Trafigura starts arbitration against Zambian state-owned company
Mopani Copper Mine (Image courtesy of photosmith2011 | Flickr.)
Trafigura filed a request for arbitration against Zambia’s majority state-owned ZCCM Investments Holdings Plc over a copper prepayment deal dating back to 2021, the Zambian company said in a statement to the local stock exchange.
The commodity trader’s request was brought under the London Court of International Arbitration Rules and the proceedings are confidential, ZCCM-IH said in the statement Monday, adding that it’s contesting the claims.
(By Matthew Hill)
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5 Comments
Emmanuel Miti
How come today mopani is selling copper anodes instead of cathodes , what’s the rationale behind?
Jeff
IRH has not provided the operation the working capital to run the operation properly. There has been no investment in the projects to complete them and ramp up production.
Boyd Ngulube
We have the right to know
moses chishimba
Surely we have a right to know since our state has the majority in ZCCM-IH
Winston Nkonde
State owned should infer public interest, meaning, dealings of state owned entity should be part of public information