THE MINISTER OF MINES LIED ON THE FLOOR OR THE HOUSE
By; Lusaka Lawyer – Celestin Mukandila_Esquire
This is the SENS ANNOUNCEMENT pertaining the MOPANI COPPER MINES LIMITED (MCM) transaction. Zambians may do well to download the document and understand exactly how this deal was concluded by government so that they may be making comments from an informed position.
The foregoing document has provided for Condition Precedents which “MUST” be completed before the transaction can close to become effective. Amongst them includes the following:
- Approval of the Transaction by the shareholders of ZCCM-IH at an EGM;
and - Receipt of approval and/or consent of the Transaction pursuant to section 67 of the Mines and Minerals Development Act, 2015 (No. 11 of 2015) from the Minister of Mines and Minerals
Development;
This document has further provided that;
“The Transaction will close and become effective once all of the Conditions Precedent listed have been completed. It is estimated that closing will occur during the first quarter of 2024.”
LIES BY THE MINISTER
The Minister has lied that he did not sign the approval consent of transaction when Infact it is one of the condition precedent for the said transaction. (A Clear show of incompetence on the part of our Minister)
The Minister lied that there hasn’t been a sale or transfer of Shares when the document has provided for consideration for the subscription and that US$620 million will be provided in the form of new equity capital in return for a 51% stake in MCM in the form of the Investor Shares of 51% of the Shareholder Investors Shares.
Infact,
It’s important that we are also informed of what it means by Subscribed Share Capital. Subscribed share capital refers to any capital raised through subscribed shares. Put simply, it’s the value of all the shares that investors agree to purchase during a new issuance.
ILLEGALITY AND UNCONSTITUTIONALITY OF THE SHAREHOLDERS APPROVAL.
It is for this basis that I have maintained that ZCCM-IH’s shareholders approval is unconstitutional and illegal because it ought to have been approved by the National Assembly because there was a sale, transfer or disposal of a 51% Equity (“Major State Asset”) as provided for by Article 210(2) and (3) of the Constitution of Zambia Act No. 2 of 2016.
THIS DEAL IS A NULLITY.
THE ARROGANCE OF INCUMBENCY SHOWN BY THE MINISTER OF MINES WILL LEAVE ME WITH NO OPTION BUT TO SUE.
WE MUST PROTECT AND DEFEND THE CONSTITUTION.
@highlight Attached hereto are the relevant documents for your perusal.
Most these conmen will be jailed after 2026.
How did we get here ?
Vote wisely in 2026.
Please go ahead a sue ngati Mopani ni company ya anyoko!
Enemies of Progress!
Ba opposition, don’t come to Kopala!
Only Bally symathises with the suffering of ba Kopala after ba PF messed up KCM and Mopani!
There’s no need for insults to fly here. Celestin Mukandila has decided to sue and that’s great. Let’s see how Zambian courts will deal with the time-honoured judicial decisions that underlie law and accounting for hundreds of years.
Did you sue when ECL signed for the signing of loan of about US$500 million on behalf of ZESCO or you were still young and not practising as a lawyer. Who in your case is suppose to do so.
What does the law or constitution say.
Did you sue when Bwalya Ngandu as PF Minister of finance lied on the floor of parliament including vice president by then Inonge Wina in 2020 that Zambia has not defaulted on the expensive loans they borrowed when in the actual Sense they had already defaulted.
Did you sue when the PF ministers were giving themselves contracts and paying themselves without doing the work, or that is what the constitution says.
Did you sue when John Sangwa struggled alone to defend the constitution on the eligibility and for a person who have been sworn twice is not eligible to hold office again
Did you sue when milungu the KCM Lungu appointed liquidator was using the KCM money to buy bonds and raise more money on the money that is not legally his.
Did you sue when Nsama Nsama a govt employee was shot dead in cold blood without any case. Or to you that is what the constitution says to kill innocent people.
Did you sue when PF cadres were collecting revenue from markets and bus stops for their own benefit and their masters. Or to you that is what the constitution says.
Did you sue when PF was abrogating the constitution on borrowed loans without approval of parliament. to you it made sense by then.
Did you sue when PF grabbed by force without following procedure the MOPANI mine from Glencoe but still put govt and Zambian people on sale out loan of about U.S.$1.5 billion kwacha and be under lock and dance to the tune of Glencoe. Or to you that is what the constitution says and you were happy with it
What then are you fighting for, for a just better course and make it as if it Is wrong when people in the area are to benefit or you just wanted this to be done. Y Lungu since all along you were quite.