ZAMBIA LOAN
June 1st, 2003
BY KEITH NUTHALLTHE WORLD Bank is granting Zambia US$10 million so it can deal with the withdrawal of Anglo American plc (AA) from Konkola Copper Mines (KCM), without the company being wound up and its operations halted. AA acquired majority control of Konkola in 2000 under a World Bank-assisted privatisation, however, in 2002, in announced its abandonment of the mine, threatening to sell, liquidate or transfer the company to the Zambian government. The bank has been managing this divestment, arranging interim funding for Konkola, eliminating debt and improving ...
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