By NATION REPORTER
GOVERNMENT through ZCCM-IH has finally signed the implementation agreement with the Vedanta Resources for the Konkola Copper Mines (KCM).
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Speaking during the signing ceremony yesterday, Minister of Mines and Mineral Development, Paul Kabuswe, said following the signing of the agreement the next step will be finalisation of withdraw of legal issues which includes the KCM liquidation and removal of provisional liquidator, appointment of new KCM board, creditors agreement, creditors scheme and loan agreement.
He said the UPND government is committed to make sure that KCM comes back to life and the surrounding communities to begin to benefit from the corporate social responsibility, employees welfare uplifted and suppliers and contractors paid.
Mr Kabuswe said all the things that were announced in the earlier verbal agreement have remained the same in the signed document.
He also called on Vedanta to win back the trust of the people because the return of the company at KCM is like trying to mend a broken marriage.
“Vedanta is getting back to a wife that was heartbroken and you must work very hard to impress her and mend her broken heart,” Mr Kabuswe said.
He said the agreement has clauses that will enable government reposes the asset with any legal consequences in case Vedanta fails to deliver.
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