Parliament has directed that the Minister of Mines presents a comprehensive statement on the sale of Mopani Copper Mine.
The sale has generated alot of suspicion with the opposition alleging corruption.
The Minister is obligated to clarify why the government’s 51% stake in Mopani, held through ZCCM-IH, was transferred to Delta Mining without seeking parliamentary approval. Such a constitutional breach by the President constitutes grounds for impeachment.
Although the government announced that Delta Mining Limited, a subsidiary of International Resource Holdings, had committed to acquiring the 51% stake in Mopani with an investment of up to US$1.1 billion, Delta Mining ultimately injected only US$130 million into Mopani.
The government has not clarified the source of the remaining funds, leaving a troubling gap in transparency.
It raises the question: as why the government choose to allocate over US$500 million from NAPSA for the Lusaka-Ndola dual carriageway, rather than invest US$130 million directly in Mopani Copper Mines to ensure full retention of mineral wealth revenue? Who are the true owners of Delta Mining Limited? These are questions being asked.