Chief Government spokesperson Dora Siliya says government is not aware of any offer from Canada’s First Quantum Minerals to buy shares in the Zambia Consolidated Copper Mines Investment Holdings.
Ms. Siliya has explained that there is no official offer before government from FQM to the tune 700 million US Dollars to buy shares in the company.
She told a media briefing yesterday that government is therefore not considering any offer of such nature as it is not officially in existence.
Ms. Siliya says government has only seen the story in the media as cabinet has not sat to discuss any of such matters.
But Finance Minister Margaret Mwanakatwe disclosed yesterday that Zambia has received bids from Canada’s First Quantum Minerals (FQM) and others for a 17 percent stake in state mining investment arm ZCCM-IH.
“There are multiple unsolicited offers on the table, including from FQM, which are based on preferential share conversions,” said Margaret Mwanakatwe on the sidelines of a mining conference in Cape Town.
“The offers relate to the ministry’s 17 percent holding in ZCCM-IH and a sale would be subject to cabinet approval,” she said.
Government should not sell out to the mining company. Companies do this to eliminate shareholding government from accessing detail operation and oversight into their operations. It is all about keeping detail mining operations confidential and secrete from the Zambian government while foreign shareholders are free to accees and challenge the company’s operations. Shareholders are alowed to attend shareholder meeting and ask tough questions of the company’s operations. Without them there will be no oversight. Zambian government – becareful what you ask for.
So Dora says they are not aware. Margaret says they have received offers. It’s the silly season!
Complete chaos in this government.
When PF start to contradict themselves, just know that there’s something sinister. That’s why they fired Dr.Pius Kasolo last week. Most likely they’ve already received their bribes & just waiting for a right time to announce the sale.
In 2016 Lungu & Maggie traveled to Israel to sell ZCCM-IH to an “unknown investors” through Israeli shelf company called Sapir Capital, but Dr. Kasolo frustrated their evil efforts.
wwwDOTzambianobserverDOTcom/exclusive-unknown-israeli-company-behind-the-buying-of-govnt-satke-in-stake-in-zccm-ih-revealed/
(They even had the nerve to visit & pray at Jesus’ tomb after concluding the shady deal).
Alungu & your cronies, you’ll be jailed for selling country’s assets & prime land to foreigners.
Anything from DOA and Amos has to treated with a pinch of salt. Watch this space.
No Dora you are not aware ..you aren’t in the inner circle
Fusekeni
Dora Siliya should keep her lane, Margaret has confirmed that there are offers on the table because she runs the ministry responsible. She will table everything before Cabinet at an appropriate time. What I expected was a scale down by these foreign entities because of how they’ve reacted to the tax regime. I think Zambian copper is sweet, they won’t pack their bags to leave so get as much as you can
Plz don’t play this game of hide and seek with us.
What we expect is that offer or no offer, the government has no intention of selling its shares, period.
The actual intention should be to increase shareholding in the mines.
Read the article again
Uncoordinated response, is she in government or she is simply misguided? Mwanakatwe confirmed yesterday that the offer has been received and cabinet will make a decision. Is Dora oblivious or simply out of touch with reality? It speaks of volumes of the caliber of ministers we have in PF. They are either diametrically opposed or they are paying a blind eye to what is happening on the ground. If you don’t know simply say I will get back to you when I have all the facts.
“There are multiple unsolicited offers on the table, including from FQM, which are based on preferential share conversions,” said Margaret Mwanakatwe on the sidelines of a mining conference in Cape Town.
” But Finance Minister Margaret Mwanakatwe disclosed yesterday that Zambia has received bids from Canada’s First Quantum Minerals (FQM) and others for a 17 percent stake in state mining investment arm ZCCM-IH. ” Ba Maggie was Dizz forgive her, Tavern visits ba Maggie kikikikiki.
GRZ was also not aware of how Zambia ended up paying $42m for 42 firetrucks I presume .Ain’t that right Dorah ?
Or how a first lady went on a jolly jaunt to receive four retired fire tracks with an entourage of twenty five people for two weeks on our hard earned taxes!!! This is the height of irresponsibility! A time must come for accounting.
Zambians we need to be vigilante woth the people entrusted in managing our God given natural resources.
FQM its a sale yet Zaffico shares are not a sale
It boggles me how we keep recycling the likes of Dora Siliya in successive governments. Shall people ever learn? Surely is Zambia so deficient of qualified female personnel that year in year out we are rolling out recycled material? When are things ever going to change? This is exactly how she behaved towards the end of MMD! Am i the only Jew with proper eyes?
I wonder why the same government must have two different positions. It is difficult to believe this uncoordinated bunch of lairs. I think Dola issues here own opinions. She does not consult relevant ministries. Hers it to deny everything.
The minister of finance is aware of the offer but the chief government spokesperson is in the dark!! Kuti waseka. Before issuing this statement in her drunken stupor, Dora should have consulted her fellow drunkard who confirmed an offer from FQM. What kind of boma is this? Hakainde is NOT the alternative though
$700 or $700 million
The circus continues by an administration that run government like headless chickens. Obviously the two ministers are not singing from the same chorus sheet! The left hand does not know what the right hand is doing. Considering the sale of shareholding in the mines is the continuation of scotch earth policies of this government that has seen GDP shrinkage from the upward trajectory recorded in the last decade. Ineptitude and endemic corruption has been this administration’s hallmark. When they should be increasing their clout in the mines, they choose to shrink it; not surprising for a party whose signature song is DUNUNA REVERSE!!!!
Is comprehension in English still taught in our schools?
Dora is referring to ZCCM shares in Kansanshi Mine.
Maggie is referring to GRZ shares in ZCCM. Also she is referring to unspecified unsolicited offers in other mines from numerous sources other than from First Quantum.
Furores due to the incomprehension of English have always been created by those who need statements to be translated to valley or plateau tonga or whatever Tonga and some treatment of the side effects of foot and mouth (denkede).
Mwanakatwe was aware that GRZ received the bids but Dorah is not aware. It speaks volumes how this GRZ is in disarray,misguided and uncoordinated .
Those who are saying that Govt NEED TO WATCH, ALL IS THERE IS THAT THEY ARE HIDING SOMETHING, THEY ALREADY DECIDED THE STEALING AND NOW ARE DEBATING THE WAY TO ANNOUNCE IT TO THE PUBLIC!! Like others have noted, they are only waiting for the right time!!
Do our GRZ officials talk to each other before releasing statements like Dora did? I mean, Mwanakakwe said her ministry received unsolicited offer to buy GRZ interest but here is this useless minister saying the opposite.