By BARNABAS ZULU FORMER Deputy Finance Minister Newton Nguni has demanded for a detailed and comprehensive explanation from the government on the opaque transaction on the Mopani Copper Mines (MCM) whose 51 percent shares have been awarded to a Dubai-based company, Delta under the International Holdings Resources (IHR). The Mopani Mine shares were initially held by Zambia Consolidated Copper Mines – Investment Holdings (ZCCM-IH) after Glencore. Mr. Nguni’s demand for clarity comes after Minister of Mines and Minerals Development Paul Kabuswe made a fresh ministerial statement on Thursday, in which he claimed that Mopani was not a parastatal and the government did not need to seek the approval of Parliament in the transaction. “Mr Kabuswe should not insult us in such a manner. In government, you cannot do a wrong thing to achieve a good thing. All the time, procedures must be followed. The Mopani issue is not about investment per se. It is about […]
