Mopani

Scheduled tonnages of concentrate presented to the Mufulira Smelter of Mopani Copper Mines Plc ( "Mopani") (owned by Glencore / First Quantum Minerals), whilst in accordance with contract specifications, have not been accepted for delivery by Mopani and Glencore to date.

WA Business News - Latest News 2009

"Due to serious concerns about Glencore's governance, which have been brought to light recently and which go far beyond the Mopani investment, the President of the EIB has instructed the services to decline any further financing request from this company or one of its subsidiaries," the EIB said.

Glencore in Zambia Tax Probe Devon Maylie 2011

JOHANNESBURG—The European Investment Bank said Wednesday it is investigating tax evasion accusations against commodity trader Glencore International PLC in Zambia, where it is the majority owner of Mopani Copper Mines PLC., and has frozen further funding to the group.

Glencore in Zambia Tax Probe Devon Maylie 2011

"In the event that this investigation were to conclusively demonstrate tax evasion according to the Zambian authorities this would clearly expose Mopani Copper Mines to local financial penalties and lead to events that may trigger early repayment of the EIB loan," the EIB said.

Glencore in Zambia Tax Probe Devon Maylie 2011

The EIB provided Mopani with a $50 million loan in 2005 to help fund renovation of the Mufulira copper smelter.

Glencore in Zambia Tax Probe Devon Maylie 2011

"In the event that this investigation were to conclusively demonstrate tax evasion according to the Zambian authorities this would clearly expose Mopani Copper Mines to local financial penalties and lead to events that may trigger early repayment of the EIB loan," the EIB said.

Glencore in Zambia Tax Probe Devon Maylie 2011

The EIB provided Mopani with a $50 million loan in 2005 to help fund renovation of the Mufulira copper smelter.

Glencore in Zambia Tax Probe Devon Maylie 2011

"We welcome the EIB taking a close look at Mopani since we are confident that we will be completely exonerated," the company said.

Glencore in Zambia Tax Probe Devon Maylie 2011

JOHANNESBURG—The European Investment Bank said Wednesday it is investigating tax evasion accusations against commodity trader Glencore International PLC in Zambia, where it is the majority owner of Mopani Copper Mines PLC., and has frozen further funding to the group.

Glencore in Zambia Tax Probe Devon Maylie 2011

After a six-day strike, the government directed management to increase the miners' pay to put them on a par with their counterparts at Vedanta Resources PLC's Konkola Copper Mines and Glencore International AG's Mopani Copper Mines.

Chinese-Owned Miner in Zambia Fires 1,000 Striking Workers Nicholas Bariyo 2011