Polish copper producer KGHM privatised

Article Abstract:

Polish companies, Impexmetal and Hutmen have been privatised, and another company, KGHM Polska Miedz, is in the process of being privatised. All three are being floated on the Polish stock exchange in July 1997. The Treasury is selling 72 million shares in KGHM, which represents 36% of the government's stake in the company. Employees of KGHM will get 15% of the shares free and the Treasury will keep 49%, 10% of which will be issued to pension funds. The shares are expected to raise between $404-516 million.

PRIMARY METAL INDUSTRIES, Mining Stocks, Prices and rates, Stocks, Metal industries, Poland, Securities, Deregulation, Stock prices, Metal industry, KGHM Polska Miedz S.A., Impexmetal, Hutmen S.A.

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Impetus behind Zambia Copper Mines sale

Article Abstract:

The government of Zambia currently owns 60% of Zambia Consolidated Copper Mines (ZCCM), which accounts for around 90% of the country's export earnings and forms the basis of its economy. There are now plans to sell off a series of ZCCM subsidiaries based around groups of mines, with bids to be submitted by Feb 28, 1997. This is likely to give a considerable boost to Zambia's privatisation programme, which has so far involved around 160 companies.

Management

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Keen interest in Zambian copper mines

Article Abstract:

Zambia Consolidated Copper Mines (ZCCM) is to link with the Zambia Privatisation Agency and advisers Clifford Chance and NM Rothschild to consider the 26 bids which have been submitted for the nine packages of assets which are being sold in ZCCM. The company will keep residual interests in all the packages, with unsold mines being retendered. There has been particular interest in the sale of ZCCM's power division.

Copper Mines, Copper Ore and Nickel Ore Mining, Copper ores, Planning, Copper mining

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