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BARRICK veut 100 % d'equinox
By Business Reporter
THE world’s leading gold mining company, Barrick Gold Corporation (BGC) has applied to Zambia Competition and Consumer Protection Commission (CCPC) for the 100 per cent acquisition of Equinox Minerals, the owner of Lumwana Mine.
CCPC director consumer and public relations Brian Lingela said the commission has received and is considering an application for the proposed acquisition of 100 per cent shareholding of Equinox Minerals Limited by Barrick Gold Corporation of Canada. Equinox Minerals Limited is an international mining and exploration company that owns
100 per cent interest in Zambia’s Lumwana copper mine based in Solwezi District in North-Western Province.
Mr Lingela said in a statement yesterday that investigations were underway and the board of commissioners was expected to make a decision.
He described the possible Equinox takeover as the biggest transaction in the history of mergers and acquisitions regulation in Zambia.
He said Barrick Gold Corporation will be the latest entrant into Zambia’s copper production and sale.
In its investigations, the commission is carrying out a number of assessment tests to ascertain whether the transaction is likely to result in negative effects in the mining sector, to the consumer, fair trade and the economy in general.
Barrick is a Canadian based company globally leading in gold mining in terms of production, reserves and market capitalisation and operates gold and copper mines in Canada, United States of America Peru, and Chile among other areas.
According to statistics, the Lumwana mining project currently accounts for approximately 19 per cent of Zambia’s total copper concentrate production.