on ZCCM (EPA:MLZAM)
ZCCM-IH Involved in Confidential Arbitration with Trafigura
ZCCM Investments Holdings Plc (ZCCM-IH), based in Zambia, has issued a further cautionary announcement regarding ongoing confidential arbitration proceedings with Trafigura Pte Limited. This follows an initial cautionary announcement from March 31, 2025. The proceedings arise from a guarantee issued by ZCCM-IH's former CEO on July 28, 2021, in favor of Trafigura, linked to a prepayment agreement with Konkola Copper Mines Plc.
Trafigura filed an arbitration request on February 24, 2024, under the London Court of International Arbitration Rules 2020, following a payment demand made in November 2023. ZCCM-IH, a shareholder of Konkola Copper Mines, is contesting Trafigura's claims. Shareholders and investors have been advised to exercise caution regarding ZCCM-IH securities. Further updates will be provided as the case progresses.
R. H.
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