ZCCM-IH Faces Constitutional Court Challenge Over Mopani Transaction

ZCCM Investments Holdings Plc (ZCCM-IH) has been named a party in a Constitutional Court case concerning a controversial transaction involving Mopani Copper Mines Plc and International Resources Holdings (IRH). Initiated by Honourable Miles Bwalya Sampa, the petition challenges the 2024 Mopani transaction, arguing it represents a significant state asset disposal that lacked parliamentary approval as required by the Zambian Constitution.

The petition seeks to nullify the transaction, claiming it violates Article 210 of the Constitution. It alleges the deal, presented as a share subscription, effectively amounts to a state asset sale. ZCCM-IH has joined the proceedings to address these claims. The company has advised shareholders to exercise caution when trading its securities and will provide updates as necessary.