Zambia ZCCM-IH Aims to Boost Stakes in Local Mining Assets
Zambia's state investment firm ZCCM-IH plans to increase its minority holdings in existing mines and projects under development. CEO Kakenenwa Muyangwa stated the firm aims for higher ownership to gain leverage and will expand its royalty-to-revenue model to ensure more predictable cash flows.
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ZCCM-IH plans to increase minority stakes in Zambia's mines, including raising its Mingomba Mining share to 25% from 20%. The company currently holds interests as low as 10% in assets including those owned by China Nonferrous Metal Mining Group, Canada's First Quantum Minerals, and India's Vedanta Resources. Greater ownership provides leverage as the nation targets 3 million metric tons of copper production by 2031.
