THE Auditor General’s report on the Accounts of Parastatal Bodies and other Statutory Institutions for the financial year ended December 31, 2019 has revealed that the Industrial Development Corporation Chief Executive Officer requested the Board Chairperson of ZCCM-IH to advance Maamba Collieries Limited US$10 million without the approval of the ZCCM-IH board of directors. And the report has revealed that TAZAMA experienced 33 leakages along the pipelines resulting in a total loss of 631.22 metric tons of crude oil costing K4,413,029. The report stated that Maamba Collieries failed to pay ZCCM-IH back a shareholders Loan resulting in an outstanding amount of US$32,876,090. “Maamba Collieries Limited (MCL) is a 300MW electricity thermal powered company owned by ZCCM-IH Plc (35 percent) and...

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