Zambia's Mopani Copper Mines' output declined in the first-half of this year contributing to deeper losses at the operation bought from Glencore in 2021. Mopani's losses worsened to $196-million in the six months through June, compared to $120-million in the prior period, as output dropped and costs rose, parent company ZCCM-IH said in a statement. Copper output during the period declined to 14 946 t from 20 000 t in the same period last year.
Zambia's Mopani Copper Mines' output declined in the first-half of this year contributing to deeper losses at the operation bought from Glencore in 2021.
The loss is a further blow to the company's finances after it suffered a $298-million loss last year compared to $74.2-million in 2021. Since then, ZCCM has been searching for a new investor to take over the Mopani assets. A process to sell the mines is being managed by Rothschild & Co and could be completed by December, ZCCM said.
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