There are stories flying around that Mr Hichilema has sold to himself, Mopani Copper Mines.
These stories will not simply disappear because the public doesn’t know what Mr Hichilema owns or does not own, what Mr Hichilema has bought or not bought. Mr Hichilema doesn’t disclose what he owns. This is also complicated by the fact that Mr Hichilema doesn’t own everything he owns directly – he has often used proxies or all sorts of fronts.
It is being reported that around June 20, 2023, four firms were shortlisted as successful bidders for the acquisition of a stake in Mopani Copper Mines. These firms were Sibanye, Zijin Mining, Norinco Group, and a Consortium of exGlencore officials.
And that around July 2023, it was rumoured that Sibanye Still Waters and Zinjing were the only two remaining successful bidders contending to acquire equity in Mopani Copper Mines after Norinco Group and a Consortium of ex-Glencore officials were dropped.
It is also being reported that around August 2023, a “secret” company threw in a late bid through State House, and this delayed the announcing of the successful bidder for Mopani Copper Mines.
And that On October 17, 2023, it was announced that Jubilee Metals Group and Mopani Copper Mines formed a JV for the Slag Project in Mufulira, targeting 13 Mt of historical slag with estimated copper and cobalt deposits.
That on December 1, 2023, ZCCM-Investment Holdings announced that an affiliated company of Abu Dhabi conglomerate International Resources Holdings (IRH) is the preferred bidder to take over Mopani Copper Mine (MCM)
And that on December 12, 2023, it was announced that Jubilee Metals Group had formed a strategic partnership with Abu Dhabi-based International Resources Holdings (IRH) to recover copper from a historic waste dump in Zambia. This partnership entailed that “Under the funding term sheet IRH undertakes to provide all capital to the tune of $50m required by the special purpose vehicle through a combination of equity in the special purpose vehicle and shareholder loans.
On March 6, 2024, it was announced that Jubilee Metals Group plc, a leading diversified metals processor in Africa, with a substantial contribution to global chrome concentrate production in South Africa (SA Operations) and expanding copper operations in Zambia (Zambia Operations), has announced the formation of dedicated executive subsidiary boards to better reflect the current levels of business maturity attained by the South African and Zambia operations and capture and implement the various growth opportunities. The Zambian Board will include Jubilee’s Chief Executive Officer, Leon Coetzer, as chairperson of the Zambian Board and joined by current Chief of Energy Metals, Ricus Grimbeek, as Managing Director. Mr Muna Hantuba, a businessman offering a wealth of local industry and country knowledge, will also join the Zambian Board.
Who is Mr Muna Hantuba? Mr Hantuba is a long-time close business associate, agent, and confidant of Mr Hichilema and is said to be the man running some of his businesses.
It’s being reported that the above sequence of events starting from the coming of the International Resources Holdings late bid for Mopani Copper Mines through State House and eventual success of the same bid and then the Jubilee Metals Group’s JV with Mopani Copper Mines vis a vis the partnership of Jubilee Metals Group with the International Resources Holdings (IHR) and the $50 million loan by IHR to Jubilee Metals Group to the appointment of Mr Hantuba is something that should raise eye brows as it can be a case of a deal by State House disguised in investment into Mopani.
It is being questioned if this is a mere coincidence that Mr Hichilema’s confidant and business associate and agent can be associated with the sale of Mopani and have an indirect stake in the slug dump by virtual of sitting on the Jubilee Metals Group Board?
These reports, observations, and questions being raised deserve a response from Mr Hichilema, especially that he has sold a huge public stake in Mopani Copper Mines without parliamentary approval in blatant violation of the Constitution of the Republic of Zambia.
Fred M’membe
Facebook post
He’ll not respond, he’ll instead unleash a barrage of insults and demeaning invectives. They’ll also challenge you to report him to Musamba if you have any evidence. Now the UPND agenda has been fully achieved. They have conquered. They had 3 programs for Zambia. 1 to defeat the Bemba by having their own as President. 2. To ensure that there’s at least 3 Tongas or more in every institution. 3. To continue to cut privatization deals.
You’re not a Zambian. Speak of issues that make sense here. You’re just a nothing but proper PF cadre who’s stock in trade is nothing but HH. What an ***** and a hater, go to hell with your Lungu.
Where did this tribal hatred come from ? Please come to terms that there is no superior tribe in this Country. One day on your dying bed you will realise there is no profit in hating other people because your mother told you, your father comes from the North or South.
Those whose villages were burnt down in Namwala, and those that were beaten and some killed in January 2015 and August 2016 in Southern province weren’t Bembas by fellow Bembas. Those that composed mubemba ngu Satana weren’t Bembas. So shut up. Civil strife is just in your imagination.
Mobutu had so much wealth that it was said he could’ve paid off Africa’s foreign debt and could’ve still remained wealthy. He died miserably in Morocco and no one knows where that wealth is not even his children. We might have a similar case in Zambia whereby the most wealthy individuals can’t account for their wealth and their descendants won’t know what they owned. It’s all in vain. Whoever thought that one day FTJ’s children will end up like that? We don’t learn
Bwaa ayatola, mabutu’s wealth was private Even the peoples of the Early stone age can also help you to understand that even rich people die and when they die their offspring/relatives inherit their wealth. and the wealth is treated as solely private. so , bwana just work hard and build your own wealth .HH’S Wealth has nothing to do with you nor the nation. whether declared or not it SHALL REMIN FOR HICHILEMA FAMILY
This is malicious of you to talk of Tongas in this manner. When pf was in power, all positions in nearly all Ministries and Parastatal companies were occupied by Northerners and Easterners. Even today, some are still being run by the same people. Did the Tongas you hate with a passion ever rise and say this government of such a tribe must be replaced? The Zambians in 2021 did not vote for a Tonga president but for a Zambian who would bring development and economic prosperity.
WE ARE ONE ZAMBIA, ONE NATION!
This campaign of singling out Tongas by Mmembe did not start today. It has been his mission even during the defunct post newspaper. He wants to divide the nation.
Elo iwe Ayatollah, be reminded that if civil strife breaks out in Zambia, you, your relatives, and your friends will also be affected. I urge Zambians to be careful with what some selfish and failed politicians are up to.
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Cde Membe is a seasoned propagandist……..
All degenerative dark speculation here………
If there was any merit in what cde membe is elequently speculating……
International investigative journalists would have been all over this………
Forwadee 2031………..
and what a coincidence…..just when Mopani is being handed over. ..the Chinese man apologized and next thing the court discontinues the case….Kakubo is also one of the main beneficiaries of Mopani Mining deal…..Spaka are you still celebrating we told you yesterday and please save all the screen shots
How do you expect HH to disclose details when he sold the Mopani to himself with the Arabs as a coverup….Indians and Arabs are the worst when it comes to illegal deals and corruption
The sad fact is that every President gets kickbacks from 90% of the deals…especially Military contracts and Mining….remember George Bush and Dick Cheney destroying Iraq and awarding a contracts to Dick Cheney’s company to rebuild Irag….All Politicians are criminals
ARE A Disciple of any of those now facing Corruption charges? Bwana, in new dawn terms and phrases like “kick backs”, “nchekelako”, “ubomba mwibala …” and “khark envelope.” do stink. Only those …… have shamelessly continued using them
IF YOU’RE NOT HAPPY , WRITE ANOTHER SUPPLEMENTARY LETTER TO USA, TO ADD TO That Of UKWA. THEIR MESSENGER IS STILL IN USA BUT UNFORTUNATELY HE IS STILL STRUGGLING WITH THE ISSUE OF LOCATING THE RIGHT POSTAL OFFICE . IN AMERICA, CROOKS FIND IT VERY DIFFICULT TO POST THEIR LETTERS
My question to LT, “does this rubbish article warrant publication”?
I have asked on previous occasions, “are you a news publication or a rag which publishes unsubstantiated comment and propaganda?
Your journalistic standards are very low and plummeting every day.
I know that there are many newsworthy activities taking place in Zambia, but looking at your publication you would not think so.
I have noticed that you are running a campaign seeking subscribers, who in their right mind would pay money and signup for such a low-level publication. I thought about it and then said to myself “never”, at least not until the quality of journalism improve.
LT you really have to up your game.
Dr. M’membe, you know that asking your brother-in-law to answer questions about his corruption is like trying to squeeze blood out of a stone. You will get no answer but insults from his mouth piece you know who? He recently admitted how they worked with Kambwili to discredit other people.
In Zambia, journalists and politicians are all insane, do not know what to say and comment. I do not enjoy their trash information.
What is the difference? In Zambia politicians masquerade as journalists and vice versa: Fred Mmembe, Emmanuel Mwamba, Anthony Dickson Jere Sakala Richard etc etc are journalists one day and politicians another day. The profession of journalism is a convenient hideout for most noisemakers or should we say chancers?
Dangerous sensational zealot this guy is. He does not mean well. He got rich selling sensational stories using his defunct Post newspaper. In the process he ruined the lives and reputations of many. Wantonly invaded the privacy of many. We need laws to protect the citizens from such rogue journalism. The motive for sensationalism, profits and political capital should not override peoples’ privacy and reputation. Why does LT and others publish sensational innuendos. Unless I see tangible proof (paper trail). This nothing, but nkhani yamu kachasu. We can do better than this as Zambians.
For me I would rather wait and read the share transfer/sale agreement and isolate the conditions attached, hopefully with expenditures tied to timeframes. Ordinary people on the Copperbelt are happy with this development. CB has been literally dead economically. Miners are also happy, Glencore was too hard nosed and the white South African managers were seen as scammers and racist. The cost of those shafts Mmembe is talking about were hyperinflated by the white South African who were fleecing Mopani. Local contractors were phased out in preference to those from SA. Hospitals, schools and football clubs (black) were neglected, whilst (white) rugby, boating & sailing and golf were sponsored by Mopani. Ba Lusaka put your feet on the ground before your write. But let’s wait and see.
Trust or believe anything that Fred M’membe says at your own peril .This guy was a cheerleader for the PF which got us into economic mess yet he now acts as a know -it -all self righteous advisor.
Without shame, Membe, a well known tax evadeer in the 21st century begins writing , ” It is rumoured that ……………”‘ And goes on ” it is rumoured that …………” is a friend
of HH” And ends by saying, ”HH has bought all the mines for himself.” and that only tongas are involved in the transanction of the mines. WHAT a confused bitter politician. please stop uttering nonsensical popoos. Each day you wake people expect a lie about HH From you, you dont even talk about your party! No wonder it cant even win not even a sngle BY-ELECTION. Wait for 2026 election ,us the youths of the Copperbelt shall show you that , HH MEANS WELL TO US
By the way. is Nawakwi a sisiter to Membe? If they are not a brother and a sisiter , they should just marry each other, because birds of the same feathers flock together. In that way, as a political couple they may favorably enjoy writing and sharing new lies, insults and tribal labels against HH, day and night both publically and confidentially/secretly.
So M’membe, you were happy that Copperbelt was slowly becoming a ghost province? Its good the mine is now running. Do you ever look back and see how you abused others with your Post newspaper ?