Attorney-General, Kabesha, defends Mopani-Delta mining deal amid legal challenge

Attorney General, Mulilo Kabesha, has defended the transfer of a 51 percent stake in Mopani Copper Mines to Delta Mining Limited, asserting that the transaction did not require parliamentary approval under Article 210 of the Constitution.

Kabesha stated that the deal, which eliminated US$1.5 billion in debt, adhered to legal requirements and did not constitute the sale or disposal of a state asset.

The defense comes in response to a petition by PF faction leader Miles Sampa, who claimed the transaction violated constitutional provisions governing major state assets.

Sampa argued that ZCCM-Investment Holdings (ZCCM-IH), which initially owned 100 percent of Mopani Copper Mines, was a key state asset requiring parliamentary oversight.

In a submission to the Constitutional Court, Kabesha clarified that ZCCM-IH had previously held a 10% stake in Mopani, with Glencore owning the remaining 90 percent.

In 2021, ZCCM-IH acquired Glencore’s shares for $1 per share, gaining full ownership. However, financial constraints led to the issuance of 7,181,633 new shares, diluting ZCCM-IH’s ownership from 100% to 49 percent.

The newly issued shares were allocated to Delta Mining Limited, increasing Mopani’s total shares to 14,081,633.

Kabesha emphasized that this was a subscription to new shares, not a sale or transfer of assets, and argued that Mopani Copper Mines was not classified as a parastatal before or after the transaction.

Sampa, however, has called for the Constitutional Court to nullify the deal, citing a lack of transparency and urging compliance with constitutional safeguards in future transactions.

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