By GRACE CHAILE LESOETS
GOVERNMENT will own 30 percent shares in the famous Black Mountain located in Kitwe after the Lusaka High Court entered judgement in its favour.
Chinese investors Tianjin Maolin Science and Technology company limited, and Nkana Alloy and Smelting Company limited had sued government challenging the 50 percent take- over of the Black mountain.
They wanted the court to order the Minister of Finance, who is the golden shareholder not to take 50 percent of the Black Mountain and exit the Nkana Alloy.
They wanted an order for Ministry of Mines and Mineral Development not to demarcate 50 percent of the Black Mountain offered by them.
Tianjin Maolin and Nkana Alloy sought an order that Government would exit within 30 days of the judgement of the court.
And also an order that Government will grant the mining licence to Nkana Alloy within 30 days of the judgement of the court as well as that the Ministry of Home Affairs and Zambia Police Service will provide security to the Black Mountain and the companies’ staff .
Attorney General Likando Kalaluka is the defendant in the matter.
Tianjin Maolin stated that there were negotiations between the golden share holder, Ministry of Home Affairs and Ministry of Mines and Mineral Development with the Chinese investors offering 20 percent of the Black Mountain material and willingness to purchase some materials from the vulnerable women and other beneficiaries.
But Mr Kalaluka submitted that after the demand of the 50 percent stake, the Chinese agreed to initially cede a 20 percent stake and later on agreed to cede a 30 percent stake to the Minister of Finance.
Mr Kalaluka applied to enter judgement on admission based on the negotiation.
In her ruling, Ms Justice Gertrude Chawatama said that the investors did propose 30 percent share to government.
