The Board of ZCCM Investments Holdings Plc wishes to inform its shareholders and the public that EMR Capital has sold its 80% shareholding in Lubambe Copper Mines Limited to JCHX Mining Management Company Limited who has acquired this stake through its wholly owned overseas subsidiary Sundimo Mining Investments Limited, who will hold this 80% of the issued share capital of Lubambe including claims on shareholder loans via a Share Sale and Purchase Agreement.
As the principal funder, JCHX through Sundimo intends to invest circa US$300 million into Lubambe for operations and extension of the life of mine. A new Shareholders agreement and commercial terms shall be negotiated between ZCCM-IH and Sundimo.
