ZCCM-IH Accuses Abu Dhabi Investor of Breaching Mopani Agreements
Zambia’s ZCCM-IH Accuses IRH of Funding and Operational Breaches at Mopani Copper Mines Zambia’s state-owned mining investment company ZCCM Investments Holdings (ZCCM-IH) has accused Abu Dhabi-based International Resources Holding (IRH) of breaching financial and operational agreements linked to its takeover of Mopani Copper Mines. In a September 18 letter to IRH subsidiary Delta Mining, ZCCM-IH alleged that Delta had failed to meet funding commitments and allowed Mopani to take on costly debt without the required approval. Delta holds a 51% stake in Mopani, while ZCCM-IH retains 49%. ZCCM-IH said only…
Read More Here
