(50% owned by the Commonwealth Development Corp
. and managed by the Electricity Supply Board of Ireland (ESBI).
It is now something over 18 months since the two new major Zambian Copperbelt mining companies, Konkola Copper Mines (KCM) and Mopani Copper Mines were vested on April 1,2000.' KCM comprises ZCI 65% (51%-owned by Anglo American), IFC (7.5%), Commonwealth Development Corp
(7.5%) and ZCCM (20%).
The historic island property is owned and operated through a 50-50 joint venture between the island and the Commonwealth Development Corp
. of London.
and the Commonwealth Development Corp
. ZCI is owned 51% by Anglo American plc, and 49% is owned by market investors.
Konkola Copper Mines is 65%-owned by Zambia Consolidated Investments, a subsidiary of London-based Anglo American plc; 20% by ZCCM, which is now organized as a holding company with no operating responsibility; 7.5% by International Finance Corp.; and 7.5% by Commonwealth Development Corp
. The structure of Konkola Copper Mines closely followed terms outlined in a memorandum of understanding between Anglo American and ZCCM in October 1999.
London-based Commonwealth Development Corp
., which invests U.K.
The new company is the result of a deal between the Bharat Jagdeo administration and the Commonwealth Development Corp
. of the United Kingdom, with the CDC to pay Guyana US$23.45 million over a three-year period.
Sierra Rutile also was reported to have signed a loan agreement with the Commonwealth Development Corp
. for improvements in equipment and infrastructure which would ultimately lead to enhanced mine capacity.
Government has already concluded negotiations with UK-based consortium, Commonwealth Development Corp
./ Electricity Supply Board of Ireland (CDC/ESBI) for sale of 50% of the local power company;
The Commonwealth Development Corp
./ESBI and the Guyana Government recently exchanged letters of intent, which will see the Guyana Electricity Corp.
A consortium led by Seaboard (Seaboard, Enron International, the Commonwealth Development Corp
. and local interests) will take over Generadora Haina (US$144.5 million).
The London-based Commonwealth Development Corp
. (CDC) is providing US$3O million to finance a new company, Tradewinds Investment Holdings Corp., to develop a chain of hotels in the Caribbean, reports CANA (May 29, 1999).