Shuka Minerals delays Kabwe acquisition pending final approval

Shuka Minerals, an African-focused mining company, has extended the completion day to 11 June 2025 to get Leopard Exploration and Mining and the Kabwe Zinc Mine successful Zambia.

The hold is owed to the pending last regulatory support from the Competition and Consumer Protection Commission (CCPC). The institution has received each different indispensable approvals and anticipates the remaining 1 wrong the revised timeline.

The acquisition, initially acceptable to beryllium completed by 13 March 2025, involves a stock and currency transaction for 100% of Leopard Exploration's stock superior done a conditional stock acquisition agreement.

The hold was mutually agreed upon by some parties without immoderate penalties pursuing the hold successful receiving CCPC approval. Shuka Minerals' absorption remains optimistic astir the support and is focused connected securing the indispensable backing for the currency information and moving capital.

Shuka Minerals has been engaging with large shareholders, advisers and imaginable indebtedness funders to unafraid the required funding.

Discussions person been progressing with concern groups successful London and Africa, aiming to root non-dilutive superior astatine the PLC level.

The committee is assured successful securing the superior required for the transformative acquisition of the Kabwe Mine.

The Kabwe Mine, with a past of 88 years of cognition by Anglo American and Zambia Consolidated Copper Mines, was “one of the world's highest-grade zinc and pb mines”. It was closed successful 1994 owed to commodity prices.

The excavation holds important economical value successful Zambia and is considered a transformational plus for Shuka Minerals and its shareholders.

To commence the archetypal exploration activities astatine the Kabwe Mine, Shuka Minerals has appointed GeoQuest, a Zambian-based autarkic geological consultant.

GeoQuest volition reappraisal humanities assets drilling and exploration astatine the Kabwe Mine and behaviour a geophysical survey of the tract and its existing Mining Licence.

It volition besides measure assay results from zinc and pb mineral samples collected during the company’s enforcement tract sojourn successful February 2025.

"Shuka Minerals delays Kabwe acquisition pending last approval" was primitively created and published by Mining Technology, a GlobalData owned brand.

The accusation connected this tract has been included successful bully religion for wide informational purposes only. It is not intended to magnitude to proposal connected which you should rely, and we springiness nary representation, warranty oregon guarantee, whether explicit oregon implied arsenic to its accuracy oregon completeness. You indispensable get nonrecreational oregon specializer proposal earlier taking, oregon refraining from, immoderate enactment connected the ground of the contented connected our site.