Zambia's state-owned ZCCM Investment Holdings says that China's Zijin Mining and Sibanye-Stillwater are among the potential buyers of Mopani Copper Mines.
Other companies interested in the copper mine include China's Norinco Group, and an investment entity owned by ex-Glencore officials, according to Reuters, which cited sources,
The hunt for a new investor for Mopani is expected to be completed within the next two months, according to ZCCM-IH CEO Ndoba Vibetti during a mining conference in London.
He estimated that the mine will require at least $1 billion in financing over the next five to six years.
Bringing in a new investor at Mopani is part of Lusaka's aim to treble copper output in Africa's second-largest producer over the next five years.
The Mopani mine and smelting complex currently requires between $200 million and $300 million in short-term investment to be viable, according to Vibetti.
Glencore sold a 73% share in Mopani to ZCCM-IH in 2021 for $1.5 billion in a debt-financed transaction, although it kept offtake rights to Mopani's copper production until the loan was fully returned.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
