BY OLIVER SAMBOKO
A LOCAL Civil Society Organization, The Evangelical Youth Alliance (EYA), says it will this week stage a protest at the British Embassy in Lusaka to show displeasure at Britain’s silence over Arc Minerals.
Last month, the organization petitioned the British government, through its local Embassy to probe and remove Arc Minerals from the London Stock Exchange, for allegedly engaging in activities that are robbing Zambia of the much needed capital investment in the mine sector.
The petition was also copied to the Financial Intelligence Centre (FIC) and the Anti-Corruption Commission (ACC).
According to the petition delivered to the British Embassy in Lusaka, Arc Minerals which has majority shares in three mining companies, has allegedly been using the three companies to raise money at the London stock exchange which is then invested somewhere else.
EYA Executive Director, Moses Lungu said in an interview that EYA will tomorrow meet the police to notify them of its intention so that no one is accused of breaking the law.
He said there is need to protect local interests in the mining sector which has for a long time being subjected to manipulation by foreigners.
Meanwhile, a Lusaka clergyman Rev Davies Musonda has demanded that the British government should act on the petition against Arc Minerals, a British Virgin Islands registered company purporting to be running mines in Zambia.
Rev Musonda said the continued silence by the British government on a very serious concern involving a company registered on its soil is very suspicious and has potential to cause speculation that the company has the blessings of that government.
Arc Minerals has 66 percent shares in Zamsort, 66 percent shares in Handa and 72 percent shares in Zaco, all three companies registered in Zambia.
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