Kansanshi Holdings Limited has Commenced Confidential Arbitration Proceedings against ZCCM Investments Holdings and Kansanshi Mining. 
In a statement issued to Money FM News, Company Secretary Chabby Chabala said in compliance with the requirements of the Securities Act No 41 of 2016 and the Lusaka Securities Exchange Listings Requirements, shareholders are informed that on 11 November 2019, Kansanshi Holdings Limited filed a Request for Arbitration in London against ZCCM-IH as Respondent and Kansanshi Mining Plc as Nominal Respondent.
“Arbitration proceedings are strictly confidential between the parties” Mr Chabala said. 
He adds that the arbitration proceedings follow a criminal complaint made by ZCCM-IH against the allegedly unauthorized transfer by Kansanshi Mining Plc of Kansanshi Mining Plc monies to a Kansanshi Holdings Limited related party.
“The matter is yet to be determined and may have a material effect on the price of the Company’s securities” He said. “Shareholders will be updated as the case progresses.” 
Mr Chabala explained that shareholders of ZCCM-IH are accordingly advised to exercise caution when dealing in securities of the Company until further information is published.