Zambia Cons Copper - Further re Disposal

RNS No 7617v
ZAMBIA CONSOLIDATED COPPER MINES LIMITED
1st July 1997

             ZAMBIA CONSOLIDATED COPPER MINES LIMITED

LUSAKA - The chairman of Zambia Consolidated Copper Mines Limited
(ZCCM), Mr Luke J Mwananshiku, on behalf of the board of directors of
the company, is pleased to announce that following the recent
international tender for the sale of ZCCM assets, Binani Group has been
selected as the winning bidder for ZCCM's Luanshya/Baluba mining and
metallurgical complex (the "BCo" Package) excluding the Precious Metals
Plant.   The Luanshya and Baluba mines produced 48,345 tonnes of copper
in concentrate and 1,216 tonnes of cobalt in concentrate during the
financial year ended 31 March 1997.

Binani is an international diversified group of companies engaged in
mining, metal trading and manufacturing.   It has been actively involved
in Zambia since 1955 in the marketing of Zambia metals.  In March 1996,
Binani acquired the Inshimbi Copper rod making plant which has since
been expanded to a capacity of 18,000 tonnes of rod production per
annum.   In 1996, the Binani Group also acquired the Kawambwa Tea
Estate.

Commenting on the winning bidder, Mr Francis H Kaunda, chairman of the
ZCCM Privatisation Negotiating Team said that the sale of Package "BCo"
marks a milestone in the privatisation of the existing operational
assets of ZCCM.   He added that the Binani Group has given an
undertaking that there would be no redundancies as a result of
privatising Luanshya. 

After Kansanshi Mine, Luanshya is the second package in the
privatisation of ZCCM, added Mr Kaunda.

In concluding, Mr L J Mwananshiku said that he expects to make
announcements of further awards within the next few weeks.   The award
of "BCo" is subject to contract but he expects the documentation to be
completed during the third quarter of 1997.

Contact:  Keith Irons, Bankside Consultants       0171 220 7477

END

Zccm Investments (LSE:ZCC)
過去株価チャート
から 6 2024 まで 7 2024