Message Lun 7 Oct 2013 20:12

ZCCM-IH 'needs new strategic direction'

ZCCM Investments Holdings has issued an update on its internal restructuring.

The company says the board believes urgent action is necessary and a new strategic direction is required in order to improve its operational performance.

It says this is needed to unlock value for the benefit of all shareholders on the one hand and simultaneously have capacity to participate in new projects and opportunities in Zambia and beyond going forward.

Accordingly, it is imperative that a line be drawn between historical legacy issues that have constrained the company since privatisation of ZCCM in 2000 and prevented it from rising to its full potential and role in Zambia and the new era of mining in Zambia that is driving the resurgence of the industry on the back of higher metal prices and increased global demand for mineral resources and creating new opportunities that ZCCM-IH should seize.

It says measures instituted by the board and management and a proposed rights offer provide a basis on which ZCCM-IH can chart a new path and unlock value for the benefit of all shareholders.
- See more at: http://www.stockmarketwire.com/article/ ... dEjcy.dpuf