On 23 December 2019, the Board of Directors of ZCCM Investments Holdings Plc approved the proposal to enter into a Joint Venture (JV) partnership with Karma Mining Services and Rural Development Company ("Karma"). The purpose of the JV is to develop a gold processing and trading operation in Zambia ("the Project"). Initially, the JV will source most of the gold ore from Artisanal and Small-Scale Gold Miners. Under the JV, ZCCM-IH and Karma will have 45% and 55% shareholding, respectively. The operation of the Project will accord ZCCM-IH an opportunity to immediately participate in the value chain of the gold sector. In addition, this investment is in line with one of ZCCM-IH's strategic objectives in mining value creation.