GOVT’S INEPTNESS TO CONCLUDE VEDANTA – KCM DEAL WORRIES ZUPED
…. Govt should quickly finalize this deal to avoid speculations
Monday… December 11, 2023 (SMART EAGLES)
Government’s slowness in finalizing the Vedanta – Konkola Copper Mines (KCM) agreement is worrying, charges the Zambia Unity Peace and Development (ZUPED).
ZUPED President Ronnie Jere says the people of Zambia are eager to start benefiting from this asset.
Mr Jere is of the view that the continued delay may cause speculations in the eyes of the people of the Copperbelt.
He has urged the Ministry of Mines and Minerals Development, Ministry of Justice and other line ministries to expedite this process so that KCM can be up and running.
“As Zambia Unity Peace and Development (ZUPED) we are worried that we are now getting into the second week of December and up to now, government has not initiated the proceedings of the signed agreement between Vedanta Resources and KCM into the local courts. We still have the provisional liquidator at KCM and there are no signs that this liquidator might be withdrawn soon,” said Mr Jere.
“We still urge the government to expedite the handing over of KCM to Vedanta. It’s now taking close to three months and we only have two weeks before the three months period elapses.”
He said the government should inspire hope in the miners and other key stakeholders by addressing this matter once and for all.
“This is not a good sign in the sense that we already gave hope to miners, contractors and suppliers for KCM who are owed huge sum of money because Vedanta has promised to pay off this debt. The investor has also promised a 20 percent salary increment as well as K2500 one off payment to all workers,” he concluded.