Video of Anil Agarwal mocking Zambia over the privatization of KCM shocks ActionAid Zambia
ActionAid Zambia is dismayed by a leaked video showing Vedanta Chairman Anil Agarwal mocking Zambia over the privatization of Konkola Copper Mines.
A You tube video has surfaced showing Mr Agarwal speaking at an event in India in March 2014 where he ridiculed the Zambian government for selling KCM at a cheap price of 25 million US dollars.
In the video, the Vedanta founder goes on to reveal that KCM is giving him 500 million US dollars per year plus and extra 1 billion US dollars.
Action Aid Zambia Head of Economic Justice Programme Patrick Nshindano said the video is disheartening and shocking.
“It is disheartening that the KCM boss could talk about buying a national asset for a song with such impunity, Mr Nshindano said.
He added, “For us at ActionAid, this video confirms what we have always said about the privatization of some of these assets. This goes to mean that there was something fishy about the whole process.”
Mr Nshindano said corrective measures must be put in place to remedy the situation.
“This should compel Government to relook at these privatization deals and see whether the country is benefitting from its mineral wealth,” he said.
He also revealed that the civil society is strategizing on how to add pressure on Vedanta and the Zambian Government to review the existing mining agreement.