From Yahoo Finance: 2025-06-05 11:34:00

Shuka Minerals receives final approval from the Competition and Consumer Protection Commission (CCPC) to acquire Zambia-based Leopard Exploration and Mining (LEM), including the Kabwe Zinc Mine. The completion date was extended to June 2025, pending CCPC approval, but all other necessary approvals are secured. CEO Richard Lloyd sees this as a major milestone.

The technical committee of the CCPC grants interim unconditional authorisation for the acquisition, confirming no significant grounds for action under Zambian competition and consumer laws. Shuka Minerals can now proceed with the acquisition of LEM and the Kabwe Zinc Mine, securing proposed funding on a non-dilutive basis for the cash-based payment.

LEM holds a large-scale mining license for the Kabwe Mine, located 110km north of Zambia’s capital, Lusaka. Previously operated by Anglo American and Zambia Consolidated Copper Mines, the mine was in production for 88 years until 1994. Shuka Minerals sees the acquisition as a strategic growth opportunity to expand operations and leverage the mine’s potential.

Read more: Shuka Minerals secures final regulatory nod to buy Leopard Exploration and Mining