ZCCM Investments Holdings Plc – ZCCM-IH – has been ordered by a London tribunal to pay more than USD 69 million to Trafigura Pte Limited following a long-running arbitration linked to a copper delivery agreement.
According to a further cautionary announcement issued by the company on May 29, 2026, the tribunal found that ZCCM-IH failed to honour its obligations under a guarantee tied to a prepayment arrangement involving Konkola Copper Mines – KCM.
The tribunal has ordered ZCCM-IH to pay USD 69,313,867.18 in respect of the principal sum due under the guarantee.
In addition, the company has been directed to pay USD 19,740,358 in contractual interest on outstanding trading amounts accrued up to March 31, 2026.
The tribunal has also ordered further contractual interest to continue accruing on all outstanding sums at a variable rate of SOFR plus five percent per annum, compounded monthly, from April 1, 2025 until full payment is made.
The company says the exact total payable cannot yet be determined because the interest amounts continue to increase until settlement.
ZCCM-IH says it is actively evaluating its legal options regarding the final award and remains committed to safeguarding shareholder interests.
By Rachel Mumba
