MINES MINISTER HAS NOT BEEN HONEST….with the timeframes he gives concerning the reopening of KCM, charges ZUPED

Minister Of Mines Hon. Paul Kabuswe


….with the timeframes he gives concerning the reopening of KCM, charges ZUPED

Lusaka… Monday March 4, 2024 (SMART EAGLES)

Mines and Minerals Development Minister Paul Kabuswe has not been honest with the statements he gives concerning the reopening of the Konkola Copper Mines (KCM) plc, says the Zambians for Unity Peace and Development ZUPED.

ZUPED President Ronnie Jere says even in September last year, Hon Kabuswe informed the nation that by December 2023, Vedanda Resources would have taken over KCM so that it would start operating optimally.

Mr Jere said recently, Hon Kabuswe gave another timeframe that by March, KCM will be up and running and he hoped that this time around, the Minister will stick to his words.

“During last week’s Sunday Interview programme, the Minister stated that the scheme of arrangement should be finalized by the end of March. We want to take his words seriously and we know that over a period of time, the Minister has not been honest with his pronouncements. We all remember that it’s the same Minister of Mines that promised the people of Zambia that the negotiations between government and Vedanta will be done within three months and that was September last year. But unfortunately by December there was nothing that came up. We waited from January and now we are in March,” he told Smart Eagles in an interview.

“Now last week, the Minister reiterated another timeframe to say he is very sure that the scheme of arrangement will be finalized by March and that the handing over of KCM to Vedanta should be done by March. We would like to advise politicians to be very truthful and this will help in making sure that they have the people’s trust.”

He said the people will give Hon Kabuswe the benefit of doubt and hoped that this issues between Vedanta and KCM is finalized as soon as possible.

“We all know the repercussions that come with the non functionality of KCM. Today we are grappling with the issue of the US dollar and now Bank of Zambia is putting up stringent measures that are affecting the ordinary people. For example these policy monitory ratio that the Ministry of Finance is implementing are just but killing the economy of ordinary Zambians. There is no money in circulation,” he stated.

“Today we talking about the cost of living going up. JCTR just produced the report and what they are saying is that a family of five now need about K10, 000. How many people in Zambia are getting about K10, 000 and above?”

Mr Jere prayed that government should be able to conclude agreements with mining sector such as Mopani and KCM so that the country can have the necessary Forex that can be pumped into the economy.

He also advised the UPND administration that failure to open up the mining sector would cause them the 2026 general election.


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