
Move🦬
616 posts

Move🦬
@WhedbeeJason
Simply living life. I live in the moment.



The chickens have come home to roost. Milingo Lungu who was the provisional liquidator for KCM is yet to account for the US$100m advance payment that Trafigura made to KCM. ZCCM-IH signed a guarantee basically saying that if KCM doesn't honour the agreement, come to us. Well in 2023, Trafigura did go to ZCCM-IH and demanded payment under the guarantee. ZCCM-IH didn't pay so in Feb 2024 Trafigura filed for arbitration against ZCCM-IH in London. On 16 Dec 2025, the tribunal issued a Partial Final Award, basically saying that ZCCM-IH can’t simply say “that guarantee doesn’t count.” The tribunal said it does count and it legally binds ZCCM-IH. Trafigura’s claim is for US$82,807,254.68 ZCCM-IH now has 6 weeks to submit which parts of the US$82.8m it says are not valid, and why. Then Trafigura will have 3 weeks to respond. Either way, Zambian tax payers will be paying this money which was looted. when KCM was under the provisional liquidator. PF was something else







































