By GRACE CHAILE LESOETSATHE Kabwe High Court has granted an interim injunction restricting Zamsort Limited and Handa Resources Limited from disposing of mineral tenements and assets for Kalaba Mine.The court has also appointed Mr Mwenya Andrew Mukupa as receiver over the said mining tenements to manage and preserve until further order of the court.This is a matter where investors in the mine namely Terra Metals Limited, Mumena Mishinge and Brian Chisala are demanding payment of the sum of USD5,889,407.00.In default of payment of the said amount, full restitution of their 53 percent ordinary fully paid shares in Zamsort granted to the new shareholders.They also want interest on the amount as by statute provided.They also seek an interlocutory orders for the preservation of the Mine’s mineral tenements.They had invested the said money in Kalaba Mine for recapitalization when it was faced with financial challenges way back in 2015.The plaintiffs filed an exparte order of interim injunction […]
Zamsort, Handa Resources placed under receivership
