2023-06-26 15:39:08 ET
Sibanye Stillwater ( NYSE: SBSW ) and China's Zijin Mining ( OTCPK:ZIJMF ) ( OTCPK:ZIJMY ) are among investors interested in buying Mopani Copper, Zambia's state-owned ZCCM CEO Ndoba Vibetti told Reuters on Monday.
The search for a new investor for Mopani likely will be completed within the next two months, Vibetti said, adding that the mine would require at least $1B in funding over the next 5-6 years.
The mine and smelter complex currently requires $200M-$300M of short-term funding to make it sustainable, Vibetti said.
Attracting a new investor for Mopani is part of the Zambian government's plan to triple copper output in Africa's second largest producer over the next decade.
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Sibanye Stillwater considering Mopani copper mine deal, Zambia official says