RETURNING VEDANTA AT KCM NATIONAL DISGRACE – SILAVWE
….it is not right and it is immoral
Lusaka… Tuesday March 19, 2024 (Smart Eagles)
Golden Party Zambia (GPZ) President Jackson Silavwe has maintained that returning Vedanta Resources at Konkola Copper Mines is a national disaster.
Mr Silavwe said the move by the UPND Government to return Vedanta at KCM is wrong and immoral.
Mr Silavwe recalled that Vedanta Chairman Anil Agarwal mocked Zambians that he was making huge sums of money out of KCM to a tune of K500 million plus and yet the company never paid taxes.
“Firstly we would like to call on the government to be clear and tell the Zambian people what exactly is happening at KCM. Secondly, the Zambian government should know that they are dealing with a company that is cash trapped,” he said.
“We know just a few days after government committed to giving them back the asset, they went to obtain a loan using KCM as collateral, that speaks volumes. And that money not all of it is coming to KCM because they are using that money to fund their operations around the world.”
The GPZ leader advised the government to find another investor that can run the mining company diligently.
He said the economy of the Copperbelt is suffering because the mining companies are not working profitably at the moment.
Silavwe stop demonstrating your ignorance. Who owned KCM? If we were sued over the illegal reposession on an entity that is owned by someone else. What would it cost the nation? How much has the purchase of Mopani cost the government?
Understand how things work before you sgow us how shallow you are. A political party with no members you want to speak with what authority?
I fail to understand the logic of some of these opposition leaders because they fail to comprehend even simple things. Grabbing something from someone illegally doesn’t make it ours. Yes Vadenta became rogue in the few years past but they still legally owned KCM. And instead of the government using proper means to get back the mines, they politicized the matter just to gain political mileage and steal money from the mine. Can someone tell how much the country has benefitted from KCM since it was grabbed from Vadenta 5 years ago? So surely should we continue to allow the assset to go to waste just because of unjustified pride of keeping it in Zambian hands even if it doesn’t benefit us in any way and end up paying huge compensation to Vedanta once the matter is concluded by the courts because it is certain they would win the case in court.