Israeli billionaire Leviev's Zambia emerald mine stake restored
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.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation