- The bidding process closes. Each package attracts at least one bid.
- A memorandum of understanding is signed between the Government/ZCCM and Anglo American for the exclusive purchase of the extensive Konkola Deep deposit outside of the main bidding process. This deal cements Anglo American’s acceptance of the privatization process, but the option granted to the company to purchase the smelter from another sale package jeopardizes the future of the Mufulira mine.
- The Kafue Consortium of three leading mining houses (Avmin of South Africa, Noranda of Canada, and Phelps Dodge of the USA) and UK financiers, the Commonwealth Development Corporation, enter into negotiations to purchase the core Nkana/Nchanga asset package.