(4 minutes read) (Global ties: Asia)
Zambian President Hakainde Hichilema said his Government wanted to conclude the Mopani Copper Mines and KCM issue in the quickest possible time. He added that the two assets were key in Zambia attaining three million metric tonnes of copper in ten years’ time. He indirectly hinted that the decision taken by the previous government regarding the KCM was wrong and the present dispensation is paying the price for that decision
Zambian President Hakainde Hichilema said his Government wanted to conclude the Mopani Copper Mines and KCM issue in the quickest possible time. He added that the two assets were key in Zambia attaining three million metric tonnes of copper in ten years’ time. He indirectly hinted that the decision taken by the previous government regarding the KCM was wrong and the present dispensation is paying the price for that decision. www.trendsnafrica.com has earlier reported about the likely handing over of the KCM project back to Vedanta Resources.
At a press conference held recently, President Hichilema defended the decision to engage Vedanta Resources in its negotiations. He said they were stakeholders who could not be overlooked in the negotiations on the issue as they have a shareholding in KCM, adding that an amicable solution would be reached soon. Presently, the case relating to the closure of two mines owned by Vedanta resources is sub judice in different courts.
Chingola Central Member of Parliament Chipoka Mulenga, who is also the Trade and Industry Minister of Zambia has echoed the same view while talking to reporters recently. He said that he did not mind having Vedanta Resources back to run KCM as long as the Indian investor followed the law of the land.
Giving kudos to KCM, the minister said that they operated the company efficiently and were good employers. The situation at KCM worsened during the reign of President Lungu because the investor knew that it could get away with a number of things. The minister said the new dawn government was focused on transforming the mining sector and increasing the benefits to the country.
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Mr Mulenga also defended the role of the US government in the establishment of the Mineral Value Chain for Electric Batteries with the DRC government. He said the US government is bringing technology and financing for the establishment of the electric battery manufacturing plant but those other players would be free to participate.
