Home Economy Disengaging Vedanta from KCM is meant to protect the workforce-Musukwa

Disengaging Vedanta from KCM is meant to protect the workforce-Musukwa

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Mines Minister Richard Musukwa at the meeting with the Japanese Officials
Mines Minister Richard Musukwa at the meeting with the Japanese Officials

Mines Minister Richard Musukwa has said that disengaging Vedanta Resources Limited from Konkola Copper Mines (KCM) is meant to protect the workforce and engage an investor who will protect the interest of Zambians.

Mr. Musukwa said that the move is not meant to nationalize the Mine, adding that President Edgar Lungu wants to ensure operations at the Mine are sustained and job losses are prevented.

Mr. Musukwa said the liquidator has been discussing with all key players owed huge sums of money by KCM. The mines minister said Government’s intervention in KCM was not made in a haste as the issues at the Mine date back as far as 2013 when the state commissioned an audit into irregularities at the Mine.

Mr. Musukwa said this in Lusaka today when he held a Consultative meeting with various stakeholders who included mining experts to discuss the technical matters surrounding KCM.

Mr. Musukwa said Government realises the need to engage various stakeholders in structuring a lasting solution to the challenges at KCM.

KCM has been limping for some time now resulting in its failure to operationalise Konkola Deep Mining Project(KDMP). The Mining Company further abandoned the upper ore body project at Nchanga which could have extended the Mine life by 25 years.

Other issues include high levels of indebtedness to local and international suppliers.

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11 COMMENTS

  1. Musukwa must desist from issuing further political statements and allow Technocrats to do their work otherwise his statements will send more wrong messages to the Kwacha! It’s careless political statements that make the Kwacha sick, not Social Media hoaxes!

    Sometimes you say a lot of good by not saying anything!

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    • Ok mr minister, we hear you. We will wait & see how the process unfolds. Not chi Kambwili & kachema’s mis-speaks we are now hearing. Kachema never came up with such statements last time he was just selling mines cheaply & enriching himself

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    • How can he forget to list that KCM also failed to sponsor Konkola Blades, Nchanga Rangers and Konkola Mine Police Football clubs. They are all in lower divisions.

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    • Sometimes it is important to let expects talk than just issuing statements. Vedanta stole from Zambians it is evident and that’s what we should use. Let qualified people get involved to turn the mine around.

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    • If the reasons govt is citing are valid at law and from a solvency standpoint, let them be subject to cross-examination by the Vedanta Resources legal team before an impartial tribunal. These reasons will be upheld and govt can have its way and respectable legal precedent will have been made. Justice must not just be done but must be seen to be done lawyers frequently remind us. Even murderers get their time in court.

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  2. Ok,Ba Minister,this looks good “damage control” BUT are you going to meeting experts just like that OR you are going to CONSTITUTE A TECHNICAL TEAM OF EXPERTS TO HANDLE THIS WHOLE PROCESS??The current approach of putting party cadres in front is totally unacceptable and smacks of sinister motives to defraud Zambians even further! WHY DONT YOU ALLOW THE SAME EXPERTS YOU BRIEFED TO HANDLE THE JOB,WHAT ARE YOU HIDING??Bribes you have been getting and what you want to steal in the process!?

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  3. ok so this mbeba of a minister is telling me that all this time, whilst chinese and foreign investors have abused zambian workers, the government has only realised the need to protect the workers? and only to protect mine workers out of all the workforce in this country? you expect some one with 5 senses to believe this crap?

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  4. “Richard Musukwa has said that disengaging Vedanta Resources Limited from Konkola Copper Mines (KCM) is meant to protect the workforce and engage an investor who will protect the interest of Zambians.”

    The former primary school tutor is not being fore-coming with the truth….how are you protecting the workforce when you are liquidating the company …please specify which clause allows you to engage investors. Pleas state the powers of this liquidator under the law… He is just yapping as if he is talking to kids

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  5. What about the rights of government workers who are not being paid salaries for months on end? Should the government be liquidated also to protect the rights of workers?

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  6. Protecting workers without any written down laws or protecting them by word of mouth is useless. You guys in power say all these good things every day which are nothing but promises which can be broken without any legal implications on you. You treat Zambians like children, stripping a company of its assets into oblivion while the workers have to hope and pray that some rich guy will buy the mine and give them jobs not knowing new owners like to hire their own employees

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    • Are we so dull as Zambians or what?This company is being liquidated,how do you protect the right of the workers?The workers employment have been terminated by operation of the law,how are they helping save their jobs?Are these PF guys always high or what?Why didnt they pursue a business rescue move under the Insolvency Act?What guarantee is there that the new investor will retain them?What are the possibilities of attracting a credible investor after the way KCM has been treated?The chances are next to zero,so this is another prospective chocholi mine,they will definetly be worse than Vedanta

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