PAC TO SUE ZCCM-IH OVER MOPANI EQUITY PARTNER.
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PAC TO SUE ZCCM-IH OVER MOPANI EQUITY PARTNER.

Opposition People’s Alliance for Change PAC has issued a seven-day ultimatum to ZCCM-IH to provide information regarding the profile of government’s recently unveiled strategic equity partner in Mopani Copper Mine, International Resources Holdings (IRH) of Abu Dhabi.

In December last year, PAC President Andyford Mayele Banda wrote to ZCCM-IH Chief Executive Officer demanding an explanation as to how a foreign entity without traceable operations in mining could be considered as an equity partner in Mopani.

However, following the lack of feedback from the publicly listed company with 75 percent government shareholding, the party has engaged lawyers through E.M Mukuka and Company Legal Practitioners requesting that information be availed to their client (PAC) within 7 days in compliance with the Access to Information law.

“Our Client has some concerns regarding the profile of International Resources Holdings (hereinafter referred to as “IRH”) of Abu Dhabi. Upon the initial announcement of the deal, Our Client conducted a search and could not find any information about IRH on the internet. The closest entity Our Client came across was International Holding Company (hereinafter referred to as “IHC”), which, based on Our Clients’ preliminary checks, has no connection to IRH and no involvement in the mining sector” reads part of the demand letter.

According to Sam Ng’ambi of E.M Mukuka and Company Legal Practitioners, the additional information requested by their client, People’s Alliance for Change on Mopani Copper Mine’s equity partner is in the interest of the public and other private shareholders.

The party through their lawyers are demanding that ZCCM-IH provides clear information regarding who the shareholders in International Resources Holdings are to the minute detail and accompanied by documentation.

The party also demands that information is availed regarding the entity’s experience and areas of operations and when the company was incorporated in Abu Dhabi considering the fact that it has no traceable operations including mining, value addition and refinery among others.

“Our Client understands the critical importance of Mopani Copper Mines as a valuable asset for the country, with proven mineral deposits. Therefore, it is for this reason that Our Client stresses the importance to ensure that the right strategic equity partner with a proven track record and capital is selected. In light of the above, we kindly request that the afore-requested information be availed to Our Client within 7 days in compliance with Our Client’s legal rights as espoused in the recently enacted Access to Information Law” stated the letter.

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