Sibanye’s pursuit of Mopani undone by Abu Dhabi bidder
Abu Dhabi’s International Resources Holding selected as strategic equity partner for the copper producer
Sibanye-Stillwater’s hot pursuit of Zambia’s Mopani Copper Mine (MCM) has derailed after Lusaka chose cash-rich Abu Dhabi’s International Resources Holding (IRH) as the strategic equity partner (SEP) for the asset, handing Neal Froneman a rare deal-making defeat.
ZCCM Investments Holdings (ZCCM-IH), the Zambia state-owned investment vehicle that owns MCM, said on Friday that it has chosen IRH as the preferred bidder for the mine, which produces the metal used in power lines, electric cars and renewable power...
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