ZAMBIA MAY PROBABLY RECEIVE 171 MILLION U.S. DOLLARS FROM THE IMMINENT SALE OF EQUINOX MINERALS, THE 100% OWNER OF LUMWANA MINING COMPANY.
OPPOSITION PATRIOTIC FRONT LAWMAKER, MR WYLBUR SIMUUSA WHO IS ALSO PARLIAMENTARY CHAIRPERSON FOR MINES STATED THAT ZAMBIA’S LOW STAKE IN LUMWANA MINING COMPANY WOULD RESULT IN THE COUNTRY GETTING A PALTRY AMOUNT FROM THE COUNTRY’S RECORD TRANSACTION IN THE MINING SECTOR.
EQUINOX MINERALS' SALE TO GARRICK HAS BEEN VALUED AT AN INITIAL VALUE OF 7.68 BILLION DOLLARS.
BARRICK GOLD RECENTLY AGREED TO BUY EQUINOX MINERALS WHOSE LUMWANA MINING COMPANY BUILT FOR OVER ONE BILLION DOLLARS IN SOLWEZI IN ZAMBIA IS EQUINOX MINERAL’S PRIMARY ASSET WHILE OTHER OPERATIONS INCLUDE A COPPER DEVELOPMENT PROJECT IN SAUDI ARABIA.
ACCORDING TO THE LAWMAKER IT WAS IMPERATIVE FOR THE GOVERNMENT TO CATEGORICALLY STATE THE FUTURE OF ZCCM IH’S STAKE IN THE NEW COMPANY AFTER BARRICK GOLD TAKES OVER LUMWANA EQUINOX MINERALS. IT WAS HIS VIEW THAT ALTHOUGH ZAMBIA WAS LIKELY TO BENEFIT 171 MILLION DOLLARS FROM THE EQUINOX DEAL, THE CONCERN IS THAT THE COUNTRY’S SHAREHOLDING, THROUGH ZCCM IH IS LIKELY TO BE DILUTED.
MR. SIMUUSA ALSO REGRETTED THAT THE GOVERNMENT POSITION ON THE TRANSACTION OF THE LUMWANA MAGNITUDE REMAINS UNCLEAR DESPITE THE COUNTRY HOSTING THE MINES.
###########
OPPOSITION PATRIOTIC FRONT LAWMAKER, MR WYLBUR SIMUUSA WHO IS ALSO PARLIAMENTARY CHAIRPERSON FOR MINES STATED THAT ZAMBIA’S LOW STAKE IN LUMWANA MINING COMPANY WOULD RESULT IN THE COUNTRY GETTING A PALTRY AMOUNT FROM THE COUNTRY’S RECORD TRANSACTION IN THE MINING SECTOR.
EQUINOX MINERALS' SALE TO GARRICK HAS BEEN VALUED AT AN INITIAL VALUE OF 7.68 BILLION DOLLARS.
BARRICK GOLD RECENTLY AGREED TO BUY EQUINOX MINERALS WHOSE LUMWANA MINING COMPANY BUILT FOR OVER ONE BILLION DOLLARS IN SOLWEZI IN ZAMBIA IS EQUINOX MINERAL’S PRIMARY ASSET WHILE OTHER OPERATIONS INCLUDE A COPPER DEVELOPMENT PROJECT IN SAUDI ARABIA.
ACCORDING TO THE LAWMAKER IT WAS IMPERATIVE FOR THE GOVERNMENT TO CATEGORICALLY STATE THE FUTURE OF ZCCM IH’S STAKE IN THE NEW COMPANY AFTER BARRICK GOLD TAKES OVER LUMWANA EQUINOX MINERALS. IT WAS HIS VIEW THAT ALTHOUGH ZAMBIA WAS LIKELY TO BENEFIT 171 MILLION DOLLARS FROM THE EQUINOX DEAL, THE CONCERN IS THAT THE COUNTRY’S SHAREHOLDING, THROUGH ZCCM IH IS LIKELY TO BE DILUTED.
MR. SIMUUSA ALSO REGRETTED THAT THE GOVERNMENT POSITION ON THE TRANSACTION OF THE LUMWANA MAGNITUDE REMAINS UNCLEAR DESPITE THE COUNTRY HOSTING THE MINES.
###########
No comments:
Post a Comment