ZCCM-IH Faces Court Challenge Over Mopani Transaction

ZCCM Investments Holdings Plc (ZCCM-IH) has issued a further cautionary announcement concerning a legal petition related to the 2024 transaction involving Mopani Copper Mines Plc (MCM) and International Resources Holdings (IRH). On June 20, 2025, ZCCM-IH was joined as a party in a Constitutional Court case initiated by Honourable Miles Bwalya Sampa against the Attorney General of Zambia.

The petitioner contends that the transaction, executed while Mopani was fully owned by the state-controlled ZCCM-IH, represents the disposal of a significant state asset. It allegedly required parliamentary approval under Article 210 of the Zambian Constitution. Consequently, the petitioner seeks a declaration of the transaction as unconstitutional and requests its nullification.

ZCCM-IH, contesting the claims, argues that the transaction does not fall under Article 210's obligations. The company promises further updates as proceedings advance, urging shareholders to exercise caution and seek professional advice.