Keeping you up to date with our ever changing industry.

Investee Company News, ZCCM-IH News

ZCCM-IH owns 100% shares in Kariba

ZCCM-Investment Holding (ZCCM-IH) has acquired an additional 50 percent shareholding in Kariba Minerals Limited from Gemfields Limited at a cost of US$2.5 million.

The acquisition means that ZCCM-IH now owns 100 percent shares in Kariba Minerals Limited.

According to the directors’ interim unaudited financial results for ZCCM-IH and its subsidiaries for the six months period ended September 30, 2018, transaction completion is subject to regulatory approvals by various regulatory bodies.

“Going forward, ZCCM-IH will implement a robust strategic plan aimed at improving production, processing and marketing activities to increase profitability of the mine,” the report reads.

Meanwhile, plans by ZCCM-IH to acquire Kapiri Glass Manufacturing (KGM) company have been put on hold due to legal action taken against the firm by the current owners

Source: Daily Mail

Previous ArticleNext Article