Glencore to Invest $950 Million Upgrading Zambia Copper Mine
- Investment to extend Mopani mine life to be made by 2018
- Number of job cuts due to 18-month shutdown not finalized
Children play on a tree swing on waste ground near the Glencore's Mopani Copper mine.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
Glencore Plc plans to invest $950 million over three years to expand operations at its Mopani Copper Mines as part of a plan to refurbish assets and lower production costs in Zambia.
The Swiss mining company last month announced it’s halting production for 18 months in Zambia, Africa’s second-largest copper producer, in response to a drop in prices for the red metal.