Zambia : Police inaction seriously harms the interests of Zambia and ZCCM-IH

1.
The Minority Shareholders of ZCCM-IH had noted the following facts presented in the press :
– December 12, 2019 : “First Quantum Minerals (FQM) directors have been accused of misappropriating $520 million by fraudulently diverting it to a sister company. Investigations are still at the initial stage but basic facts are that, on 26 August 2019, First Quantum directors acting together with their appointed directors in Kansanshi Mining Plc transferred $520 million USD belonging to Kansanshi Mine to a sister company, without following laid down procedures and without the approval of the Kansanshi mining PLC Board.
The suspects have been named as Philip PASCALL, Arthur PASCALL, Clive NEWALL, Rudi BANDENHORST, Hannes MEYER, LAMASWALA, Chisanga CHEKWE and Dr Godwin BEENE.

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