(3 minutes read)
- Zambian President Hakainde Hichilema said that his government did not intend to give back Konkola Copper Mines (KCM) to Vedanta Resources, an Indian mining major, having business interests in several countries.
Zambian President Hakainde Hichilema said that his government did not intend to give back Konkola Copper Mines (KCM) to Vedanta Resources, an Indian mining major, having business interests in several countries.
President Hichilema recently said that his government was looking for a solution for KCM. The government is keen to make the mine fully functional to achieve the target of reaching the three million tonnes copper production set for the year. He said the government also wanted Mopani Copper Mines (MCM) to return to full production in order to increase production and to create employment opportunities.
Also Read:
https://trendsnafrica.com/zambia-to-export-more-avocados-to-europe/
He, however, scotched the media reports that the government was wanting to give back the KCM mine to Vedanta. At the same time, he clarified that the government wanted to unlock the assets of the KCM, which were precious to the nation.
Nothing should stand in the way of bringing the mine to fully operational level so that the people of the Copperbelt and the people of Zambia could benefit., the president stressed adding that the mining asset should not remain idle. The government was determined to unlock the assets for the interests of the nation and people, he said. However, he did not give any specific details how he was going to do the reopening of the mine, mired in controversies and court cases.
Reopening of Mopani mines, the President said, was far easier than that of KCM, which is immersed in complicated litigations. He added that the appointment of the liquidator for KCM did not help in resolving the issue. The current president, who himself is an industrialist, is known for his views on promoting the private sector.
