By Peter Sinkamba

THE BLACK MOUNTAIN JIGSAW PUZZLE

In a Notice issued by ZCCM-IH to investors dated 23rd February 2022, concerning audited abridged financial statements for the year ended 31st December 2020, it is reported that ZCCM-IH owns 10% shares in Nkana Alloy Smelting Company Limited. This is the company that is the majority shareholder in the famous “Black Mountain”.

Five years ago, the Nation was informed that 10% of the Black Mountain was handed over to the youths. Indeed, the alienation was done, and the portion mined out.

Now, we are told that 30% of the same “Black Mountain” has been allocated and handed over to youth and women cooperatives.

From the above cited latest audit report, ZCCM-IH shareholding in Nkana Alloy Smelting Company Limited is reported to be 10%.

My point of departure is that the above numbers are not adding up.

How come ZCCM-IH is reported to own 10% in Nkana Alloy Smelting Company when its share in the Black Mountain was mined out four years ago?

Secondly, where has the additional 30% of the Black Mountain come from? Is it from the remaining 90% for free or government has paid for it? Or has Nkana Alloy Smelting Company Limited been coersed by Government to surrender an additional 30%?

Alternatively, has the 10% ZCCM-IH shares in Nkana Alloy Smelting Company Limited been a hoax all along?

So many unanswerable questions…….smh!