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IHC’s International Resources Holding (IRH) has finalized its acquisition of Zambia’s Mopani Copper Mines, according to a press release. The value of the transaction was not disclosed in the statement, but previous reports indicated that IRH would invest USD 1.1 bn for a 51% stake.
Breakdown: The financial terms of the agreement involves an equity component of USD 620 mn as well as a USD 400 mn loan component, according to ZCCM Investments Holdings’ statement. Last month, Zambia’s state-owned ZCCM Investments Holdings approved the transaction, retaining 49% ownership and three out of nine board seats, according to a statement.
ICYMI- IRH is also reportedly looking to bid for private equity player EMR Capital’s 80% stake in Zambia’s Lubambe Copper Mine. EMR Capital previously received a USD 1 mn offer from China’s JHCX Mining. JHCX Mining also offered to take over the project’s USD 857 mn debt.
