COPPERBELT BASED CLERGYMAN THANKS HH FOR REVAMPING MOPANI, KCM
…..but he is deeply concerned about the performance of Vedanta, the investor currently running KCM
Copperbelt…. Monday November 11, 2024
A Copperbelt based Clergyman Pastor Christopher Kalunga has praised President Hakainde Hichilema for revamping Mopani Copper Mines and Konkola Copper Mines (KCM) Plc.
Pastor Kalunga says this move by the Head of State was meant in good faith aimed at helping more especially the people of the Copperbelt.
He said Mopani Copper Mines has done well so far in terms of creating job opportunities for the local people.
He is however, concerned with the performance of Vedanta Resources at KCM since they took over the operations of the mine.
“First and foremost, we wish to express our sincere gratitude to His Excellency, President Hakainde Hichilema, for listening to the concerns of the Copperbelt people and taking action to reopen the major mines in the region, namely Mopani Mine and Konkola Copper Mines. We believe the President’s decision was made in good faith, with the aim of creating jobs and improving the living standards of our people. However, we are deeply concerned about the performance of Vedanta, the investor currently running KCM,” he said.
“Since taking over the management of KCM, we have seen little progress. The promises made by Vedanta to create significant job opportunities for our youth have not materialized, and there has been a lack of communication regarding their plans. We are receiving numerous complaints, and it is becoming increasingly clear that Vedanta has not fulfilled its financial commitments to recapitalize the mine. This raises serious concerns about the company’s ability to manage KCM effectively.”
He indicated that before Vedanta officially took over KCM, they made bold commitments, including the promise to inject US$20 million for corporate social responsibility projects and to recapitalize the mine.
“However, to date, the people of Chingola, Chililabombwe, and surrounding areas have seen no tangible results. There are no visible signs of progress, and we are left questioning whether Vedanta is truly committed to improving the situation at KCM,” he added.
“We believe it is time to acknowledge that Vedanta may not be the right investor for KCM. We respectfully appeal to the Government to consider engaging the investor running Mopani Mines, which has demonstrated significant progress. We recommend that this investor, IRH, be brought on board to partner with the Government in managing KCM. The positive developments at Mopani Mine serve as a clear example of what is possible when an investor is committed to the growth and sustainability of a mine.”