Advocacy group, ANDD, cautions against distracting Vedanta Resources from re-engineering Konkola mines


Zambians and political stakeholders have been encouraged to desist from politicising the Konkola Copper Mines (KCM) being returned to Vedanta Resources after its hostile exit a few years back.

Advocates for National Development and Democracy (ANDD) Executive Director, Samuel Banda, stressed that Vedanta Resources as legal owners of KCM should be left to manage the mine professionally as they were doing in other operations throughout the world.

Banda, in an interview with Journalists on Saturday, was of the view that KCM should be allowed to operate professionally if it had to be optimally operated and increase its production capacity.

Government officially handed over KCM to Vedanta Resources as the legal owners in September 2023 with about 80 percent majority shareholding.

Read more: Group protests alleged return of Glencore to Mopani copper mine through proxy

“The handing over transition process will take three months, thereafter Vedanta Resources will take full control of KCM and start implementing their investment commitments, such as the injection of over US$1 billion for recapitalisation and mining development, clearing of debts that KCM is owing to suppliers and contractors.

“The investor will as well focus on the creation of employment and provide business opportunities for the people of Copperbelt,” Banda said.

WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.

Hichilema describes late Archbishop Ndhlovu as selfless leader who served humanity beyond Zambia

Previous article

Africa needs research-backed policies to deal with digital space, create solutions —Mutati

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Economy