Sat, 27 Jan 2018 10:38:35 +0000 BY CHIKUMBI KATEBE FIRST Quantum Minerals has lost a court case to have a matter worth US $1.4 billion against them set aside after ZCCM-Investment Holding alleged that the company fraudulently obtained money from Kansanshi Mining Plc without informing the shareholders. And the Lusaka High Court has denied ZCCM-IH an application to criminalize the matter as it would be dealt with under the case before court. This was in a case in which ZCCM-IH sued the Canadian conglomerate for US $1.4 billion over claims that FQM borrowed US $2.3 billion from its mining subsidiary, Kansanshi Mining Plc without prior notice to them being the minority shareholder. High Court Justice Winnie Mwenda in her ruling yesterday threw out the application to set aside the legal action for what she said were irregularities. ZCCM-IH earlier argued against the application to set aside the suit against FQM and its directors claiming the […]
