Konkola Deep Mining Project - Deferment Of Impleme
Zambia Copper Investments Limited
(Incorporated in Bermuda)
(Company registration number 1970/000023/10)
(Registered as an external company in the Republic of South Africa)
("ZCI")
Share code : ZCI
ISIN : ZAE000031738
Konkola Copper Mines plc ("KCM"), in which Zambia Copper Investments Limited
has a 65% shareholding, has advised the Government of the Republic of Zambia
and its shareholders of its intention to defer the commencement of the
Konkola Deep Mining Project. The decision was based on the difficult market
conditions for copper and cobalt and the non availability of limited
recourse financing for the Project, as contemplated under the Development
Agreement between KCM and the Zambian Government.
KCM and its shareholders continue to evaluate financing alternatives for the
Project and preparatory work continues so as to minimise delays should the
requisite funding and approvals to proceed be obtained.
Shareholders will be kept informed of developments.
Bermuda Registered office:
Clarendon House
12 October 2001 2 Church Street
Hamilton Bermuda
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