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Nine companies to vie for Zambia Konkola Copper Mines

Metal News - Published on Fri, 19 Jul 2019

Image Source: MINING.com
The Peninsula Qatar reported that nine companies have shown interest in taking over Zambia's largest copper miner, the mines minister said on adding that bids were expected to be submitted over the coming weeks. Konkola Copper Mines at the centre of a legal battle between its London-based majority owner, Vedante Resources, and Zambian President Edgar Lungu, who has vowed to dissolve the firm.

Vedante Resources has started legal proceedings in South Africa and Zambia aimed at blocking KCM's dismantlement.

Minister Richard Musukwa said that "As the court process is going on we have a lot of interested companies wanting to take over... In fact there are nine. The bidding process could be completed "within the coming few weeks.”

The companies eyeing KCM are from Australia, Canada, China, Russia and Turkey.

Source :

Posted By : Ratan Singh on Fri, 19 Jul 2019
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