“We firmly believe that we shall be able to overcome the challenges that we face today as a company and become profitable and operationally-efficient,” Mopani Copper Mines (MCM) said in a statement.
The investments would be made between now and 2018 and it was expected that Mopani would be turned into a world-class mining operation by 2023, it said.
Glencore was fully committed to Mopani and had invested over$3 billion in upgrading infrastructure and in major capital expansion programmes since 2000, Mopani said.
An electricity shortage in Africa’s second-biggest copper producer and weaker prices have put pressure on Zmbia’s mining industry, threatening output, jobs and economic growth.
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