https://en.sputniknews.africa/20241030/saudi-arabian-mining-company-intends-to-acquire-stake-in-zambian-copper-mine-by-end-of-2024-report-1068951945.html
Saudi Arabian Mining Company Intends to Acquire Stake in Zambian Copper Mine by End of 2024: Report
Saudi Arabian Mining Company Intends to Acquire Stake in Zambian Copper Mine by End of 2024: Report
Sputnik Africa
Copper is vital to Zambia, generating approximately 70% of its export earnings, according to American corporation Fitch Ratings. The southern African country... 30.10.2024, Sputnik Africa
2024-10-30T17:01+0100
2024-10-30T17:01+0100
2024-10-30T17:37+0100
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The Saudi Arabian company Ma’aden is going to acquire a stake in a Zambian copper mine by the end of 2024, Robert Wilt, CEO of Saudi Arabian mining company Ma’aden, told a Western news agency on the sidelines of the Future Investment Forum conference in Riyadh.The Saudi corporation is reportedly in negotiations to purchase 15% to 20% of the assets of a Zambian company. According to the report, the stake is expected to cost the Saudi Arabian company approximately $1.5 billion to $2 billion.
https://en.sputniknews.africa/20240723/zambia-aims-for-copper-boom-40-production-increase-by-2027-1067610372.html
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southern africa, zambia, saudi arabia, middle east, mining, copper, investment, negotiations
southern africa, zambia, saudi arabia, middle east, mining, copper, investment, negotiations
Saudi Arabian Mining Company Intends to Acquire Stake in Zambian Copper Mine by End of 2024: Report
17:01 30.10.2024 (Updated: 17:37 30.10.2024) Copper is vital to Zambia, generating approximately 70% of its export earnings, according to American corporation Fitch Ratings. The southern African country aims to increase its copper output by 40%, reaching one million tonnes by 2027, up from 700,000 tonnes in 2023.
The Saudi Arabian company Ma’aden is going to acquire a stake in a Zambian copper mine by the end of 2024, Robert Wilt, CEO of Saudi Arabian
mining company Ma’aden, told a Western news agency on the sidelines of the Future Investment Forum conference in Riyadh.
"We are looking at Zambia; we are talking with a company there, with a mine there, so those are pretty advanced stage discussions," Wilt said.
The Saudi corporation is reportedly in negotiations to purchase 15% to 20% of the assets of a
Zambian company. According to the report, the stake is expected to cost the Saudi Arabian company approximately $1.5 billion to $2 billion.
