Mon, 10 Apr 2017 11:53:06 +0000 By Chikumbi Katebe An intriguing case in which ZCCM Investment Holdings has sued Zambia’s largest mining conglomerate First Quantum Minerals Limited for US $1.8 billion over matters that took place in 2007 may be dismissed even before it starts. FQM chief executive Mr. Philip Pascall has submitted that “The facts forming the basis of the plaintiff’s claims were known to the plaintiffs as at 2007 and I am advised by my counsel and believe the same that these claims are rendered statute barred in Zambia.” The case involves the deposit of excess funds by Kansanshi Mine in an FQM Finance service account which ZCCM claims was irregular as it was made without its knowledge. But Mr. Paschall has argued that “That the deposit of excess funds of the 7th defendant in an inter-company, interest-bearing account which was in part utilized by the 2nd defendant was documented on the […]
