South Africa’s Sibanye looking to bring in Chinese investor for Zambia copper mine

South Africa’s Sibanye Stillwater is considering bringing in a Chinese investor to form a partnership if it succeeds in its bid to acquire Zambia’s Mopani Copper Mines, according to the company’s CEO, Neal Froneman. Sibanye is among the shortlisted potential buyers for the copper mines owned by a unit of the Zambian government. Froneman mentioned that they are working with a partner they have already identified and that the Chinese company has a presence in copper mining. The CEO did not provide further details about the investor or the terms of the potential partnership.

Sibanye is competing against China’s Zijin Mining Group in the bid for Mopani Copper Mines. Froneman, known for his dealmaking expertise, aims to expand Sibanye’s portfolio with new assets as the output from South African gold and platinum mines has been affected by electricity blackouts and rising crime.

The potential Chinese partner’s involvement could help mitigate risks associated with the investment in Mopani Copper Mines. Froneman noted that the partner is experienced in the copper business and smelting, which would contribute to managing risks associated with the venture.

Swiss commodities group Glencore sold a 73% stake in Mopani to Zambia Consolidated Copper Mines (ZCCM) in 2021. Glencore retained offtake rights of Mopani’s copper production until the debt from the transaction had been repaid in full.

The winner of the bid for Mopani’s assets, managed by Rothschild & Co, is expected to be announced in about three weeks. Froneman stated that the Mopani assets require significant investment, but the spending would be spread over several years. He emphasized a preference for working with partners and earning-in, which would avoid a large upfront capital outlay for the acquisition.

Elevate your business with QU4TRO PRO!

Gain access to comprehensive analysis, in-depth reports and market trends.

Interested in learning more?

Sign up for Top Insights Today

Top Insights Today delivers the latest insights straight to your inbox.

You will get daily industry insights on

Oil & Gas, Rare Earths & Commodities, Mining & Metals, EVs & Battery Technology, ESG & Renewable Energy, AI & Semiconductors, Aerospace & Defense, Sanctions & Regulation, Business & Politics.

By clicking subscribe you agree to our privacy and cookie policy and terms and conditions of use.

Read more insights

UAE’s Masdar partners with Philippines on $15 billion renewable energy project

The United Arab Emirates’ state energy firm Masdar has entered into a $15 billion renewable energy agreement with the Philippines to develop solar, wind, and battery energy storage systems. The initiative is projected to supply up to 1 gigawatt (GW) of clean energy by 2030, aligning with the Philippines’ objective of reducing reliance on…

China’s Chery to utilize former Nissan factory in Spain for European EV production

Chery Auto’s joint venture deal with Spain’s EV Motors marks a significant milestone as the Chinese automaker ventures into Europe, demonstrating its commitment to the region’s electric vehicle (EV) market. The joint venture will utilize the first factory in Europe, formerly owned by Japanese carmaker…

Trump’s tariff moves add fuel to global logistics gridlock

Port congestion across Northern Europe and key global trade gateways is intensifying, driven by a volatile mix of labor constraints, climate-related logistical issues, and trade policy uncertainty—with the impact increasingly rippling across global supply chains.

Waiting times for berths surged between late March and mid-May in some of Europe’s busiest ports. Germany’s Bremerhaven recorded a 77% increase in ship wait times, while Hamburg and Antwerp saw jumps of 49% and 37% respectively. Congestion also worsened at Rotterdam and Felixstowe, the UK’s largest container port.

Stay informed

error: Content is protected !!