Miles Sampa
FQM MERCENARY SHAREHOLDERS AND KANSANSHI MINE BOARD MEMBERS SHOULD BE ARRESTED FOR THE $750M THEY STOLE FROM ZAMBIA 🇿🇲
The recent revelations that Kansanshi mine in Zambia paid $750M to its parent company FQM based and listed in Canada 🇨🇦 without compliance to Zambia’s companies acts is criminal and jailable offense for all involved or facilitated the transaction.
Kansanshi Mine is co owned by the Zambian Government (ZCCM-IH) and a private international shareholder First Quantum Minerals ( FQM ). Kansanshi Mine is a registered company in Zambia and falls under all guidelines and legislation that governs all PACRA certified business bodies or institutions. Companies are run via standard articles of association and one universal stipulation is that any funds pay outs of huge sums has to be agreed and approved by shareholders of the particular company.
Kansanshi Mine paid $750M to one of its shareholders FQM without approval of the other shareholder ZCCM-IH (Zambian Government). Essentially FQM stole the money from the company called Kansanshi mine. The big question is ; what was Kansanshi Mine paying $750M to FQM for? What service or product did FQM avail Kansanshi to warrant the big payment?
I can guess however. It was for ‘consultancy’ rendered or it was a ‘refund’ for a ‘loan’ from the shareholder FQM. A fictitious loan that is.
The reality is that the $750M was surplus in the books of Kansanshi mines but FQM did not want it called profit because then it would have meant declaring dividends. This would have meant sharing the $750M with the other shareholder called Zambia 🇿🇲 and on whose underground soils the copper and gold that was sold is mined from.
During the slavery Cecil Rhodes era around 1889, the copper and gold would just be grabbed by force and Africans even made to carry it to the coast for shipping to Europe, USA and Canada. After political independence post 1964, the copper and gold is still stolen except now via clever and smarter ways called transfer pricing. Dupe Africa and Zambian 🇿🇲 government through trickery book keeping methods that sees money siphoned from local registered mine companies to their offshore pockets.
There are various jurisprudence cases in the courts archives in Zambia 🇿🇲 where Zambians have been jailed because as CEO or shareholders of own companies they formed, were found to have acted against the Zambia companies act. Here are board members and private shareholders of Kansanshi Mine based in Zambia still basking in freedom locally enjoying fruits of the $750M they paid out of Kansanshi mine in Solwezi without following regulations of Zambia’s company laws.
Guess the company act only applies to SME companies owned by Zambians and not large international companies registered and operating in Zambia. This is what Julius Malema constantly refers to as modern imperialism facilitated by our own governments.
Anti Corruption Commision (ACC), Drug Enforcement Commision (DEC) and the Zambia Police 👮♀️ (ZP) will hardly take interest in the FQM theft of $750M from a company in Zambia called Kansanshi Mine. Had it been a Bwalya & Sons company whose owner helped himself with just K7,500 from the company for christmas holiday in Samfya, they would have already taken him to Chimbokaila remand prison.
Shame on us Africans.
Miles B. Sampa, MP
December 13, 2022
