Zambia court adjoins ZCCM to Sampa’s challenge on Mopani sale
Mopani Copper Mines. (Image courtesy of ZCCM Investment Holdings.)
A Zambian court adjoined the state-owned copper-mining company to a case brought by an opposition lawmaker challenging the sale of Mopani Copper Mines.
ZCCM Investments Holdings Plc was joined to the petition challenging the 2024 transaction on June 20, it said in a regulatory statement Thursday.
Miles Sampa, a former deputy commerce minister, contends that the transaction amounts to a disposal of a significant state asset and should have been subjected to prior approval by parliament, it said.
Sampa wants the court to declare the transaction unconstitutional, null and void.
ZCCM took control of Mopani from Glencore in 2021 after agreeing to pay the Swiss commodities giant $1.5 billion in a deal funded by debt.
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