PRESSURE MOUNTS ON GOVT TO HAND OVER KCM TO VEDANTA
By Correspondent
PRESSURE is mounting on the UPND government to handover the Konkola Copper Mines (KCM) to Vedanta Resources.
Today, government is expected to announce the hand over and a consortium of Civil Society Organizations pushing for the comeback of Vedanta are optimistic that the announcement will be done today.
The Advocates for National Development and Democracy (ANDD) and Zambia for Unity Peace and Development (ZUPED) have said the Minister of Mines and Minerals Development Paul Kabuswe on 14th July, 2023, revealed that the new investors of Mopani Copper Mine and KCM will be announced by 31st July, 2023.
ANDD Executive Director Samuel Banda believes that President Hakainde Hichilema and Kabuswe are aware of the economic challenges the country is grappling with as a result of the non functionality of the two mining giants.
“We believe that His Excellency President Hakainde Hichilema and Mines and Minerals Development Minister Hon Paul Kabuswe are aware of the economic challenges of this country more especially on the Copperbelt. The economy of Copperbelt is down, the business for suppliers and contractors is down because the tw strategic mines have not been operating. Hence we believe that the President (Mr. Hichilema) and Mines Minister are committed to ensure that they revamp the mining sector,” said Banda.
“And we want to commend government for the mining reforms that they are implementing for example the introduction of the mineral regulation commission which will ensure that the investors adhere to our mining policies.”
And ZUPED President Ronnie Jere said the contractors and suppliers from the Copperbelt should start preparing for business because the government is today expected to make the major pronouncements.
“It is clear that KCM and Mopani mines are giant strategic investments we have in the country and we should keep them running. These two assets are the major employers that are on the Copperbelt, once KCM and Mopani mines begin to operate, people of the Copperbelt must expect the economy to start booming, trade will improve and liquidity will improve,” said Jere.
“We want to urge the people of the Copperbelt to welcome back Vedanta Resources. We also want to encourage those who will be employed once the mine start running optimally, to work hard and help boost the country’s economy.
He said foreign investors can not develop the country hence the need for locals to work extra hard and help improve the country.
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