By NATION REPORTER
SITUMBEKO Musokotwane, the Minister of Finance and National Planning along with his counterparts, Paul Kabuswe, the Minister of Mines and Minerals Development and Mulambo Haimbe, the Justice Minister have been urged to speedily expedite the transitioning of Vedanta Resources ownership of Konkola Copper Mines (KCM) so that the mine could be raved into life.
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The Advocates for National Development and Democracy (ANDD) is urging Government to expedite the transition process for Vedanta Resources to fully take over KCM and start implementing its investment commitments and strategic mining development plans for benefit of the country.
The organisation is also happy that Mr Kabuswe has clarified his statement that the KCM deal Government had entered into with Vedanta Resources was but a verbal agreement sparking anger among stakeholders.
ANDD executive director, Samuel Banda said it was important that the transition process was quickened so that Vedanta could quickly appoint the board of directors as well as management to run KCM.
Mr Banda said Vedanta Resources had set up investment commitments such as the injection of US$1 billion for recapitalisation and mining development apart from its commitment to clear debts that KCM owed to suppliers and contractors to the tune of about US$250 million.
He has urged Dr Musokotwane, Mr Kabuswe and Mr Haimbe to ensure that the transition process was expedited as Zambians were anxiously waiting to see KCM become viable and beneficial in terms of employment, business opportunities and improvement of communities where it operated from.
“In its current state, it cannot pay suppliers and contractors because of financial constraints and as a consortium of civil society organisations, for example, in the mining sector, this is one of the reasons why we have been advocating that Vedanta resources should come in and take full control of KCM,” he said.
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