on ZCCM (EPA:MLZAM)
ZCCM-IH: EMR Capital Sells 80% Stake in Lubambe to JCHX
ZCCM Investments Holdings Plc (ZCCM-IH) has announced that EMR Capital has sold its 80% shareholding in Lubambe Copper Mines Limited to JCHX Mining Management Company Limited. JCHX has acquired this stake through its wholly-owned subsidiary, Sundimo Mining Investments Limited. This transaction includes claims on shareholder loans via a Share Sale and Purchase Agreement.
JCHX, through Sundimo, plans to invest approximately USD 300 million into Lubambe. This investment aims at enhancing operations and extending the mine’s life. ZCCM-IH and Sundimo will negotiate a new shareholders agreement and commercial terms.
The board of ZCCM-IH believes the new partnership will generate value for all stakeholders involved in Lubambe.
R. P.
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