Trafigura Wins $92 Million Arbitration Award Against Zambia’s ZCCM-IH
Zambia’s ZCCM-IH Ordered to Pay $92 Million to Trafigura in Copper Dispute Arbitration
A London arbitration tribunal has ordered Zambia’s state-linked investment firm, ZCCM Investments Holdings Plc (ZCCM-IH), to pay approximately $92 million to global commodity trader Trafigura following a long-running dispute involving a prepayment agreement with Konkola Copper Mines.
According to a statement released on the Lusaka Securities Exchange, the award includes $69.3 million in principal, $19.7 million in interest, as well as additional arbitration costs and legal fees in favor of Trafigura.
ZCCM-IH said it is currently reviewing the ruling and evaluating its legal options regarding the final award.
The dispute dates back two years, when Trafigura initiated arbitration proceedings over a prepayment arrangement linked to Konkola Copper Mines, which was under the operational control of ZCCM-IH at the time.
The ruling highlights ongoing legal and financial complexities surrounding historical mining agreements in Zambia’s copper sector, a key pillar of the country’s economy.
