The Extraordinary Organ Troika Summit, Plus SADC Troika, concluded with member states reiterating their regional commitment to the SADC mutual defense pact, wherein an armed attack against one member shall be considered a threat to regional peace and security.

In a communique released by SADC Executive Secretary Elias Magosi, the summit reaffirmed SADC’s dedication to solidarity, self-determination, and regional cooperation. Reports from ZANIS highlighted that Magosi further emphasized the summit’s focus on the peace and security situations in the Democratic Republic of Congo (DRC) and Mozambique.

The summit received updates on the ongoing challenges in the DRC and Mozambique, underscoring regional support towards achieving lasting peace, stability, and security in these nations. Magosi stressed the unwavering commitment to provide both diplomatic and military support to the government and people of the DRC to address the conflict in Eastern DRC.

Additionally, there was a collective pledge to intensify public diplomacy efforts to showcase the successes of SADC Peace Support Missions and counter any negative external narratives that could undermine their effectiveness. The summit expressed support for political and diplomatic processes, including the Luanda Process and the Nairobi Process, aimed at promoting peace and reconciliation in Africa.

Regarding recent correspondence from Rwanda to the United Nations and the African Union Commission regarding support for SAMIDRC, the summit expressed disapproval. However, gratitude was extended to the African Union Commission and the United Nations Security Council for their solidarity and support towards SAMIDRC, which complements ongoing diplomatic and political efforts in the DRC.

President Hakainde Hichilema, Chairperson of the SADC Organ, was commended for convening the Extraordinary Organ Summit and for his leadership in fostering regional cooperation for peace, security, and stability. President Hichilema emphasized the importance of global collaboration with international and regional bodies to address environmental challenges that threaten peace and stability.

He stressed the need for a more stable region to optimize resources towards improving livelihoods, especially in light of climate change exacerbating resource constraints. President Hichilema highlighted the continent’s agenda to mobilize capital, technology, and partnerships for joint ventures, focusing on beneficiation, value addition, job creation, and economic growth.

The remarks were made during the official closing of the extraordinary Summit, which also addressed contributions to SADC missions in the DRC and Mozambique. The summit concluded with a resounding commitment to regional peace, security, and prosperity, emphasizing cooperation and collective action to address challenges and promote sustainable development across the SADC region.

Court proceedings in a case involving former Foreign Affairs Minister Stanley Kakubo and a businessman of Chinese origin, Zhang Lianan, have been discontinued following a Consent Judgment entered between the two parties.

The Consent Judgment, drawn pursuant to Order 42 Rule Five of the Supreme Court, signifies that both Mr. Zhang and Mr. Kakubo have agreed not to pursue any further legal action against each other. Additionally, Mr. Kakubo has been ordered to make restitution to Mr. Zhang, as per the terms outlined in the judgment.

Under the terms of the Consent Judgment, Mr. Kakubo will be required to pay $300,000 in installments to Mr. Zhang, who will also be receiving the restitution of a Mercedes-Benz Registration Number 6952 from Mr. Kakubo.

Importantly, Mr. Zhang has exonerated Mr. Kakubo from allegations of receiving any inducement for business transactions, further adding a twist to the case that unfolded last month. Initially, Mr. Zhang had sued Mr. Kakubo for misrepresentation over a mining business partnership, demanding over one million U.S dollars in damages.

Mr. Zhang alleged that Mr. Kakubo, claiming to be the majority shareholder of HUNSLOW Investment, enticed him into a mining business partnership in May 2022. According to Mr. Zhang, the partnership was related to an exploration small mining license number 25569 in Chingola, with the potential of converting it into a mining license.

However, Mr. Zhang claimed that it was later revealed that the mining exploration license number 25569 had been converted into a mining license, which was in the process of being sold to Grizzly Copper Mining. These allegations were outlined in the Statement of Claim filed in the Lusaka High Court.

With the discontinuation of court proceedings and the agreement reached through the Consent Judgment, the matter between Mr. Kakubo and Mr. Zhang has come to a close, bringing an end to the legal dispute.

Mopani Copper Mines, a cornerstone of Zambia’s mining industry, took center stage as President Hakainde Hichilema officially unveiled its new strategic equity partner, International Resources Holding.

President Hakainde Hichilema has officially unveiled International Resources Holding, the new strategic equity partner for Mopani Copper Mines.

Speaking during the unveiling ceremony in Kitwe yesterday, President Hichilema said the occasion marks a significant turnaround for the economy of not only the Copperbelt but the country as a whole.

This revitalization promises to not only invigorate Kitwe but also uplift livelihoods across the Copperbelt and beyond.President Hichilema said Mopani is a prized asset for Zambia, and should not be a place to dump liabilities.

“In partnership with International Resource Holdings (IRH) from Abu Dhabi, we are embracing a new era for Mopani Copper Mines. This moment, long awaited by our citizens, is not just a handover but a meticulously negotiated partnership that represents mutual respect and equitable benefits,” expressed President Hakainde Hichilema during the unveiling ceremony in Kitwe.

President Hichilema emphasized the importance of Mopani as a crucial asset for Zambia’s economic prosperity. He stressed, “Mopani should not be viewed as a burden but rather as a beacon of growth and opportunity.” This sentiment was echoed by various stakeholders, including local leaders and mining union representatives.

“The partnership with IRH signifies a strategic move towards rejuvenating not just Mopani but also Kitwe and Mufulira, breathing new life into these vital mining hubs,” highlighted President Hichilema. He expressed optimism about the future of Mopani, foreseeing an increase in copper production from 65,000 metric tonnes to an impressive 230,000 metric tonnes.

“We are committed to ensuring that this partnership benefits all stakeholders involved. Our goal is not only to enhance production but also to create more job opportunities, enhance job security, and boost business prospects,” President Hichilema affirmed.

“We express our profound gratitude for the re-launch of Mopani Copper Mines in partnership with our new joint venture partners, International Resource Holdings (IRH) from Abu Dhabi. This moment, long awaited by our citizens, is not a handover but a meticulously negotiated partnership with IRH that represents mutual respect and equitable benefits. Our citizens will retain a 49% shareholding through ZCCM-IH, affirming our commitment to national benefit.

The $1.1 billion investment from IRH marks a significant milestone, being the first substantial investment from the UAE in Zambia, with more expected in green energy and other sectors.

To support our local suppliers, Mopani has initiated a Supplier Development Program aimed at bolstering the capacity of Zambian suppliers by providing access to capital and business development services.

We urge Zambian businesses to draw inspiration from their counterparts in the UAE, who have transformed their economy through astute management of their oil resources,”President Hichilema said

Moreover, the significant reduction of Mopani’s debt from $1.5 billion to $576 million under the UPND administration underscores a commitment to financial stability and responsible management. Mines Minister Paul Kabuswe affirmed, “The challenges plaguing the mining sector are now being addressed, marking a positive turnaround for the country.”

“The partnership with IRH has been met with widespread optimism and support from various stakeholders,” noted Ali Rashid, CEO of IHR. He expressed excitement about the opportunities ahead at Mopani, emphasizing the positive impact the partnership will have on the local economy.

Local leaders, including Copperbelt Minister Elisha Matambo and Mine Suppliers and Contractors Association President Costa Mwaba, voiced hope for increased opportunities for Zambian businesses and workers. “We are hopeful that this partnership will lead to more contracts for local suppliers and create avenues for economic growth,” stated Costa Mwaba.

Amidst this renewal, the call for a commitment to a decent work agenda and the fulfillment of production targets has been reiterated by Mine Workers Union of Zambia President Joseph Chewe. Chief Nkambo of the Lamba Lima Royal Council highlighted President Hichilema’s visionary leadership as instrumental in Mopani’s resurgence.

Charles Sakanya, CEO of Mopani, expressed confidence that the partnership with IRH would enable the completion of long-awaited expansion projects, further propelling the mine’s growth trajectory. “We are entering a new chapter in Mopani’s history, and we are excited about the opportunities that lie ahead,” remarked Sakanya.

As Zambia embarks on this new chapter in its mining industry, hopes are high for sustainable development, economic prosperity, and shared success for all stakeholders involved. “This partnership marks a significant milestone in our journey towards a brighter future,” concluded President Hichilema.