Lusaka-2nd June 2022
Former Ambassador to Ethiopia and Patriotic Front Presidential Aspirant, Emmanuel Mwamba has reiterated his earlier call that the Zambian Government must cancel the contract it has with GLENCORE, a British multinational that was found guilty of bribery and market manipulation by USA Authorities.
Mr. Mwamba was reaching to fresh revelations that GLENCORE has been paying and meeting Mopani Copper Mines’ operational and other bills.
Mr. Mwamba also stated that the Supreme Court of Zambia on May 20th 2020, found that MOPANI and Glencore were engaged in tax fraud schemes and were levied $13million.
Mr. Mwamba also said Glencore, VEDANTA and Associated British Foods ( who run Zambia Sugar) were cited by a publication; “War on Want-Extracting Wealth, How Zambia Loses $3billion a Year” detailed how the three firms alone defrauded the Zambian tax authorities upto $3billion a year by using complex corporate structures, mispricing, transfer pricing and illegal tax-evasion schemes.
Mr. Mwamba urged the Zambian Authorities to immediately cancel the exclusive marketing rights of Mopani Copper Mines currently being held by GLENCORE and also cancel the $1.5billion sale Agreement.
Below is the full Statement.
PRESS STATEMENT
2ND JUNE 2022
REVELATIONS THAT GLENCORE PAID BILLS FOR MOPANI IN MAY 2022 REINFORCES OUR EALIER CALL THAT GOVERNMENT MUST IMMEDIATELY CANCEL ANY DEAL IT HAS WITH GLENCORE
We have learnt with deep concerns that Glencore Company is still running and paying operations and other Bills of MOPANI COPPER MINES.
Last week the USA Authorities found GLENCORE, a British/Swiss multinational commodity trading and mining with interest in MOPANI Copper Mines guilty of bribery and market manipulation in seven jurisdictions.
In Zambia, GLENCORE was in May 2020 fined $13million by the Supreme Court of Zambia for tax fraud.
This is after the Zambia Revenue Authority conducted an Audit that revealed that Mopani and its parent company, GLENCORE International were engaged in tax evading schemes and fraud which also violated the Arms Length Standards(ALS).
Because of the above, the Zambian Goverment must cancel or void the exit contract that has bound Zambia to pay Glencore $1.5Billion and holds MOPANI’s entire marketing rights of copper and cobalt.
We reiterate our earlier call to the Minister of Mines and Minerals Development and the Attorney General that Government must cancel this Agreement.
It is absurd that the entire ZCCM was sold for about $600million yet decisions were made to sale a small component of those assets for $1.5billion.
Emmanuel Mwamba
Lusaka