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The minority shareholders of ZCCM-IH have full confidence in the ZCCM-IH Management and the Mopani teams

The minority shareholders of ZCCM-IH have gradually learned the terms of the takeover of Mopani Copper Mine Plc. The financial scheme for the acquisition seems satisfactory to us
insofar as the repayment of the installments can be modulated from 10 to 17 years depending on the price of copper and the production of the mine.

We read and hear doubts about the ability of ZCCM-IH to manage the mine with reference to the former ZCCM that was asphyxiated and ruined by a copper price that fell to $1500 per tonne
in the 1990s. Today, the situation is different with a different Management, a copper price around $8,000 and a return to the highest according to experts. Furthermore, the calamitous operation and management of the Mopani mine by Carlisa Investments and its parent company Glencore can only improve, given the reserves and grade of the ore.

As investor shareholders of ZCCM-IH, committed to the development and future of our company, free from any controversial or political considerations, we have full confidence in the
Management of ZCCM-IH, which has a proven track record in bringing the Kasenseli gold mine and the Serenje manganese mine into operation. This had not happened for almost twenty
years, the unfortunate Kasolo years are now behind us… The feasibility studies and audits concerning Mopani had to be conducted with the necessary seriousness and professionalism.

After having suffered from so-called partners who have been financially stifling us for years,becoming a MAJORITY mining operator again was an absolute objective and necessity. Our
only regret is that after all these infamous and bitter experiences, a strategic partnership is once again being considered.

The minority shareholders of ZCCM-IH are convinced that this great project, this great challenge,the acquisition of a world class asset like MCM, will lead up to the return of ZCCM-IH as a leading mining operator thanks to the Management and the miners of Mopani, with the supervision of the teams of our CEO Mabvuto Chipata.

The conditions are right for ZCCM-IH to once again become Zambia’s mining flagship and once again be the pride of the country.

Issued by:
Spokesperson of Minority Shareholders of ZCCM-IH


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