VEDANTA WAS A ROGUE INVESTOR
….for 20 years, they didn’t pay for taxes, says Mwamba
Lusaka… Monday March 25, 2024 (Smart Eagles)
Patriotic Front (PF) Chairperson for Information and Publicity Emmanuel Mwamba has charged that Vedanta Resources was a rogue investor as they failed to pay taxes for 20 years.
The former Diplomat says there is no doubt that Vedanta while managing Konkola Copper Mines Plc was engaged in poor mining practices.
Amb Mwamba said this when he featured on Pulse Nation Programme on Millennium TV in Lusaka.
He said the former ruling party warned that Vedanta Resources is broke and should not be trusted.
“We warned when they brought Vedanta Resources back that the investor is broke. Vedanta wants to use KCM to sort out its issues. Vedanta is currently is restructuring its debt and it cannot be trusted with KCM,” he said.
He wondered where the investor even got the US$25 million that it pumped into KCM recently which he said has just disappeared in thin air.
Meanwhile, Amb Mwamba said the sale of 51 percent shares in Mopani Copper Mines is illegal saying Parliament did not approve that transaction.
He said President Hakainde Hichilema has breached the constitution of Zambia to have sold those shares without following the laid down procedure.
Amb Mwamba also observed the need to heavily fund ZCCM – IH for it to have capacity to run the mining companies on behalf of Zambians.
Makes me wonder, who was in charge of our country and collection of taxes for 20 years?