ZCCM-IH Clarifies Misleading Claims Regarding Royalty Transactions with Kansanshi Mine
ZCCM Investments Holdings Plc (ZCCM-IH) has issued a statement to address recent misinformation circulating on social media platforms concerning its royalty transactions with Kansanshi Mine.
The company unequivocally refutes the claims made in the video/audio content, asserting that they are misleading, inaccurate, and lacking factual basis.
First and foremost, ZCCM-IH emphasizes that it is not a shareholder in First Quantum Minerals (FQM) Group. Instead, the company holds an interest in Kansanshi Mine, where FQM is the majority shareholder.
It is crucial to understand that the figures presented in the misleading content represent FQM’s global operations, which include various mining projects beyond Kansanshi.
The production numbers cited in the video/audio surpass Kansanshi’s maximum production capabilities, making such claims practically impossible.
Furthermore, ZCCM-IH clarifies that Kansanshi Mine did not declare any dividends to the FQM Group for the financial year 2023, as confirmed by the mine’s published annual report.
In the absence of dividends, ZCCM-IH, if still operating under the dividend income model, would not have received any revenue from Kansanshi during that period.
Despite Kansanshi’s non-declaration of dividends, ZCCM-IH asserts that it has successfully generated revenue through its Royalty Model Agreement with the mine. In the financial year 2023 alone, ZCCM-IH derived $58.84 million in revenue from this agreement.
ZCCM-IH urges the public to view the assertions made in the video/audio content as unfounded and malicious. The company remains steadfast in its commitment to transparency and accuracy in all communications pertaining to its operations and financial transactions.
