By GRACE CHAILE LESOETSA
CHINESE investors have sought leave of the Lusaka High Court to appeal against its ruling awarding Government 30 percent shares in the famous Black Mountain in Kitwe.
Tianjin Maolin Science and Technology Company Limited and Nkana Alloy and Smelting Company Limited stated that they were dissatisfied with the ruling delivered on June 4, this year by Judge Gertrude Chawatama.
A judgement on admission was entered against the investor for 30 percent shares of the Black Mountain.
“The plaintiffs are totally dissatisfied with the ruling because it has effectively granted the defendant 30 percent shares in the Black Mountain and the plaintiffs’ desire to appeal against the ruling to the court of appeal.
“The plaintiffs have been advised and verily believe that this court made no order or pronouncement in the ruling on whether or not the plaintiffs have been granted leave to appeal against the ruling,” read the affidavit in support of summons for order of leave to appeal.
In this matter, the two firms had sued Government challenging the 50 percent takeover 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.
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 investor offering 20 percent of the Black Mountain material and willingness to buy some materials from the vulnerable women and other beneficiaries.
But Attorney General, Likando 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 Chawatama said that the investors did propose 30 percent share to government and judgement on admission was entered against the Chinese.