We are not ready on KCM and Mopani-Kabuswe

“We have not finalised on KCM and Mopani Copper Mines!” Paul Kabuswe, Minister of Mines and Minerals Development stunned the media with this announcement.

At his last press conference, Kabuswe announced that it was a matter of days before the deals were finalised and he firmly gave himself the deadline of 31st July 2023 as the day to announce the completion of the deals regarding Mopani and KCM copper mines.

Government intends to give back KCM back to Vedanta Resources despite public protestations and the terrible history of the investor while it ran KCM.

Vedanta failed to pay taxes, declared consistent losses degraded the mine assets and accumulated a $1.5billion debt in unpaid taxes, utility and including those unpaid bills of contractors and suppliers.

A South African mining firm is among companies tipped to take over Mopani Copper Mine.

Government has been promising since December 2021 that they were at the verge of a breakthrough with KCM and Mopani.