THE Mine Workers Union of Zambia (MUZ) says Glencore should clearly state the conditionalities attached to its proposal to jointly lend Mopani Copper Mines $200 million with ZCCM-IH. According to Reuters, Glencore, which owned Mopani until March 2021, is prepared to lend up to $100 million as a short-term cash injection to Mopani. Reuters reported that this is according to a “non-binding letter of intent” dated Sept 12. In the letter, Glencore said it had already lent Mopani $47 million through procuring letters of credit to cover copper concentrate purchases and electricity bills. Under the proposal, Glencore would provide up to $53 million more through letters of credit. The proposal did not specify the interest rate for the loan. When…...

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