GOVT SHOULD HONOUR PROMISE TO HANDOVER KCM TO VEDANTA
ADVOCATES for National Development and Democracy ( ANDD) is hopeful that Government will, as announced, soon finalise the Konkola Copper Mine ( KCM) transition legal framework with Vedanta by June 30, 2024.
This follows an announcement made by Mines and Minerals Development Minister, Paul Kabuswe, that the matter will be finalized by end of this month, following the successful outcome of creditors meetings regarding the implementation of the KCM scheme of arrangement.
Reacting to the development, ANDD Executive Director, Samuel Banda, said his organisation wishes to see Government hand over KCM to the investor Vedanta Resources before the end of June as announced.
Mr Banda expressed optimism that doing so will ensure the investor begins to implement its Strategic mining investment commitments, resuscitate the mining asset, create employment and business opportunities.
He said the development will also lead to promotion of commerce and trade, which ANDD believe will consequently boost the country's economic growth and enhance the Gross Domestic Product ( GDP).
Mr Banda further called upon the minister to honour his words and ensure that the Government fulfils its assurance by handing over KCM to Vedanta resources.
"Last year the minister of mines had promised the people of Zambia that the Government was going to ensure KCM gets to optimum operation in the first quarter of 2024, alas we are now in the second quarter, and the transition process has not yet been finalised hence our emphasis that the minister of mines should demonstrate integrity and patriotism and fulfil his assurance," he said.
He has observed that stakeholders such as the suppliers, contractors, employees at KCM and the general populace are all expectant that the Government will finally officially hand over KCM to Vedanta resources.
He encouraged Government to consider the interest of these stakeholders and do due diligence on the matter.