PROVIDE TIMEFRAME
….in which KCM will be handed back to Vedanta, demands ZUPED
Lusaka… Friday February 23, 2024 (SMART EAGLES)
The Zambians for Unity, Peace and Development (ZUPED) has demanded that the government provides a timeframe in which Konkola Copper Mines plc (KCM) will be handed back to Vedanta Resources.
Minister of Finance & National Planning Dr. Situmneko Musokotwane has said there is only one step remaining before KCM is handed back to Vedanta Resources and production will resume.
Delivering a ministerial statement in parliament on Friday, Dr. Musokotwane said this should happen soon.
But ZUPED President Ronnie Jere said the people want to hear the progress made so far not the same rhetoric.
Mr Jere said there is an urgent need for the mining to be up and running in order to help resolve some of the economic woes in the country.
“We are all aware that only one item is remaining before KCM is handed back to Vedanta Resources, and that is the scheme of arrangement. This is why we are saying it is important that the government through the ministries of Finance and Mines gives another update informing the people when they are likely to hand over the asset to Vedanta. We needed it running optimally like yesterday. A lot of people are languishing in poverty and making KCM productive, will help improve the living standards of our people,” he said.
“A lot of young people on the Copperbelt need jobs. Contractors and suppliers need their monies that KCM is owing them. This can only be done when the investor has taken over fully. Otherwise, we will continue moving in cycles.”
Mr Jere noted that the country needs to strengthen its local currency against US dollar and that can only be done if production is increased more especially in the mining sector.
“We have been talking about the weaker kwacha against the US dollar, one way we can make it bullish is by way of increasing production in the mining sector. But how can this be done when KCM and Mopani have not scaled up production,” he questioned.
He also said as a measure to improve the living standards of the people, there must be increased economic activities in the country.
He has since urged the government to expedite this process and ensure that in this first quarter of 2024, KCM should be handed back to Vedanta Resources.
Hello…Read an article a few days ago that included a Press Release by Mr. Ndholvu the Corp Affairs Manager in which he outline the very question you have asked.
This article is similar to what the MP asked in Parliament what government’s position is on free education. Seriously? UPND has been harping on this since the policy was implimented as one of its achievements.