ANGLO DELAYS ZCCM BUY

A UNIT of Anglo American Plc confirmed on Thursday that its purchase of the main assets of Zambia Consolidated Copper Mines (ZCCM) had been delayed until February from a previously agreed date of January 31. The statement said that ZCCM and ZCI had made satisfactory progress towards the completion of the sale of the Nchanga and Konkola mines as well as the Nampundwe mine—which represent 70% of ZCCM’s main assets. “However, a number of conditions precedent to closure of this very complex transaction have still to be satisfied.
These include the finalisation of arrangements between ZCI and its financial partners and the finalisation of a number of subsidiary commercial and other agreements,” the statement said.

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