ZCCM Investment Holdings has sold a 51% stake in Mopani Copper Mines to Delta Mining, a subsidiary of Abu Dhabi’s International Resource Holdings for USD 1.1bn, as part of plans for the country to produce 3mn metric tonnes of copper per annum by 2030.
The deal is a mixture of debt and equity.
The USD 400mn loan component will be used to settle Glencore debt.