ZCCM Investments Holdings Faces Binding Guarantee in Trafigura Arbitration Award

ZCCM Investments Holdings ( (FR:MLZAM) ) has shared an announcement.

ZCCM Investments Holdings has disclosed that an arbitral tribunal under the London Court of International Arbitration has issued a Partial Final Award in ongoing confidential proceedings brought by commodities trader Trafigura Pte Limited. The tribunal has ruled that a 28 July 2021 guarantee in favour of Trafigura is binding on ZCCM-IH, and set a timetable for ZCCM-IH to challenge specific elements of Trafigura’s claim for a principal sum of USD 82.8 million, followed by a one-day hearing on the quantum. ZCCM-IH said it is actively assessing its legal options, reiterated its commitment to protecting shareholder interests, and urged investors to exercise caution when trading its shares until further information is released, underscoring the potential financial and market implications of the arbitration outcome for the company and its stakeholders.

More about ZCCM Investments Holdings

ZCCM Investments Holdings Plc is an investment holding company incorporated in Zambia, with its shares listed on the Lusaka Securities Exchange. The company holds and manages the government’s and its own equity interests across the country’s mining and related sectors, providing investors exposure to Zambia’s resource and minerals industry.

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