FORMER Foreign Affairs and International Cooperation minister Stanley Kakubo has reached a consent judgement with Kitwe-based Chinese investor Zhang Lianan after being sued for fraudulent misrepresentation in a failed mine transaction, demanding over US$800,000. In the lawsuit, Lianan named Kakubo and Hounslow Investments Zambia Limited as defendants. He sought a court order to rescind a partnership and joint venture agreement dated May 1, 2022, concerning Small Scale Exploration Licence No.25569, involving his mining company and the defendants. Lianan also demanded a refund of US$300,000, representing money paid towards the partnership agreement, as well as US$731,700 in consequential expenses incurred by him and Lianan Mining Ltd for mobilization, demobilization, and security services at the mining site, per the defendants’ request. Other...
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