Government is expected next week to unveil the findings of the investigations that was conducted by the technical team to investigate the business operations of Konkola Copper Mines (KCM).
Government last year instituted a technical team of experts to investigate the business operations of KCM following the operation challenges the giant copper mining firm was facing.
Mines Minister, Christopher Yaluma, says he is glad that the owners of Vedanta Resources and KCM flew in the country on Thursday evening and will be looking at the report with them.
Mr. Yaluma who refused to disclose the contents of the report says he will make it available to the public after having a meeting with the owners of KCM.
Mr. Yaluma says he can not disclose the contents of the report because he wants to share it first with the management of Vedanta Resources and that after having a final meeting; both KCM and Government will be making a statement about the findings of the investigations.
He says government respects Vedanta Resources so much and values its massive investment in the mining sector.
This month in parliament, Vice President Guy Scott intimated that Konkola Copper Mines (KCM) was ‘scheming’ to hand over liabilities to government.
Dr. Scott disclosed that US$1.5 billion worthy of liabilities was at risk at the mining giant, KCM. Dr. Scott was however saddened that huge sums of money were allegedly being externalised by the mining company.
The Vice President said the KCM owed some banks a lot of money. Dr. Scott urged KCM management to put its house in order because the situation which was obtaining at the mine might affect the economic progress of the country.
Dr. Scott said there were a lot of strange things happening at the mine which government and parliamentarians should be careful with. He said relevant authorities were monitoring the developments at KCM.
Last year, government demanded for a detailed technical report from KCM to give proper reasons why it intended to lay off over 1,500 workers.
However, KCM retrenched over 70 workers despite government’s threats to revoke its operating license last year.
Labour Minister Fackson Shamenda however stressed government made an appeal to KCM management that it was ready to help the company to put things in order.
Hey Mr. miniSTAR!
Are you telling us that when you find your findings, you going to the KCM management to discuss with them what should be included in the report then announce to us that all is well? How much are they going to pay you to cover your findings and announce their findings? Shame on you if you come up with a fake report.
Christopher Yaluma is one of the extremely few USEFUL Ministers in the PF. Have every reason to believe he will give us the report as is.
Besides the people of that committe are our friends, we will know if the report will have been doctored or not. But I trust this Minister, just hope Chumbu won’t be part of the meeting since he doesn’t like huge reports.
I will be shocked if the findings are against KCM.
since the demise of zccm there has never been any meaningful development on the copperbelt as the infestors have been busy taking out everything and putting back nothing, while successive incompetent govts watch on the sidelines
The once vibrant copperbelt is now just a dry shell of its glorious past.
the avenues and streets that were once tarred are now lakes, no street lights. hospitals ans schools that were the pride of CB are worse than govt owned.
During zccm, water was not only available 24/7 was also free, but is now a rare commodity despite being paid for.
sounds like a paradox.
CB was the hub of any sporting activity, but is virtually dead
And as Zambians all we can do as usual is watch as we wait for a miracle to come from God knows where………..shame!!
Why are the selling it AT that price. He was voted to succed mungomba.
Now ester phiri is not the same boxer
It’s a shame. The constitution is for the people period.
@Saulosi can you at least write proper English like the way the real Saulosi used to do ? You also have to reduce on being too random, if only you can work on that.Your posts shows a lot of immaturity I wonder how old you are.
Evidently clear Jeanette is Saulosi who only posts to defend Saulosi, never anything else. Who ever saulosi is he is just a useless boy who has no credibility and votes himself up in his posts. You can fool people sometimes but you can never full people all the time.
Hate him or love him Saulosi brings another dimension to all the political discussions here.He is unpopular because of PF and that’s what makes him to stand out.You can insult or call him names but we need people like him to balance up discussions.
Do not raise hopes that government will do anything to KCM. Sata has shares in KCM and KCM bank rolls PF activities by paying mafia style protection money to Sata and his PF.
we are waiting for the findings sir.
What has happened at Kudos. Today you have not insulted HH and Tongas? This seems to be your favourite sport with your evil cabal of Membe, Gen, Luapula Premier and Matrix.
Sounds like baliliba n a lot r involved, dts why he’s suggstn to sit dwn wit em n c who cn b rmovd frm da report especialy ba Cycle Mata naba Die Chikoti….(•_•)
MAGANDE SOLD THAT MINE WHEN HE WAS MINISTER OF FINANCE UNDER MWANAWASA- HE LITERALLY GAVE IT TO THE INDIANS FOR NOTHING-HE IS ALWAYS QOUTED ON THIS SITE PONTIFICATING TO EVERYONE BUT HE HAS ALOT TO ANSWER FOR
Whatever the findings the government should find amicable mitigation measures not to send anyone into streets…there is no problem without tangible and progressive solution. The government is there to serve the interests of Zambians
There is a lot that needs be done. We have not done enough yet to control copper and proceeds from it. At basic its just our carelessness to put up control measures to jealously guard copper, the metal and funds from it. Taxation is weak, time in memorial,selling abroad instead of selling within our boarders with customers buying it from here and not from out there, our attitude on jealous protection of this elephant in the room, and you name it. Other countries end up benefitting from our resources more than us. Zimbabwe towns were built from our copper in the past but even today other peoples keep benefitting whilst our 13million people don’t benefit, if at all crumbs! Why, cry Zambia.
hope u won’t be bought mr minister…..?
Government has been colluding with the mining companies in defrauding this country. The report will most certainly clear the tax evading mines! Un-patriotic government!
Soon it will be 10 copies and then there will be “What report??”
Exactly my line of thought too!
The true owners are Zambians. As usual you will doctor the findings. Ukwa Chumbu Munshololwa Chimbwi-no-Plan will have made a fortune
The looting continues…
Have some sympathy for this old dictator in State House!
He needs a few million US Dollars to build his own private hospital that he is building at Plot 1!
Why should he go to UTH? Things don’t work there and he has fired all the nurses.
“Labour Minister Fackson Shamenda however stressed government made an appeal to KCM management that it was ready to help the company to put things in order.”
What help? Don’t be a f00l all the time Fackson for facksake!! You have no means of helping a company that is abusing our trust. You have no knowledge of mining or managing let alone our natural resources. You let a poor and highly indebted country lose over 500 highly skilled and trained nurses making the country even poorer. You are not a brothers keeper. No wonder Sata calls you the most useless bunch in government in history of Zambia ever!
You have abdicated your election manifesto and you are not to be trusted. Going 3 years in power and your leader is still pinching himself to see if it’s just a dream he is in state house. Wake up and smell the coffee! We do not want to turn our country into Egypt or Ukraine but even a toothless dog can bite you one day. Yes, we are cowards but a coward lives to fight another day. You are alienating your people by punishing the provinces that did not fall for your cheap lies and refused to vote for you. Those are the brave sons and daughters of our country who saw through you and your pack of lies. You wanted to turn a bread basket province like Southern Province into a basket case without shame! Zambia is for all Zambians and there is no such thing as small groupings of people in Zed.
Good morning
What is more important than the report and findings are the legal consequences that KCM faces and the regulatory measures that the government intends to adopt to stop the externalisation of profits.
Following changes have to take place:
1. We need leaders (president, ministers and executives) who think and act with full authority in the interest of Zambians. Investors must operate in compliance with our laws and not the other way around.
2. The government should take foreign investment under it’s wings and maintain a full overview of copper exports (through IDC and a Sovereign Wealth Fund).
3. Foreign investors should take more responsibility for the local work force in terms of healthcare, profit-sharing, pensions and other social pillars.
@ 9 Chale,
1. We neither have that president nor a cabinet to take care of number 1 (Zambians) at the moment.
2. The government gives mining licenses to perspective mining prospectors. Therefore, I think point 2 is already been done but incompetently. May be the government should outsource this side of the business to a local private company tied in with good lawyers and accountants who will run the mining side of the economy and produce regular reports to the public. We are all stockholders of this venture, float the company on the London Metal Exchange not LSE and give 10% discount rate for the stock to all Zambians that can afford to buy stock at the PLO.
3. Enforced by government. A percentage of the profits should be given to the councils or municipals of mine hosting…
MR MINISTER SIR,WE HOPE U ARE NOT GOING TO BE BRIBED BY THESE INDIANS,WE WONT BE SURPRISED TO HEAR OF A FAKE REPORT IN FAVOUR OF THE INDIANS,MOST PF MINISTERS ARE VERY CORRUPT AND USELESS SO PLEASE GIVE US A REPORT IN FAVOUR OF THE 13MILLION ZAMBIANS,WE IN THE COPPERBELT KNOW WHAT THESE INDIANS HAVE BEEN DOING AT KCM,THEY STRIPPED OF THE NKANA SMELTER TAKEING ALL THE EQUIPMENT TO NCHANGA AND INDIA JUST LIKE THEY DID IN LUANSHYA.
KCM aside! Whats with the Hijacking of the chieftainship in Bembaland? Word has it that Wako Jacko from plot one has done a Donchi?
@cindy
you sound annoyed,, am also waiting for monday confrimation of the same
@ Ndobo,
Yes am annoyed, I thought they were just rumours unfortunately it now seems to be a reality now am even more angry.
@cindy
Those are actions of your man of action! He has acted indeed. All this is possible because Bembas are so gullible. Just flaunt a few pieces of silver to them they can sell you their wives and husbands.(chimbuya joke). Sata knows them very well thats why he is able to manipulate them.
This is just but the beginning of more shocking things to come in Bembaland. If he can appoint the chitimukulu, there is a possibility that he will one day declare himself the emperor of Lubemba and one will raise a finger at him for fear of losing the privilege of receiving brown envelops.
SATA THE MAN OF DIVISIVE ACTION at it again! Enjoy his actions and continue to support him.
These useless PF 1Di0Ts have now woken up three years too late! THE MONEY IS GONE!
Mahtani taught these guys very well how to sell the copper to their company in Switzerland for 5 bucks and then resell it for 50 on the world market and keep 45 in their own accounts there.
Meanwhile our dictator is having sweet dreams about renaming airports and creating new districts!
lol – that’s my Sunday done lol
When as Tongas come into power we shall put zambia right and we shall make sure people start visiting witchdoctors again
Unveil the report then what?. We want action and what we will gain as Zambians positively. We can not feed on reports please. Not intereseted anyway. Give as what will benefit.
Government has found a buyer and it will be taken back from Vedanta. Guy Scott has been talking to his muzungu friends.
There you have it….they are treating us like kids again….we will have to rely on ZWD again for what’s in the actual report.
THESE Chaps…. it is evident KCM are thieves. How then do you sit down and help a thief… unless you are stealing with them.
@Joe Gali. The law on theft is very clear. You cannot steal from yourself. Vedanta owns KCM (80%) with GRZ (ZCCM-IH) controlling 20%. Are you saying Vedanta has taken all the dividends without giving GRZ its share?! Where KCM banks its money from copper proceeds is PRIVATE business just like where you keep your two bob or six pence. That is what private enterprise under our liberalised economic system entails. Anyone who says anything contrary is just spewing hot political airs!!
Again, mwenye has raped my country and is about to flee perhaps leaving us for dead. It is not the first or second time (Binani & AngloAmerica come to mind). Where were the so called expert when this mwenye was in the act of raping us? Forgive my ignorance but what is the role of ZCCM-IH and whose interest do they serve. If we can’t put measures in place that can benefit the country and stop this mess I don’t think there would be any harm in engaging international experts to advise the govt. God knows what others (like Mopani) are doing. Are we ever going to learn. With what we have my country should not be be so poor.
Cobalt; gold and other metals mined with copper are not declared.
Metal exports are paid in offshore banks and never reach here.
KCM senior accountants get huge off pay slip cash payments to keep them quiete. one of our own high level accountants in Brazil working with them!
Pliz also look into the issue of sun international hotel,very poor salaries,wekers depend on service charge but the same service charge is not properly done,also the issuing of wek permit,thank u yo action will b highly appriciated