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LUSAKA BUSINESSMAN GRANTED INJUNCTION ON GOLD DEAL

By GRACE CHAILE LESOETSA

A Lusaka businessman has been granted an injunction restraining Chilibwe Mining Limited from receiving any payment arising from the Zambia Gold Mining Limited-PCB mining Limited Joint Venture.

In this matter, Hazem Mohamad Bahij Kaddoura has sued Chilibwe Mining in the Lusaka High Court seeking a declaration that he is entitled to 33 percent of the latter’s percentage stake in the Zambia Gold ltd-PCB Mining Joint Venture. He wants the court to order Chilibwe Mining to give a full account of all the partitions, subdivisions, assignments and developments occasioned on large scale exploration license no. 22102-HQ-LEL.

He is also seeking interest on all sums found due.

Mr Kaddoura in his statement stated that he entered into a deed agreement with the Mining firm with regards to the large-scale exploration licence no.22102-HQ-LEL, being a large-scale tenement located in Mwinilunga, North-Western Province.

He stated that it was agreed that he was entitled to 33 per centum share of proceeds of Chilibwe’s interest of aby scale or investment into the tenement.

He applied for an injunction preventing Chilibwe Mining from receiving any payment from Zambia Gold ltd-PCB until the determination of his case. Judge Mathew Zulu granted Mr Kaddoura the injunction ordering that any pay payment due to Chilibwe be made to court by Zambia Gold ltd or PCB Mining ltd.

“Restrained from further subdividing of the tenement large scale exploration license number 22102-HQ-LEL  until further determination of this  action  or further order of this court and that the costs of and incidental to this application be in the cause,” the court ordered.

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