Transaction Announcement Regarding Mopani Copper Mines Plc

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Transaction Announcement Regarding Mopani Copper Mines Plc

Published Date: 1st February 2024

The shareholders of ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company”), and other market
participants, are referred to the cautionary announcements issued on 10 November 2023 and 30
November 2023 in relation to the board of directors of ZCCM-IH (“the Board”) selecting International
Resources Holding RSC Limited (“IRH”), as the preferred Strategic Equity Partner (“SEP”) for Mopani
Copper Mines Plc (“MCM” or “Mopani”). The market is also referred to the transaction announcement
dated 22 December 2023.
The Board is pleased to announce that on 22 December 2023, ZCCM-IH entered into an agreement
with IRH pursuant to which IRH, through its wholly owned subsidiary Delta Mining Limited ("Delta"), has
committed up to US$1.1 billion for a 51% interest in MCM and the formation of a strategic partnership
with ZCCM-IH. This investment comprises of US$620 million in new equity capital, up to US$100 million in
settlement of existing third-party letters of credit and up to US$380 million of shareholder loans into MCM
as a SEP (the “Transaction”), subject to the fulfilment of Conditions Precedent defined herein.
Consequently, upon the satisfaction of those Conditions Precedent, the relationship between
Glencore International AG (“Glencore”) and MCM will be restructured.
ZCCM-IH, in consultation with its transaction advisors, is preparing a Transaction circular providing all
the relevant information in respect of the Transaction, including financial and technical information.
Shareholders will be able to vote on the Transaction at an extraordinary general meeting (“EGM”) due
to take place in the first quarter of 2024.