ZCCM Investments completed the acquisition of a 90% stake in Mopani Copper Mines from Glencore-backed Carlisa Investments for $1.5bn.

Zambia Consolidated Copper Mines Investments, a provider of premier diversified mining investments and operations, completed the acquisition of a 90% stake in Mopani Copper Mines, a Zambian copper mine company, from Glencore-backed Carlisa Investments for $1.5bn. Glencore continues to retain offtake rights in respect of Mopani’s production. Glencore was looking to offload its Mopani assets in part due to its repeated confrontations with the Government of Zambia.