By NATION REPORTER
GOVERNMENT’s stance on reversing the deal between Glencore and ZCCM-IH is a step in the right direction because the country has not been benefitting anything from it, Patriotic Front aspiring presidential candidate Chishimba Kambwili has said.
Mr Kambwili said he wholeheartedly supported Minister of Mines and Minerals Development Paul Kabuswe who recently indicated that the US$1.5 billion deal did not represent the interest of Zambians and there was need to review it and ensure a fair share.
Mr Kabuswe said Government would revisit its 100 percent acquisition of Mopani Copper Mines from Glencore through ZCCM-IH, claiming the deal could have been corruptly done under the previous regime.
Mr Kambwili said the minister was on course because Glencore was reaping huge profits from Mopani and put the firm in an awkward position in terms of growth.
“This move was long overdue because personally I do not understand how the previous government was coerced into signing such a deal which disadvantaged Mopani,” he said.
Mr Kambwili called on the Minister of Mines to expedite the process because the copper price was doing well on the world market.
He said the fact that Glencore had the off taking rights made it very difficult for Mopani to reap any tangible benefits from copper.
Mr Kambwili said at the moment, it was more like Mopani was working for Glencore and did not have capacity to carry out any capital investment.
He said if at all the government decided to bring back Glencore then there was need to come up with an understanding that would enable Zambia benefit.
Mr Kambwili said all in all, Glencore was not a bad contractor but what was just needed was to renegotiate the terms of conditions for the government to reap what it deserved.
“I just want to urge my brother Paul Kabuswe to continue on this trajectory and ensure that they review this deal for the sake of Zambians,” he said.
