Vedanta Chairman Anil Agarwal
Vedanta Chairman Anil Agarwal

Vedanta Resources has issued a media statement in response to the video that was posted on Youtube where the group chairman was telling business people in India that KCM was giving his group $500 million per year after just buying  the mine  for $25 million . In a statement released to the media, Group Communications Executive vice president Roma Balwani accused “one activist ”  for  taking a small part of the video of his  speech and used it negatively out of context.

Below is the full statement

Our Chairman, Mr. Anil Agarwal, recently addressed businesspeople in India when he spoke engagingly about the human side of running a multinational mining business. In an anecdote, he referred to Vedanta’s 2004 acquisition of KCM, our Zambian subsidiary. Unfortunately, one activist has taken a small part of the video of this speech and used it negatively out of context.

In his speech, Mr. Agarwal decided not to mention that since the acquisition, nearly all the returns from KCM have been reinvested back into KCM, as it simply wasn’t relevant to his anecdote. In fact, over nine years of ownership by Vedanta Resources, KCM has made $2.9 billion of capital investment and made just $73 million in dividend payments – a fifth of which is to the Zambian government.

Anil Agarwal, Chairman, said: “In the nine years of ownership by Vedanta Resources, KCM has made nearly $3 billion of capital investment and taken very little out. With our investment, we have invested heavily, extending the mine life, creating jobs and investing in the community. We are now Zambia’s largest employer and second biggest taxpayer.

“We are very thankful to the local communities, and very thankful to the government who have worked with us, and we remain fully committed to KCM and to helping the Zambian people and the Zambian nation develop and grow its natural resources.”

With that investment, the company has dramatically increased the mine life, dramatically increased employment, doubled real salaries there, provided technical and management training for thousands of Zambians, reduced the number of expatriates and continues to be Zambia’s second-biggest mining taxpayer. Furthermore, KCM has invested $120 million in local communities, providing schools, educational programmes, sustainable agricultural initiatives, critical medical programmes and funding for cultural events.

Tom Albanese, CEO, said: “KCM has a long mine life, and we are committed to see it through the near term challenges it currently has. We have made the investments, and now we’re making a commitment in terms of all aspects of the management, the stakeholder relations, the government dialogue, to make this the world-leading Company that it deserves to be. Our reinvestment in the business is not for the next three to six months, it’s being reinvested into the business for the next 50 years.”

Mr. Agarwal and Vedanta Resources continue to believe that KCM has a great future despite short-term operational challenges. He and the company remain fully committed to KCM and to helping the Zambian people and the Zambian nation develop and grow its natural resources.

Roma Balwani Executive Vice President – Group Communications and CSR

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117 COMMENTS

  1. Hogwash! you want to trick us again? Nothing was taken out of context. you are typical Maharaji’s from west Delhi.Popularly known in Indian for their stingy and shrewd ways. My Indian friend laughed at the video and said it’s more insulting than the subtitles put it.

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    • Man of Action, get our mines from the infestors. Are you not the man of action we have always known you to be referred by those who follow you? What has changed? Get our mine from the infestor from India.

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    • WE HAVE BEEN TRICKED OVER A LONG PERIOD OF TIME THAT WON’T SIMPLY HOLD WATER MR. EVEN IF YOU RE-INVEST IN KCM, IT’S YOUR COMPANY AND YOU WANT IT TO MAKE MORE PROFIT. FACT IS WE ARE NOT BENEFITING AS ZAMBIANS. SO ONE CAN ONLY MOTIVATE WITHOUT GIVING THE CHALLENGES?

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    • Action Man, don’t hold your breath. As long as this Agraw chap whatever did not say something like ‘…I also recognise Sosala as Chitimukulu’ Sata will not do anything at all.

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    • @ Auction Man! In as much as i appreciate your idea, i guess It will be a grave mistake to let him post the whole video coz it will be tempered with. Alot of editing is likely to be done to convince the masses. Just like in movies, alot of after effects can be applied to make you believe he said other ‘sweet things’ too. (Meaning, every activity in that audience can be manipulated). Same audience and background but with added speeches! What with Bollywood withing their reach, this guy has plenty of cash to engage seasoned graphic designers to work around that clip to wood wick and convince you even more. LETS NOT ALLOW HIM POST ANYTHING MORE!! Yes, we are Zambians but not as low as this Anil man thinks we’re!!!

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    • So who is this response meant for??? Guess what, we are not cheap corrupt politicians…..

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    • YES this spokesperson from vedanta is a lier and thinks in his small clogged mind he can fool zambians around just like that, LET ME TELL U , YOU STINKING MORON FROM INDIA, YOU ARE THE MOST WICKED, AND THE MOST BACKWARD OF ALL IN THE HUMAN RACE, STEALING FROM US WILL NOT MAKE YOU RICH OR HAPPY AT ALL, YOU CANNOT EVEN BE ASHAMED, WE ARE ACCOMODATING YOU AND ALLOWING TO STEAL BECAUSE WE ARE CIVILIZED, YOU CANT DO THAT IN INDIA, INFACT I CANT EVEN LIVE IN INDIA, ITS JUST A STINKING, FILFTHY COUNTRY. YOUR INVESTIMENTS IN ZAMBIA IS NOT PERMANENT AND LIKE ALL OTHER THIEVES AND CROOKS WHO WERE THERE BEFORE YOU, YOU WILL LEAVE AND WE WILL REMAIN. ENJOY OUR MONEY FOR THIS ONCE.

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    • No amount of damage control by Vedanta will do for any well meaning citizen of Zambia. Infact your attempt at damage control shows your insincerity.

      The video was demeaning, degrading and insulting to our country

      All we are interested in as a country is our fair share from the $1.5 Billion profits per year paid retroactively since acquisition.

      Now i appreciate why govt introduced SI 33 and 55, an attempt to monitor what was happening with our resources
      but even here we were dribbled by the bloody cartels lead by IMF and world bank

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    • In short you’re saying it’s decent to undress someone in public as long as you leave there foot with a sock they should thank you? Give it back now for you will never appreciate a free package!Like someone sad, “no amount of damage control will change anything”

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  2. Damage control! You are not sincere.

    Why can’t we just grab back this mine?

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  3. lalalalalalalalalala. You are just a bunch of thieves. Self righteous thieves. You and the people you corrupted to rip off millions of zambians. One day time will catch up with you….

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  4. This is a blue your chairman insulted the people of this land in his hindi language and if the government does not react then what might we expect from these other mining investors ought to do from this example and why only KCM chairman is always in this and that say does it mean our Government of our beloved President MC Sata has no say in the looting of this huge profit this dirty man is claiming to have been ripping and where is our vigorous ZRA doing about?????

    Something fishy is going on here I can see it

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    • Mwape, some people might not like the truth but you are spot on. Remember Amin’s dream in Uganda? Well he kicked hem out of Uganda to the UK. Guess what ? The biggest terrorist threat facing the UK is from this lot. These people (mwenyes) mean no good. Zambia and Zambians better learn from history and comparative politics.

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  5. Damage control. Too late. Serious harm has already been done as feelings have been hurt. Best to keep quiet than to add salt to the injury!!

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  6. ‘Maharaji’s from west Delhi.Popularly known in Indian for their stingy and shrewd ways”……Walasa,these coolies are suckers if you ask me.Even in India they are not respected because of kaso,now imagine an Indian complaining about a fellow Indian about kaso! Sivintu

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  7. Whoever wrote this statement is a very stupid foolish person who thinks we are going to buy into this? The damage has already been done we know the truth all we need is government to take action or we take matters into our own hands to sort out you Indian *****s who are no good for nothing.

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  8. Only in Zambia can this Indian dog have the audacity to issue such a feeble whimper of an excuse for the rabid ramblings of his pompous master and get away with it. Are we and this feeble excuse of a government so gullible that we will take these insults lying down? In a normal society our ‘president’ would have summoned this !diot to give them a proper tongue lashing but alas we have a president who reserves the worst of his vituperation for helpless opposition figures. Where is the so called ‘man of action’ who before ascending to power was the constant pain in Chinese and Indian investors backsides? Cry this beloved country. How did we end up with this hopeless government?

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  9. Ba figili you now come up with some cheap PR exercise to explain a blatant mockery how you tricked corrupt, immoral, ignorant MMD leadership that gave you this mine for free really. Rather than defend, an apology followed by an exit from the market will do. Stop blaming the activists I can do better damage control than this hogwash you spinning

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  10. His excellence the President of the Republic of Zambia Mr. Michael Chilufya Sata King Cobra, post your reaction on your facebook page to this anil agarwal insulting video. You are refusing to recognise Sosala as Chitimukulu while agarwal is ripping millions of dollars from this country while you go round borrowing. We want to hear what government’s position on is video is. Since you cant hold a press conference, tell your press aid Chella what your reaction is after watching the video where this fool of an indian insulted us. Anil could not even appreciate our friendliness as can evidently be read from the video. Ba Kateka, Landeni tumfwe!

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    • I acknowledge receipt of your useless request for my reaction.I am not able to react right now as am busy fighting Sosala and his nephew my useless MP GBM.

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  11. But St Jude, I don’t see any racism in my analysis of this KCM situation. Indians (of course not all of them) have been known over many years to dominate when it comes to money or acquiring it in whatever way and form.

    Just look at East Africa fr instance, these guys are everywhere making money unlike we the indigenous Africans. Little wonder that out of close to 1 billion Indians, they have failed to raise only 11 men to form a football team like every other nation on earth. All they know is “talking shop”…

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    • Not that am supporting what has happened with KCM, but is it the Indian’s fault that you do not have the brains they have to make money? I really think you should have kept quiet dude.

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  12. The damage is already done Mr fake investor, I’m also in Mumbai, and my indian friends have interpreted how demeaning your speak about zambia was. You better start parking your suite case now . It’s clear on the ground here that you can’t make an investor. You opportunists , come back and continue with your bonded labour don’t take slavery to zambia

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  13. I see chief govt spokesperson issuing a statement thanking the Investor for setting the record straight, and issue a warning to the media not to sour govt relations with investors!!

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  14. MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENYE MWENY

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  15. Where are the PF cadres to go and physically man handle all the Indians at KCM. Cadres like myself, Max Chongo and others, please there is a job in Chingola and Chililabombwe. Even if we are poor as a country we can not let these guys get away with it. They are in human, tabakwata uluse, they are *****s.

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    • The pf cadres a spies to their own blacks just like their master used to do before independence ,had the information came from any opposition leader pf govt would have strongly and quick to respond,that’s how stupid our so called leaders behave.shame on us Zambians,this is called Afraid of your own shadows.thats how the pf leadership behaves.

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    • Ba Global naimwe no need to go political. This issue is above partisan inclination for it affects us all.

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  16. Us investor s own mansion, cars, companies, swiss bank accounts in different countries because we run the majority shares in all the mines in zambia while we give black people minum wage and get those zambians killed who steal from us. Believe it or not but we run this dum zambians

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  17. Is this so called Cobra or Man of Action alive and able to reply to this crap? Where is all that s*** he used to spew about ‘infestors’ in the light of this smoking gun about the felonious activities of these Indian dogs? With all the power you now wield, what are you going to do about these blatant admissions of treachery and illegalities of Vedanta? Or are your fangs and venom only reserved for the poor opposition who you now routinely unleash your panga welding thugs on? Are you alive Mister or are you as mystified as your predecessor African chiefs who sat befuddled and mesmerized when white colonialists demonstrated the power of a gun to them? Come on sir, say something on behalf of your people over this clearly unacceptable nonsense!

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  18. …Nsamya, Nsamya, Nsamya Yes! Lets get rid of these infestors before they deplete all our Copper. To my fellow Zambians I strongly advise that we grab KCM and mine the stuff ourselves after all, we now know who our friends are and who the enemies is.

    I am a mechanical engineer myself and ready to come back home to dig and dig deeper for more Copper and other minerals for sale to the outside world. Come on UPND/MMD/PF etc., lets leave Politics aside for once and do the right thing. These Indians/Chinese/Koreans etc have somewhere else to run to when Copper finishes and yet, we have nowhere to go. Zambia is ours and ours forever…

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  19. I think zambian deserve such as in the first place it was you the black munthu who destroyed mismanaged all those mines.
    After looting you sold it cheap to those mwenyas and this mwenya put business in order stops all mismanagement and makes profit then the sleeply munthu cries…..
    our money is taken……….
    very foolish of those munthus……………………………

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  20. To Sata, Kabimba and your panga welding hoodlums who daily terrorise us innocent Zambians, here is a job ready made for you, get out there and sort out these b*****ds. Or are you just bullies and cowards who can only take on weak and unarmed citizens?

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  21. Those Indians can not be committed to KCM, They are committed to ensure that they plunder our mine resources, shame AGANIWAL whatever your name is we mbushi we walitipwa.

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  22. It takes two to tango. While all manners of insults have been heaped on Arnil Argawal we are forgetting that KCM was LEGALLY sold to him by the relevant Zambian authority. Corruption in Indians is in their genetic make-up and unfortunately there has been a mutation in the Zambian DNA resulting in a corrupt DNA after Independence. I spent two years in India doing my Masters in the late 70’s. While the cleaner could sweep my room I had to pay him backshish, the Indian word for corruption. Indians are so stingy that I doubt if a lot of money was paid as bribery, if any, to the Zambians responsible for the sale. The sale was legal and I cannot see how a court of law can change this unless it is proved otherwise.

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  23. Ba nevers mumba, its time for you to suck on the foreign investors dic , isnt vendetta funding the mmd election campaign for 2016

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  24. If I were KCM would just start packing. The Cat’s out of the bag as far as I’m concerned.

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  25. Those Indians can not be committed to KCM, They are committed to ensure that they plunder our mine resources, shame AGARWAL whatever your name is we mbushi we walitipwa.

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  26. If I were KCM I would just start packing. The Cat’s out of the bag as far as I’m concerned.

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  27. …anyway, they just had to say something whether it makes sense or not. The beauty about getting info thru a picture or in this case via a video, no one can influence your opinion.
    Let Balwani comment on ‘CHANCES’ Agarwal took, instead of $400m paid ONLY $25m, boosting of now reaping $500m annually sending the audience laughing not at what he was saying but laughing at the PEOPLE(Zambians) Agarwal had taken for a ride. The red carpet he was given at the airport, the lie on the other delegation members, the VIP reception at state house literally mocking and laughing at us.
    No amount of corporate image building will sway our already made up mind on how crooked, fraudulent KCM was acquired. Nothing wrong legally, but everything morally wrong…

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  28. Without the response, it is bad enough. The response is making my blood boil even more. Who do these gringos take us for? I want to go and make some noise at their high commission….the Julia Chikamoneka, who is coming with me?

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  29. This story should not supprise any one.
    In the first place it was you Zambians who looted and mismanaged the mines.
    Then you made deals with the buyer who bought this mines for a song,
    in all the you Zambians(few)benifited.
    Then comes those mwanys who put in fellow mwenyas bring in fincial discipline run this mines professionally make billions and then the poor black Zambians cry.
    Keep crying whine the chines now milk the zambian economy.
    This it the price you pay for looting,being dull and lazy

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  30. Please let us all stand up and be counted. Let us not wait for these politicians and the other criminals to help us out of this.

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  31. So there is an Indian version of Micheal Sata. One never to be taken seriously by what they say? They say something stup!d and then turn around saying it was a joke!!!

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  32. The only way we can reap from our resources is by having our own local investors, as long as we get some one from outside we should also expect the money to go outside.

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  33. “In his speech, Mr. Agarwal decided not to mention that since the acquisition, nearly all the returns from KCM have been reinvested back into KCM”

    This is fooling us only an ***** can believe this sheet. I personally I cannot be cooled but knowing our calibre of politicians and corruption tags we will see a politician accepting this.
    Not anymore Zambians we need to work up

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  34. @ Auction Man! In as much as i appreciate your idea, i guess It will be a grave mistake to let him post the whole video coz it will be tempered with. Alot of editing is likely to be done to convince the masses. Just like in movies, alot of after effects can be applied to make you believe he said other ‘sweet things’ too. (Meaning, every activity in that audience can be manipulated). Same audience and background but with added speeches! What with Bollywood withing their reach, this guy has plenty of cash to engage seasoned graphic designers to work around that clip to wood wink and convince you even more. LETS NOT ALLOW HIM POST ANYTHING MORE!! Yes, we are Zambians but not as low as this Anil man thinks we’re!!!

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  35. Just wait Sata is still studying the law. Who thought LapGreen would be sorted out that easily. Sata understand the law more than lawyers. Very soon will see the direction of KCM.

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  36. SHUT UP FOOL….!
    FIRST: ZRA, You are very aggressive at poor Zambian Companies at your credibility checks where you over tax and end up closing them! Here is the tax money you didn’t see. 9 years tax at $500 each year. Less the little fake tax they paid.

    SECOND: Enough nonsense from foreigners in this country! They have taken over our villages, cities, compounds Industries, and now they laugh at us FOOLS! How many Zambians can go to other countries and do that? Where are our so called leaders?
    THIRDLY: Such nonsense not during UNIP days…! ITS CRY THE BELOVED COUNTRY.

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  37. “In his speech, Mr. Agarwal decided not to mention that since the acquisition, nearly all the returns from KCM have been reinvested back into KCM”

    Zoona ekupwalala uku. This not true and only a foolish Zambian can believe this. I hope no minister or politician will come out and say its true. We hurt and hurt and hurt and our wounds are boiling

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  38. Now I can totally understand why Amin, late and former President of Uganda ,never trusted this lot. Say what you want but a mwenye never means well for Africa and Africans just like the former colonialists.

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  39. Balwani try something else not this feeble PR exercise you have hurriedly drafted. Do you think we are stupid and cant understand what your boss explicitly said? Even a second grader understood the mockery. Just own up apologise and pay all the tax you evaded paying in arrears. After that pack up and leave us alone!

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  40. What media statement? No sugar coating allowed here. You cannot fool us forever. For once take responsibility and accept that you, like slave masters, gave Zambia a rotten cake. Tables will surely turn at some point.
    Our leaders are always to be blame for this mess. Poverty mentality has led our country to this plain shame. Our leaders must take ownership and explain how this came into being…Am truly Pissed off!!! This is like taking us back to slavery days. What a joke…Desspite all the degrees they have, the leaders failed to negotiate patriotically for the benefit of Zambians…

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  41. The only sober way out of this matter is for the Govt to engage KCM into discussion following this video. On the other hand, DEC, ACC, and the Police may also open a docket on sale of KCM to determine whether any corrupt practices were committed in this transaction. If any corrupt practices were committed, the sale may be annulled or KCM may be made to pay more.

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  42. NO NO NO NO NO NO!!!! Sata started this isue of KCM and its like evry 1 was against him.do u remember.juarnalist and oposition partys brought in even some useless english. saying now since mr. investor has been chased by the prsednt how are the investors going 2 potray zambia.foolish u zambians u forget easily.It will take time 2 clean up MMD messes.

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  43. Where are our Political, Economic, and Legal brains of Zambia? Something must surely be done about this issue. The guy has sold off himself. Get him to account for his words and deeds. He is dirty ans so careless. Sort him out, please.

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  44. People, are there no ordinary Zambians with “fire” to start “kissing” some of these useless infestors with their lot? I mean like Julius Malama sings Kiss the Boer (Mwenye) pow pow pow. End of mourning.

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  45. Still does not seem to make sense to me that he should boast about this — and if any Zambian laws have been ingnored (paying the right taxes, etc) then let it be corrected.

    Perhaps GRZ should own a larger share of this mine once more: 45% to 55% should be about right.

    #OneZambia

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  46. God is great. In his infinite wisdom he has made this man spill the beans. You can not continue to hurt the people of God for so long. According to Mr Agarwal KCM has made a profit of USD 4.5 billion over a period of 9 years. Meanwhile they have only paid a dividend of a fifth (1/5 of 73million USD or 14million USD) to the Zambian Government!!! How Stup!d, Naive, Id!otic can a people(we Zambians) be??? So KCM owes Zambia USD 1.6 billion in Taxes. ZRA can you please start process to recover this money INSTANT plus interest ba chimbwi imwe!!

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  47. Zambians, for once wake up. Kaunda told us about such to come. Exploitation of man by man. Do you know that Indians are racists by nature. Here is what is supposed to happen gentlemen. UK and its Ambassador to Zambia were not happy with Vedatta’s tax tricks. We have heard stories which says that he even promised to build a University in Chingola and none of that happened. KCM continues to punish us through suppliers and ridicules us now in this video even further. We need to declare all Indians in KCM Persona Non Grata immediately. Zambia must with immediate effect place the mine under government’s custody as they study the case. Constitute a Technical Committee to thorough investigate what happened and what profits the mines makes. Suspend on tax incentives that the mines is enjoying.

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  48. Suspend all tax incentives and impose penalties back dating to the start, this must be done because there was no meeting of minds from the start, Zambia meant well and they did not. Guinea, DRC, Costa Rica, Indonesia, Bolivia to mention a few have taken bold decision and revoked their mines from investors who were actually infesters and infectors. SI 33 and SI55 was an instrument that GRZ must have imposed on Mines only. With immediate effect GRZ must impose Windfall Tax on mines.

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  49. FIRST: ZRA take note and do the needful to collect the 9 years Taxes based on $500 million yearly profits and a $1 Billion., less the fake taxes earlier paid. You are so aggressive at Zambian poor companies which sometimes are forced to close due to your unrealistic credibility checks, leaving out these thugs now laughing at you.
    SECOND: Zambia in the only country in the entire world which licks any con foreigners in the name of investors. They have displaced people in villages, compounds and industries and taken over chunks of land. No Zambian is even in any neighbouring country and owns land the way it is here.
    THIRD: We are a laughing stock out there. Foolish Agarwal is not the only one who has laughed so loud! Check some villeges near Lusaka. They are full of Somalis, Indians,…

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  50. Chinese, Indian infestors are all the same. They will only leave huge holes for our grandchildren to show that we once had minerals. The mineral resources that we so proudly think belong to us is not ours it has not benefited us in anyway at all. As for our leaders they will not do anything for our benefit. I doubt if there will ever be a president who will change things. I was thinking of voting for HH in 2016 but no one has ever explained to me how he got his wealth. They just tell us what we want to hear at campgain time once they get into power they forget. The miners on the copperbelt have already summed it up. Cobra ayaluka umuswema. We never knew that our people will continue dying at the hands of the chinese. And why is it that all the big contracts are given to the chinese?

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  51. I don’t know about others but personally I feel more insulted by the stu.pid statement issued by this idi0t. Who does he think we are, a bunch of imbeciles like him? Let him take that statement and go and shove it in his an.us. We are tired of these insults. To make matters worse, even our own government keeps on insulting us. So we don’t expect anything tangible from this useless government. We are warning that 1diot at KCM that he should just keep his an.us shut because we are capable of fighting for our copper. Let no man underestimate our capabilities to claim what is ours. That’s why the call for a NEW CONSTITUTION must not stop. We must hammer these id10ts in government to give us what is ours. We must not relent. They can kill us but we will not stop until we get what is ours.

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    • But you are *****s and a bunch of embeciles! Do you think he would have the audacity to say this if he thought highly of you?

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  52. There is absolutely NOTHING wrong with what he said. He is 100% accurate. What we should be focusing on is how on earth the government with all its educated professors could have sold such a viable investment for a song? And as if that is not enough, we are scared senseless of introducing windfall tax. The people of this land who should be the real owners of the mine are not benefiting from their God given natural resources. And our so called caring government is so quiet that even a needle would make a louder noise when dropped on cairo road during peak hour. Its a shame indeed. If this government does not act on this matter then i can guarantee that we are doomed indeed!

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  53. ” In fact, over nine years of ownership by Vedanta Resources, KCM has made $2.9 billion of capital investment and made just $73 million in dividend payments – a fifth of which is to the Zambian government. ”

    Oh boy…

    So KCM invested $2.9 billion in the mine, yet Anil Agarwal claims that he made $5.5 billion in profits. (‘1 billion’, plus 0.5 billion over 9 years, is 1 + 4.5 = 5.5 billion.)

    So KCM made 5.5 plus 2.9 billion in (re-invested?) profits in 9 years, that’s $8.4 billion, that means they made 933 million in profits every year. That’s nearly a billion dollar in profits every year.

    And they only made $73 million in dividend payments, ( 1/5th) $14.6 million went to the Zambian government (ZCCM-IH) as dividend payments?

    So how much did they pay in taxes again?

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  54. This man has done well to authenticate the video and if i were his boss, i would fire him immediately. Firstly, the figures of investment he is mentioning are incomparable to what his boss bragged about. Secondly, he mentions the very things his boss talked about “corporate social irresponsibility”. In my view, he has not denied that the man said what is reported but rather agreed that it was actually said except “IT IS JUST ONE OF THE MAIN THINGS HE SAID”. I believe in the full video he has ridiculed us as a people even the more. Others may wonder why i am including myself but i take it anyone who insults my president (current or past), insults the all nation. So my call to our government is that we should do a Donchi Kubeba on these Infesters and get what is our God given resource…

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  55. For an Indian to brag about something …that just tells you they are laughing all the way to the bank and then at the same time threatening empty tins like Fossil Chikwanda and Papa Smirf Shamenda with with job losses for 1500 casual workers.

    This a good wake up call…we have been telling you this…too much docility and passivity in Zambia. I would glad if it was a Zambian bragging about this not a foreigner.

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  56. The statement does not give a reason why he mocked and made fun of our government by giving him a VIP welcome and expectations that he will improve the lives of Zambians.

    Man of Action, where are you!!

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  57. Muhubahuba Nchilyo Chabasongo, so goes a Tonga saying. It means a foo.lish person is always exploited by the clever ones. It is not Vedanta Chairman Anil Agarwal. He has done absolutely nothing wrong. Actually if we want we can nationalise the man but it will cost more billions of dollars to settle this case in court. It is us to blame, our leaders, our systems, our constitution.

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    • He waws just stating a fact that we are sleepy from plot one which has actually woken all of us up. From here we will make corrections going forward.

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  58. I think this stinking thief should go for capitol punishment with one underfive Hichilema for reaping our national resources using their crookedness and thievery. Look at how underfive became rich from the privatization process, while this stinking Indian i***** has become rich by cheating us on our profits. They should both be hunged

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  59. How unlucky can we be as a nation. We sell our mine to one Indian and he hides profits from us, we appoint one underfive Hichilema to manage our privatization and he sees an opportunity through that to enrich himself. Take them both for capitol punishment and hang them

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  60. Bantu botatwe where are you? If it was a Bemba or Sata who sold the mines you would have unleashed insults at Sata or bembas. Bloggers like jay jay, Wnzelu, dobo or ndobo, matipa, dudelove etc would have unleashed insults at him. Now it is one of theirs who sold the mines for a song, they are quiet. Actually most of the educated people from some other tribes are the ones who has caused much suffering in the country. They are educated thieves and they have convincing rhetorics. Sata help us please. We love you. In as much as we want to attract investors, please help us remove this shame.

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    • You simply do not see it do you? Remove those cadre tinted lens then come and debate national issues.
      Wake up!!

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    • @jay jay or gay gay or whatever, am not cadre. Don’t think that whoever is happy with the current gvt is a cadre. I am an engineer who is non partisan and am free to comment on any issue. What are you doing with people like William Banda who used to slice off people’s b.u.ttocks?

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    • You still don’t get it do you? If you are an Engineer as you claim you are; then there lays the problem with some of our “professionals”.

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  61. Why are you cling to our Mine
    Please let go we can run our mines better, if you wish float change the share holding as follows: 10% GRZ 15% Vandetta 25% ZCCM Ho;ldings Ltd, 40% Zambian 10% Public PPO through LUSE.
    Otherwise President Sata do a KA-ZAMTEL on them.

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  62. Shoot the Indian..! In my view, Agarwal is an example of how Indians in general are. So no surprises there. One has only to look at how Indians living in Zambia behave in this country to see that Indians in general think highly of themselves…they are scum. How many times have we witnessed workers being burnt to ashes by fire outbreaks in factories and bakeries after being locked inside overnight by their Indian boss? It’s been the same song since independence. I have no time for the smelly *****s and I don’t care being called a racist…because Indians are naturally rabid racists, no matter how much they pretend in public. If I were president KCM would have been surrounded and closed the very minute the video showed up on YouTube…but I know HEMCS is still planning the next move.

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  63. Actions speak louder than words: AS FOR ME, I DONT BUY STUFF FROM INDIAN SHOPS. Lets start the movement bane; buy from local Zambians. Its the way to go.

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  64. If kcm was sold for thequoted amount, then after 9 years kcm has made profits that he reported to the stakeholders, that reinvestments mademore cadres employed. Problem most of u zambians react stupidly easily duped, poorly educated 50 years of independence nowhere to go but jealousies and killing each other.

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  65. The question is – why was this guy or any private individual ever allowed to buy the biggest copper mine in Africa? Why this obsession with creating a new Cecil Rhodes? This is public property, and a few ministers thought they could make a lot of money pretending it was theirs to sell.

    This nonsense ultimately comes from the IMF/World Bank, which is pushing ‘privatisation’ on every government they can get into their claws with debt. Often taken on by their own former/future employees. They are doing exactly the same thing in Greece ‘the home of democracy’ so-called, where the head of government Papandreou was replaced by the former Vice President of the European Central Bank, Lucas Papademos. The new head of the Ukrainian government is the former head of the Bank of Ukraine.

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  66. pliz lets as all stand up & put our politics aside
    .kcm blongs to zambians nt pf, balelandalandasana insted of wat nxt.tanx bro

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  67. For all i know ,talk is all what this is all about . We are good at knowing exactly what is wrong and should be corrected .However,the reason we can not manage our own resources is our lack of meaningful action.So while others loot,we whine and dream on untill you wake up only to find the country under private ownership as our creditors claim unsettled national debts.

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  68. Can unza students get a police permit to go and picket the INDIAN EMBASSY in lusaka? Whilst you are at it invite BBC, SABIC, VOA, CNN etc.

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  69. Our reaction time to matters of national interest is really appauling!!
    It is such behaviours or reactions by Zambians which give foreigners the powers to behave nd treat us the way they do…WE ARE SLAVES in our own country.
    We are watching you mwe buteko allow us to protest, grAnt uS police permits we vent it out so that you understand what i a local miner go through. I amb also asking thaat these protests bé allowed and protect the local employee who may want to protest against them..I THINK YOU HAVE EASILY FORGOTTEN WY WE VOTED YOU IN OFFICE, these people were untouchable under MMD ifyo twakana under PF!! Remember the long ques that were there during election day, we wanted CHANGE Remember how we celebrated your victory when PF won in 2011? Twasukeni we refuse to bé quiet over this!!

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