(Corrects Oct 5 story to show Glencore sold to Zambia's statemining investment firm ZCCM-IH, not to the state) JOHANNESBURG, Oct 5 (Reuters) - Sibanye-Stillwater has expressed an interest in Zambia's Mopani CopperMines, the mine and smelter complex looking for new investorsafter Glencore sold the asset to state mining investment companyZCCM-IH in January last year, CEO Neal Froneman said onWednesday. Froneman said Sibanye had registered an interest around ayear ago, and that "we remain interested".
ZCCM-IH hired Rothschild in June to help find anew investor to upgrade and expand it.
"We like Zambia, we like what the new president is doingthere," Froneman said.
Sibanye, which mainly produces platinum group metals andgold, has expanded into battery metals including lithium andnickel through a string of acquisitions. Zambian President Hakainde Hichilema, elected in August2021, has overseen reforms in the mining tax regime in a bid toattract new investment and boost production in Africa'ssecond-biggest copper producer.
Mopani, which is more than 90 years old, has the potentialto produce 225,000 tonnes of copper annually, nearly three timesits expected 2022 production, but it needs investment of atleast $300 million to fund a complicated underground expansion. (Reporting by Helen ReidEditing by Jason Neely and David Goodman)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.