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Article: Zambian government, mining company ink pact over troubled mine
- Article from:
- Xinhua News Agency
- Article date:
- August 19, 2002
CopyrightCopyright 2002 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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Zambian government, mining company ink pact over troubled mine
LUSAKA, Aug. 19 (Xinhua) -- The Zambian government and the mining
giant Anglo-American Corporation (AAC) on Monday signed an
agreement, in which the AAC will provide 56.5 million US dollars to
facilitate its withdrawal from the Konkola Copper Mines (KCM).
The agreement, which was signed here, will also see the transfer
of AAC shares in the Zambia Copper Investments to a newly- formed
independent entity called the Copperbelt Development Foundation, and
to a management and employee share ownership trust (ESOT).
The signing of the agreement also entails the restructuring and
recapitalization of the KCM in the northern ...