ZCCM-IH Joins Court Petition Over Mopani Copper Mines Transaction

ZCCM Investments Holdings Plc (ZCCM-IH) has been drawn into a legal case challenging a 2024 transaction concerning Mopani Copper Mines Plc (MCM). This transaction, involving International Resources Holdings (IRH), raised constitutional questions when initiated by Honourable Miles Bwalya Sampa. Sampa's petition asserts that the deal effectively constituted the disposal of a significant state asset, requiring prior parliamentary approval under Zambia's Constitution Article 210.

ZCCM-IH, previously a full owner of MCM, contests these claims, arguing the transaction did not breach constitutional rules. The company will continue updating stakeholders as the case evolves and advises caution in trading its securities during legal proceedings. ZCCM-IH emphasizes the importance of seeking professional investment advice. The case underscores the legal complexities surrounding state asset transactions and regulatory compliance.