Mopani sale is illegal
Dear Editor, THE sale of 51 percent shares in Mopani Copper Mines (MCM) by the Zambian government to International Resources Holding (IRH) of Dubai in the United Arab Emirates (UAE) at US$1.1 billion is illegal.
International Resources Holdings is part of Delta Mining Limited. It is in public domain that the transfer of 51 percent shares in Mopani and the subsequent hand over of the mining giant to IRH is illegal.
The illegality of the Mopani deal arose from the fact that procedures were not followed. According to the Zambian constitution, the transfer of national assets has to be approved by Parliament through a two-thirds majority vote. Unfortunately, this was not done and it renders the Mopani deal illegal.
However, the sale of Mopani to the equity partner is in breach of Article 210 subsections 2 and 3 of the constitution of Zambia. Act Number 2 of 2026 states:210. (2) A major State asset shall be sold, transferred or otherwise disposed of, as prescribed, subject to the approval of the National Assembly signified by a vote of at least two thirds of the Members of Parliament.
210. (3) For the purposes of this Article, "major State assets "includes a parastatal and equity held by the government is prescribed.
Industrial Development Corporation (IDC), Ministry of Finance and National Planning and National Pension Authority (NAPSA) have shares in Mopani Copper Mines and they were supposed to acknowledge the deal.
President Hakainde Hichilema said during the handing over of Mopani that the coming of International Resources Holding is a new chapter to celebrate.
President Hichilema said Kitwe and Mufulira will be rejuvenated where the mines are domiciled. He also said that the new equity partner will create employment opportunities for the local people.
President Hichilema's statement that the new equity partner will create employment opportunities is questionable. This is because it is too early to judge. International Resources Holding might not actualise some of its promises. That said, it is imperative that IRM should be put on observation let alone reverse the sale of the mining firm.
The sale of Mopani Copper Mines is illegal and a sham. This is because proper procedures were not followed by the approval by Parliament. Under normal circumstances, such a deal must be reversed because it was not properly done. ELEMIYA PHIRI, Lusaka.