In an effort to assist Government with their search and rescue mission of the 38 trapped miners at the Copper Mines, the Trade Kings Foundation donated K250,000 as a contribution to the Government efforts to execute the rescue operations and manage the impact of the disaster.
Speaking at the occasion Trade Kings Group’s Public Relations Manager, Ms Kambobe, expressed sympathy towards the families that have lost relatives in this disaster and those who are anxiously waiting for the rescue of the family members through the disaster management unit. She stated that the Foundation joins the Government, the rescue team, and well-wishers during this heart-wrenching situation that has affected not only the people of Chingola, but the rest of the country as well.
Upon receiving the donation, the Honourable Minister of Mines, Paul Kabuswe, thanked the Trade Kings Foundation for their timely yet selfless donation to the Government’s effort in rescuing the trapped miners following this disaster. He further said, “My office is extremely grateful for the support that the Trade Kings Foundation has given to the people of Zambia, not only to this disaster, but other disasters such as, recent floods, cholera and the COVID-19 pandemic. Your love and passion for the Zambian people are unrivaled and commendable.”
As the Government continues to make progress in the rescue operations of the trapped miners at the Seseli dump site, the Trade Kings Foundation wishes the safe return of everyone involved.
(Mwebantu, Monday, 11th December, 2023)
ACC nab senior accountant, businessman
A LUSAKA based senior accountant has been arrested by the Anti-Corruption Commission (ACC) alongside a business man for possession of property suspected to be proceeds of crime.
Kasemuka Chiteta, a senior accountant stationed at police headquarters has since been charged with one count of possession of property suspected of being proceeds of crime.
ACC head of corporate communications Timothy Moono said in a statement that Kasemuka Chiteta on dates unknown but between 7th April, 2023 and 12th February 2024 in Lusaka District, concealed possession of a motor vehicle namely Toyota Landcruiser BAD4360 registered under the ownership of Chimuka Chibawe a Lusaka based businessman.
“In a similar development, the ACC has arrested and charged a Lusaka based businessman, Chimuka Chibawe of plot No. 136 C Kalomo road Chilenje” Mr Moono said.
He said Mr Chibawe has been charged with one count of Possession of Property Suspected of Being Proceeds of Crime contrary to Section 71 (1) of the Forfeiture of Proceeds of Crime Act No. 19 of 2010.
“Details of the offence are that, Chimuka Chibawe on dates unknown but between 7th April, 2023 and 12thFebruary 2024 in Lusaka, concealed possession of a motor vehicle namely Toyota Landcruiser BAD4360 registered under his names when the beneficial owner is Mr. Kasemuka Chiteta a Senior Accountant at Police Service Headquarters,” he said.
The pair has since been released on bond pending court appearance.
(Mwebantu, Thursday, 29th February, 2024)
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Delta Mines acquires 51% stake in Mopani Copper Mines in $1.1 billion deal.
DELTA Mines Plc, has concluded the acquisition of 51% shareholding in Mopani Copper Mines (MCM) translating into a US$1.1 billion investment into the mine.
In a statement, ZCCM-IH Corporate Affairs Manager Loisa Mbatha said ZCCM-IH will retain 49% shares in Mopani, with 3 out of 9 board seats while Delta will have 5 and government one seat
She said the approval was made during a Shareholder’s Extraordinary General Meeting (EGM) held in Lusaka last week.
“ZCCM Investments Holdings Plc (ZCCM-IH) shareholders have unanimously approved the Mopani Copper Mines Plc (Mapani) transaction where Delta Mining Limited (Delta), a subsidiary of International Resource Holdings (IRH), has agreed to acquire a 51% shareholding in Mopani for a total investment of up to US$1.1 billion,”she said.
ZCCM-IH Board Chairperson Kakenenwa Muyangwa said the transaction is a landmark achievement that delivers significant value to ZCCM-H, Mopani, and the Zambian people.
“It’s pleasing to note that IRH has committed to retain Zambian workers, including the management team, who will be complimented by new skills and expertise from Delta to facilitate the expansion of MCM production to 200, 000 tonnes per annum”, said Mr Muyangwa.
ZCCM-IH Board Director Phillippe Taussac who represents minority shareholders said that “the extinguishing of the Mopani $1.5billion debt that ZCCM-IH had guaranteed, will certainly lead to significantly improved financial performance for all ZCCM-H’s shareholders.
(Mwebantu, Tuesday, 27th February, 2024)