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2012-01-06 - 09:26:00 - DJ Zambia Mulls Full Listing of ZCCM-IH On Local Bourse-Report

DJ Zambia Mulls Full Listing of ZCCM-IH On Local Bourse-Report


The Zambian government is considering a full listing of the shares of its mining state company, Zambia Consolidated Copper Mines Investment Holdings, on its local stock exchange as it seeks to encourage more participating of its citizens in the mining sector, state media reports Friday.

The state-owned Daily Mail newspaper quoted mines minister Wilbur Simuusa as saying that the decision will be made as soon as the ongoing restructuring exercise is completed.

"We are considering a (full listing), although it will be done after the restructuring process is completed. We have to ensure that the books, and the balance sheet, are worked on to enable us to do it," he was quoted as saying.

ZCCM-IH replaced the former mining state company Zambia Consolidated Copper Mines, which was disbanded in the late 1990s after government decided to privatize the sector.

ZCCM-IH maintains minority stakes copper mines in the country.


-By Nicholas Bariyo, Dow Jones Newswires; 256-75-2624615

(END) Dow Jones Newswires

January 06, 2012 04:26 ET (09:26 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

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