Presidential aspirant Makebi Zulu says he will renegotiate the Mopani Copper Mines deal once elected into August this year.
Mr Zulu says the deal is not serving the interest of the Zambian people.
He said the existing agreement has failed to deliver meaningful benefits to citizens, arguing that the structure of the deal disadvantages the country.
Speaking during an interview on the Burning Issue programme on 5FM Radio, Mr. Zulu questioned the manner in which the government disposed off 51 percent shares of the mine.
He alleged that the shares were sold for approximately 650 million dollars to a company that lacked the capacity to effectively run the mine.
Mr Zulu further alleged that the transaction was irregular, stating that the purchasing company did not inject its own funds into the acquisition.
He further alleged that the 650 million dollars
Purchase money was not given to the Zambian people but instead was used by the company to operate the mine, effectively making the sale amount to “zero value” for the country.
He said the money should have been deposited in control 99 as the people’s money and should have been directed towards national development and improving citizens’ livelihoods.
Mr Zulu also said the government did not take the matter to parliament for approval.
He said such transactions need to benefit both the investor and the citizens.
