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Government sues over cobalt sales

    JOHANNESBURG

    The Zambian government has instituted legal proceedings against Metal Resource Group (MRG) over a loss of about US $150 million in cobalt sales, the 'Post' newspaper reported on Friday. In a statement to parliament on Thursday, Finance and Economic Development Minister Katele Kalumba said MRG, contracted by the government to make the sales, had allegedly undervalued the cobalt. Kalumba said the Attorney General was following up the matter against MRG in order to recover the money from the Bahamas-based company. The case embarrassed the government when a report on an audit highlighting the discrepancy was published by local and international media.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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