IT IS CLEAR THAT VEDANTA IS A WRONG INVESTOR TO OPERATE KCM
….. Human Rights Activist saddened by continued accidents at KCM
Kitwe… Tuesday October 22, 2024
A Human Rights Activist Evans Chota has charged that it is clear that Vedanta Resources is a wrong investor to operate Konkola Copper Mine.
Mr Chota says Zambians should not be surprised with the recent recording of deaths at KCM due to mining accidents because Vedanta has a history of poor mining practices which includes environmental degradation, lack of investment in safety measures among KCM employees.
He said the two recently mining accidents reported in the media that where recorded at KCM underscored the need for stakeholders like the mining unions, Ministry of Labor and other stakeholders to strictly monitor Vedanta operations at KCM.
“Zambians should remember that before Vedanta took over the operations of Konkola Copper Mine, we didn’t hear such accidents happening at KCM resulting into deaths of some employees. The Government through the ministry of Mines and Minerals Development and the Ministry of Labor should assess if Vedanta Resources has invested into safety mechanism at KCM to ensure the safety of the employees otherwise these accidents being recorded at KCM are now worrying especially that KCM is now under the management of the investor who has a bad historical record of poor mining practices. An investor who lost social contract with the people of Copperbelt,” he said.
“Another critical issue is that Vedanta Resources may be a hindrance to Government’s intention to achieve the 3 million metric tonnes copper production by 2031 if it has not yet injected the required capital into KCM. Remember that Vedanta Resources committed to inject US$1 billion into KCM for mining development and operations, however reports reaching us is that Vedanta Resources has not started injecting this proposed capital. It is clear that Vedanta Resources is financially incapacitated to run KCM. Just like Honourable Chilundika Nchanga Member of Parliament and other many Zambians observed and warned about Vedanta not being a good Investor, it’s absolutely clear that we have a bad investor as our partner at KCM.”
Mr Chota was of the strong view that Members of Parliament should engage the Minister of Mines and Minerals Development Hon. Paul Kabuswe to update the nation on current recapitalization status of KCM by the financial troubled investor Vedanta.
“While we fully recognize and hold in high esteem the vision and commitment by our Republican President Hakainde Hichilema to increase productivity in the mining sector towards achieving the 3 million metric tonnes copper production target, it is prudent that Government engages with well financially sound investors as equity partners to run mining assets like KCM,” he concluded.