Mopani Copper Mines to Place Operations on Maintenance

By Adriano Marchese

Mopani Copper Mines PLC said Tuesday that it will place its mining operations on maintenance as the coronavirus pandemic has forced the company to put its projects on hold.

The Zambian miner--a joint venture company in which Glencore PLC has a majority interest--said the mines will reduce operations to maintenance levels effective April 8, adding that its smelter and refinery has enough material to continue processing "until further notice."

The company said the operating, regulatory and macro-economic environments remain challenging and have continued to place "significant" pressure on the business, made worse by the decline in copper prices as well as global disruptions caused by the spread of the pandemic.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

April 07, 2020 11:15 ET (15:15 GMT)

Glencore (LSE:GLEN)
Historical Stock Chart
From Mar 2024 to Apr 2024