ZCCM – IH vow to continue with FQM case

Pius Kasolo

The Zambia Consolidated Copper Mines (ZCCM) Investment Holdings has vowed to continue with the case in which it has sued First Quantum Minerals for a 1.4 billion USD.

President Edgar Lungu recently called on the state owned ZCCM-IH to consider an out of court settlement with FQM.

President Lungu calls was this week backed by the Association of Mine Suppliers and Contractors (AMSC).

But ZCCM-IH Chief Executive officer Pius Kasolo says the holding company will go ahead with the lawsuit in the High Court because the two parties have failed to resolve their matters.

Mr Kasolo says he has never heard President Lungu telling the media that he wanted the company to withdraw the case.

Mr. Kasolo has since described such media reports as mere speculation, adding that the company is still in court with FQM because the two parties do not have an amicable way of resolving matters.