https://www.miningweekly.com

Israeli billionaire Leviev's Zambia emerald mine stake restored

21st January 2019

By: Bloomberg

  

Font size: - +

Zambia’s company registry reversed a decision to strip Israeli diamond billionaire Lev Leviev of his 50% stake in an emerald mine that’s at the heart of a $50-million dispute.

The Patent and Companies Registration Agency, or Pacra, said in a letter on Thursday that it reversed the forfeiture of the shares Leviev held in Gemcanton Investments Holdings through his local unit. The letter came a day after Leviev’s lawyer, Dickson Jere, threatened to institute legal and criminal proceedings following changes to Gemcanton’s shareholding on December 31.

The changes had been “inadvertently accepted” by Pacra as the agency became aware that disputing shareholders had an ongoing court case, according to the letter obtained by Bloomberg.

Vaida Njobvu, a spokesperson for the agency based in Lusaka, the capital, wasn’t immediately able to verify the letter.

Wolle, a company owned by Abdoulaye Ndiaye, who built the Gemcanton mine before selling 50% to Leviev, has been in legal battles with Leviev’s company, which claims Ndiaye owes it more than $50-million.

Edited by Bloomberg

Comments

Projects

Image of lithium ore
Bougouni lithium project, Mali – update
Updated 2 hours 42 minutes ago By: Sheila Barradas

Showroom

Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.1 0.134s - 88pq - 2rq
Subscribe Now