Glencore Zambia unit has advised that it will be shutting down two of its uneconomic units in Africa’s second largest copper producer Zambia. This was contained in a press release dated 10 May. Mopani Copper Mines Plc, will cease operations at its Mindola North and Central shafts as they have outlived their useful lifespan. The miner instead focus its efforts on essential capital projects which include the Synclinorium concentrator, Mindola deeps and Henderson shaft in Mufulira.
“We believe this approach will enable us to focus on achieving both safe and productive outcomes which are essential to position Mopani for a successful future,” the press release carried.
The miner sated that closure of these units was always part of the plan as it commissioned the new shafts, however, the action is nonetheless being taken sooner than originally planned because the company has limited resources and can no longer afford to operate these old and inefficient shafts.
The closure of the two uneconomic shafts will allow Mopani apply the funds provided by its parent Glencore Corporation towards the completion of the expansion projects, which represent the future of the company and mining by Mopani on the Copperbelt of Africa.
This action however will result is loss of human capital both at direct employee and contractor job level. Mopani will engage with the Unions and all affected employees and contractors to provide them with the appropriate support.
