Zambia's Minister of Finance and National Planning said late Sunday that the country expects to select an investor to buy Mopani Copper Mines from four shortlisted companies by the end of this month.
Reuters reported last week that China's Zijin Mining, North Industries Group, Sibanye Stillwater and an investment firm owned by former Glencore officials were on the shortlist to buy Mopani.
"At the moment, they have been asked to submit a final offer," Situmbeko Musokotwane said in an interview with the state-owned Zambia National Broadcasting Corporation TV. An investor is expected to be selected by the end of July.
Zambian state holding company ZCCM Investments Holdings Plc agreed in January 2021 to buy Mopani from Glencore for $1 billion and $1.5 billion in debt, which has not yet been repaid.
Musokotwane said the government expects the solution for the Konkola copper mine to be completed within a similar timeframe. Vedanta Resources Ltd. is engaged in a legal battle with the Zambian government over its ownership of Konkola, which dates back to 2019.
