% slump in attributable net income to US$226 million, or 2 US cents per share, in the first half mainly driven by lower average year-over-year commodity prices and impairment charges at its African copper and Chad oil portfolios.