Konkola Copper Mines (KCM) PLC has selected Rand Merchant Bank (RMB) as financial advisor to search for an equity partner.
KCM Provisional Liquidator Celine Nair says Rand Merchant Bank was a successful bidder from the 11 local and international firms that participated in the tender process.
Ms. Nair adds that the appointment of RMB follows the announcement in June 2022 when the company begun a comprehensive search for a financial advisor to secure financing for its medium to long term projects.
She notes that the appointment of is an assurance to the ongoing management process, aimed at strengthening governance in KCM and its subsidiaries.
Ms. Nair further says the company forms part of a strategic national resource base and having an equity partner is vital to unlock the rich ore reserves at Konkola Deep Mine.
By Shem Malinda