Chief Government spokesperson Dora Siliya says government is not aware of any offer from Canada’s First Quantum Minerals to buy shares in the Zambia Consolidated Copper Mines Investment Holdings.
Ms. Siliya has explained that there is no official offer before government from FQM to the tune 700 million US Dollars to buy shares in the company.
She told a media briefing yesterday that government is therefore not considering any offer of such nature as it is not officially in existence.
Ms. Siliya says government has only seen the story in the media as cabinet has not sat to discuss any of such matters.
But Finance Minister Margaret Mwanakatwe disclosed yesterday that Zambia has received bids from Canada’s First Quantum Minerals (FQM) and others for a 17 percent stake in state mining investment arm ZCCM-IH.
“There are multiple unsolicited offers on the table, including from FQM, which are based on preferential share conversions,” said Margaret Mwanakatwe on the sidelines of a mining conference in Cape Town.
“The offers relate to the ministry’s 17 percent holding in ZCCM-IH and a sale would be subject to cabinet approval,” she said.