Mr Jack Kalala speaking at the media briefing in Lusaka today

Former Special Assistant to the late President Patrick Mwanawasa, Mr Jack Kalala, has come to the defense of the late President over the price sale of KCM to Vendetta Resources of India.

Addressing the media today , Mr Kalala said that the total amount realized from the resale of KCM was US $65 million unlike the 1998 sale of US $25 million.

Below is the full statement

SALE OF KCM TO VEDANTA -2004

Incidentally some videos and write-ups are, all of a sudden, making rounds on social media regarding the sale of Konkola Copper Mines (KCM) to Vedanta in 2004. In one such video, a Pastor speaks with impetuous passion casting aspersion on the sale of KCM at US $25 million to Vedanta while quoting the buyer to have made US $75 million in three months after the acquisition of the mines. One would only hope that these social media circulations are not being instigated by some sections of our society to divert the attention of the citizens from the current happenings at KCM.

The purpose of this statement is to give insights of what exactly transpired before and during the sale of KCM between 1998 and 2004 unlike the half-baked information of what is being championed by people who were not even privy to the sale.

Zambia Consolidated Copper Mines (ZCCM) was sold in 1998 for a total consideration of US $627 million. The sale was divided into 7 sections of which US $25 million was paid for KCM, Kansanshi mine was US $28 million, Luanshya mine was US $35 million, Chibuluma mine was US $20 million and others. The privatization of ZCCM commenced in 1996 after the Chiluba Cabinet, the Board of ZCCM and the Zambia Privatization Agency (ZPA) approved the privatization report and plan presented by the UK based Financial and Legal Advisors, NM Rothschild & Sons and Clifford Chance. At the time of the privatization of the mines, Government was spending US $1million per day to keep the mines running and save job losses.

Specifically for KCM, it was first sold to Anglo American Corporation (AAC) in 1998 for US $25 million during the MMD Government’s privatization of parastatal companies in accordance with Government policy and privatization report and plan. Records are there at involved government institutions for anyone to verify.

President Mwanawasa, MHSRIIP, was elected as President in December 2001 and was sworn into office on 2nd January 2002. Barely a few days after President Mwanawasa was sworn in, Anglo-American Corporation, which had bought KCM decided to abandon the mines due to low prices of copper, which had slumped to lower than 80 cents per pound (lb). This sudden and unexpected move sent shock waves not only across Zambia but the world at large due to the privileged status of AAC and Zambia in the mining world. This created apprehension and uncertainty on the economic future of the country.

In the face of this unexpected crisis caused by AAC, the owners of KCM, President Mwanawasa, as a responsible and committed national leader, rose to the occasion and provided leadership. He assured the nation and the workers at KCM that the mines would continue with the operations and that there would be no job losses until a new investor was found to take over the operations of the mines. To implement this assurance an administrator and CEO, Mr. Jordan Soko, an employee of the mines, was appointed. Indeed for two years KCM continued to operate normally and there were no jobs lost.

The Government of President Mwanawasa handled the resale of KCM professionally, transparently and as provided for by the laws of Zambia. He took a lot of care and caution to protect the interests of the workers and the nation. President Mwanawasa was very cautious especially given the lessons learnt from the liquidation of Zambia Airways and Luanshya Copper Mine that resulted in lives being destroyed, families separated and dreams shattered. It was important that the Mwanawasa Administration took cognizance of the challenges of the liquidation of Zambia Airways and Luanshya Copper Mine.

As such, the Government religiously observed the legal procedures of selling public assets through an open tender. At the time, Vedanta provided the best offer. A negotiating team of experts from both the public and private sectors was appointed to negotiate the price and the terms of sale. The team was composed of Government technocrats and LAZ, among other stakeholders. To maintain the independence of the negotiating team appointed by ZPA, the President deemed it improper to include any staff from State House.

A delegation of stakeholders, among them MUZ leaders, was sent to India on a verification mission of the Sterlite companies operated by Vedanta. The delegation was fully satisfied with the findings and had no objection to selling KCM to Vedanta.

Seventy-nine point four (79.4) percent of the shares was bought, while the Government, through ZCCM-IH, retained 20.6%. The cash price was agreed at US $25 million. It was part of the agreement that Vedanta should develop Konkola Deep to extend the life span of the mine and to do further explorations. At the time of sale the life span of the KCM mine was estimated to be 8 years. The public statements made subsequently by KCM suggest that the result of this investment KCM has increased the reserves to over 200 million tons of copper ore, which would translate in many benefits not only to the company but also to the nation, the employees and other beneficiaries, such as contractors. This is a result of responsible, dedicated and visionary leadership that President Mwanawasa provided. He was more interested to develop the country than self and looked at both short term and long term benefits to the country.

In terms of cash consideration, in addition to the US $25 million paid by Vedanta in 2005, Anglo-American Corporation had paid US $20 million to the Zambian Government as compensation in 2002 for abandoning the mines while the World Bank also paid US $20 million in 2005.

Therefore, the total amount realized from the resale of KCM was US $65 million unlike the 1998 sale of US $25 million.

Note that the sale of the mines was a pre-condition given to Zambia to reach HIPC completion point. You may wish to know that Zambia was the last country to achieve HIPC in the region, after Mozambique.

So, in addition, the nation gained from the cancellation of foreign debts amounting to US $7 billion.

None of the growth that Zambia has seen since 2005 could have been achieved had we not achieved HIPC. Clearly, this was a far better deal that President Mwanawasa got from the resale of KCM.

Later the Mwanawasa Government introduced the windfall tax from which it raised US $485 million, which was put in a special account at Bank Of Zambia. This dedicated account was meant to be used on special projects to develop the country as provided for in the Vision 2030, which was to make Zambia a prosperous middle class income country by the year 2030. As I was not in Government after November 2008 so I have no idea what happened to the windfall tax money. Had the course been maintained Zambia today would have been a shining star and a proud model of development in Africa.

In addition to the introduction of the windfall tax on the mines, President Mwanawasa also cancelled the Development Agreements (DA’s) that had been entered into during privatization in the 1990s. The DA’s had provided the mines a tax moratorium of not less than 20 years. President Mwanawasa offered to personally represent the country in any court of law against any litigation by the mining companies.

President Mwanawasa also worked hard and found new investors for the closed Luanshya mine. New mines were also opened in the North-Western Province. By 2008 at the time of President Mwanawasa’s death, the state of the mining industry in Zambia had changed from gloom to great optimism as Zambia produced twice the amount of copper she had produced when the President took office in 2002. It was projected that in ten years time, Zambia would produce 1 million tons of copper. That’s how hard President Mwanawasa had worked to give Zambia a new life and to put it on a positive trajectory to economic prosperity and wipe out poverty.

It is, therefore, wrong and unfair for people who are not aware of the details of how the process of sale of KCM went through. President Mwanawasa strongly believed in consultative leadership. There was no decision on the part of the President that had been made without consulting Ministers, experts and other stakeholders.

It is my considered opinion that decisions made by President Mwanawasa were in the best interest of the country. He had stated at the time he took office that between personal interests and national interests, the later would always take precedence. President Mwanawasa was in office not for personal interest or riches but rather, for Zambia’s collective interest. He considered every Zambian as an equal investor and benefactor of the country’s development effort. President Mwanawasa left office not richer than he was when he became President.

The failure of KCM now, if failure there is, cannot be attributed to the decisions that President Mwanawasa had made. Subsequent governments have been responsible for monitoring the operations and performance of KCM and they have been appointing directors to sit on the board of KCM. The question that should beg answers is: “What have these directors been doing on the board, if not to safeguard the country’s interests?” Why is it that during the time of President Mwanawasa, KCM performed to expectations?

During President Mwanawasa’s time, there was no problem of input VAT refunds because the Government allowed ZRA to ring fence the VAT collections, which were refunded when claimed.

Clearly, we can all see that fiscal discipline was rigidly observed during the time of President Mwanawasa. There was macroeconomic stability and the country was on the right trajectory to achieving the 2030 Vision of becoming a prosperous middle-income country by 2030.

Instead of making aspersion on President Mwanawasa, who selflessly and tirelessly worked so hard to restore confidence in the economy and make Zambia’s dream of becoming a prosperous middle-income country by 2030 attainable, let us, Zambians, focus on finding solutions to the current problems the country is facing.

President Mwanawasa found the country on its knees; he didn’t waste time looking for faults, or blame President Chiluba or indeed Francis Kaunda or Valentine Chitalu for the privatization of the mines and other parastatals. He worked hard to put the country back on course of development. And within the six and half years, that he served, he turned around the country’s fortunes and we can proudly say he left the country much better than he had found it as indicated in his mission statement on assumption of the Presidential Office.

I thank you for your attention and listening!

JACK N. KALALA

FORMER SPECIAL ASSISTANT TO THE PRESIDENT – POLICY AND PROJECT IMPLEMENTATION AND MONITORING

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73 COMMENTS

  1. Yes,under LPM Zambia had a vabriant economy Ka dollar kalipona to K3/ $1. Ask Magande the prudent Finance Minister Zambia had ever have.He was higher in perfomance than Late Chigaga under Unip and Late Ronald Penza under MMD.

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    • Kalala is late Mwanawasa’s relative who equally benefitted from the undervaluing of KCM. He must be investigated also..!

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    • Where is the wealth that Kalala has from this benefit you are talking about? He has no Range Rover, no fancy house, nothing compared with some presidential aides who have served in the presidency for a far shorter period than Kalala.

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    • It is true that the government was pumping money in the mines to keep it afloat.

      However….. !!!

      Jack Kalala… You guys did not even do your homework and inventory properly.

      Neither did you look at Global Future Contracts on the London Mental Exchange or Chicago Commodities Exchange.

      Had you done that, you could have seen pending ” Futures Contracts” from leading global buyers. Which in the end started pushing the price up for copper.

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    • cont..

      The Indians did their home work. !!!

      That’s why from day one they started mocking Zambia that they got the mines for a SONG, because they knew sooner, or later, the price of copper would go up because China had started making Future Contract orders of copper in large quantities on Commodity Futures Exchanges.

      This is what has partly made China to become a powerful economy today because they have cheap labour in abundance to produce end products

      Business is always about timing. Common sense is that every buyer asks for discounts.

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    • cont…..


      Demand for copper was just around the corner.

      Vedanta had aimed at buying our mines Below Market Value. They did that while our Economic and Political leaders were sleeping. Corruption played a big part too. Plus Mwanawasa was looking at re-election after 1st Term.

      Credit must be given to Mwanawasa to some level. He was in a hurry, panicked not well healthwise

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    • cont…

      If I am looking to buy a property for Capital Gains { CG} in London today.

      I will look for a house that is Below Market Value (BMV) in a nice area. Then I will develop and modernise it. Sell it to maximize my profits.

      So instead of making 20% profit, I will end up with 32% to 41% profit after all deductions. Because I got it for a SONG.

      That will make my Bank Manager even give me more Cheaper Loans for the next multiple housing projects. And everyone becomes a big winner.

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    • cont…


      So the property buyer will go home excited about the discount I gave him.

      But in reality I can afford to give him discount because I am still sitting in my profit margins.

      1. The banker makes his money out of me
      2. I make my profits money
      3. The buyer gets his dream house

      VEDANTA OUT FOXED ZAMBIA. THEY BORROW CHEAP MONEY AND MADE $ BILLIONS!!!!

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    • What surprises me is that there is no documents to substantiate all he is saying…I mean these are public dealings there should be documents or agreements out there!

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    • What this man has said us incomplete. Amongst the requirements for HIPIC completion point were; cash budget, wage freeze, employment freeze all that were achieved by Chiluba”s government. Mwanawasa came in when Zambia was about to reach the HIPIC completion point. Credit sshould also go to Chiluba for the strengthening of our economy after date cancellation.

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    • What baffles me is how we sometimes get lost in hero worshiping to think anyone is or was perfect. None of us are perfect and yet we can only become perfect through Christ. The Principles in Scripture are simple. Set yourself a standard by Loving God and then practice that Love of God by Loving your neighbour. The measure of any person success or purpose is positive impact they have/had on their bothers & sisters & not how rich, strict or smart they were. We can only succeed as a people if we all embrace this principle as no 1 person will ever resolve country’s problems. God Bless Zambia

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    • The Chosen One: No one is calling anyone perfect or evil. We are debating our fellow human beings who had the privilege from us to lead us. The God business to me is intellectual escapism because you surrender all responsibility to some unseen power and hope things will somehow work out. You have surrendered to God and please make it work for Zambia.

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    • @Nemwine, you miss the point. Whether you believe in God or not the principle still works. If your main objective is self promotion or appeasement when living in a community you will never succeed & your name on earth or in heaven will never be remembered. If, however, your objective is to uplift others around you in the same way as you want to uplift yourself then you are living your divine purpose and you will not be forgotten. That’s why people will fondly remember e.g. President Chiluba. Despite all his faults he was 1st President to empower Zambians from all walks of life with home ownership. You can say anything you want about him but their are millions of Zambians who thank him for that. God Bless Zambia

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    • 1.8 The documents are there but they will not show u becoz the song has always been HH sold the mines so if they showu the documents then they will be caught out .

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    • The Chosen One: I have great respect for religion because it is important to a great many people. When I read about the history of pioneer missionaries who brought Christianity to Zambia, I feel touched by such dedication. I am not talking from without because here are some of the titles in this regard: See Fr Brendan Patrick Carmody S.J on the Catholic Church’s contribution to education in Zambia. Check also this title MINERS AND MISSIONARIES. I bought my copy at the Catholic Bookshop in Lusaka. Countries do not become Christian by declaration as in what Frederick Chiluba is remembered for. That is fake Christianity. Christianity was brought to Zambia before Chiluba was born.

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  2. Well articulated. The current failures want to involve Mwanawasa in their failures. Mwanawasa left this country with a bright future which unfortunately has been turned around 180 degrees.

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    • INDEPENDENT OBSERVER

      Sorry to ask on an open forum and probably going off mark.

      Is this how you make your $ Dosh in property, besides working in investment bank and living in a £4m house? From humble beginnings to where you are today, still down to earth.

      Well done bro. Haaha…Don’t marry a white woman.Better still stay single.

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  3. One Levy Patrick mwanawasa (LPM) no Zambian was retired in national or public interest on account of tribe.But here we the civil service is full of cadres who have caused such a messy

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  4. A fair comment from someone who was privileged to know the facts. But how was Rothschilds allowed to advise GRZ in 1996/8 when they have been partners with Anglo-American Corporation from many years back? They were clearly conflicted. How did the whole of Zambia fail to see this from the history of British corporate penetration and domination in Southern Africa? If only we were good students of history, our own history! Existing environment probably prevented those who knew from alerting government. Late Ronald Penza never thought that anyone knew more than him.

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  5. Best President we ever had but unfortunately his successor rupia didn’t carry on with the programme of a special account for the windfall tax which again took us backwards.

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  6. This story is fake. KCM was not sold to Anglo, CDC and IFC in 1998. It was sold to in 2000. The purchase price was not $25million. Rather, it was $90 million.Hence the exit packages for IFC, CDC and GRZ in 2002 were $30million each. Ba Kalala ikaleni fye.Get your facts right. It is such incoherent statements from serving and former presidential aides that really nasuate me…..something is terribly wrong with appointments in that department

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    • Does a mistake with the year really matter in this case? He has raised issue with what government-appointed directors were doing on the KCM board. Who sold Luanshya Mine to the Binani Group with worse consequences than Vedanta purchase of KCM? How come this question never gets asked? Let’s have a level-headed discussion.

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    • @Chaos Theory Reloaded, I agree with you on the true value of KCM and also on the fact that it REMAINS true that’d the value of KCM is waaaaay higher tha. Sold!

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  7. PLM was the best president after KK , then RB , then Sata then FJT, lungu is the worst, yet has handled the most money , $17 billion at his disposal…..

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    • @Spaka, His Excellency President Lungu is the most important because he is delivering the rebirth of Zambia. The 17 Billion has gone to STUPENDOUS infrastructural changes which makes Zambia sparkle under the sun.

      Only a Blind Man and a Mean Man can deny the current developments under President Lungu.

      It’s ridiculous to praise Sata and condemn President Lungu because he carries on that legacy started under late Sata.

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    • Patriot abroad

      How is lungu be most important ?

      Any one with $17 billion at their disposal can build what you see today, anyone.
      Even a chinama patient.

      It is how you handle the $17 billion that counts…..

      do you still build but creat a high wave of exports and employment ???

      or do you build and end up in a debt trap with high unemployment and seeking and IMF bailout ?????

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    • @Spaka, unfortunately without good infrastructure the desired exports and high employment may not happen as efficiently as desired.

      It’s important to understand that economic conditions within which favourable conditions for success decide your economic performance. These conditions are volatile and are not controlled but can be mitigated by good economic plans but unfortunately no matter how good plans are Wars, Trade Wars etc. are not foreseeable and the studies of respected economists have shown cyclical trends, for example, it’s known that every 10 years we can expect a depression no matter how good our economic plans. High unemployment, inflation …. happens to good Finance Ministers world wide.

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    • John Maynard Keynes…..
      ‘Keynes theorised that during recessions, the public gets frightened and holds back on spending, resulting in more layoffs, which in turn produces less spending in a vicious circle of economic decline. The way to break the cycle, said Keynes, is to pump government spending into the economy by building roads and bridges and other public works. ‘

      ….Ring…a…ding….ding? SHOPPING MALLS get you spending!

      We are doing okay under His Excellency President Lungu. We commonly agree that Corruption is the beast in politics.

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    • Patriot

      That is the point , shopping malls that sell 80% forigne goods. In this case even Keynes theory will not work.
      We are giving employment to South Africa. Factories and manufacturing should have been the prime target with GRZ involvement instead of waiting for foringners to come and do that….

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  8. Barely a few days after President Mwanawasa was sworn in, Anglo-American Corporation, which had bought KCM decided to abandon the mines due to low prices of copper, which had slumped to lower than 80 cents per pound (lb).” By Divine intervention those crooks left the country. It is time we got rid of these crooks Vendata for good also. kikikiki

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    • Hilarious, but TRUE DIVINE INTERVENTION!!!! My sides hurt from laughing!

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    • 8.1Patriot Abroad – Championing Mental Health, Democratic Rights, Inclusion & Participation

      I am laughing too now my friend kikikikiki. God has stepped in so many times for us. Our leaders are always the problem, opposition are even worse, just plain clueless. Remember Zambia won the Africa cup in Gabon, Divine intervention. Mwanawasa managed to get all of Zambia’s debt cancelled, Divine intervention. Now we have a chance to get our mines in Zambian investor’s hands, Vendata polluted our rivers, UK courts have charged them with a case, KCM can easily be ours, again divine intervention. Now we as Zambians need to work and use our resources wisely.

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    • Yes, if only ALL Zambians can be on one side on this Mine Reverting back to us created by Divine Intervention!!!

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  9. I agree that ALL of Zambia should remember late President Mwanawasa with gratitude for his great work in turnkng our fortunes around. Let us remember also that the impetus for debt forgiveness was the work of our good friends in the West particularly Bob Geldof and later activists who campaigned relentlessly among Western governments and their citizens in awakening a consciousness that led to changes being carried through.

    We wish the region from which Mwanawasa originated would birth another uniter of the people, as HH has messed up that union with the rest of Zambia.

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    • Kalala has stood up for Mwanawasa, ….as well he did because the dead can’t defend themselves, he has thus brought up a good work. However, there is some fancy footwork by Kalala in his presentation. Some clarity required on the below calculations which do NOT AMOUNT TO US $65 million for KCM sale but includes compensations:-

      It remains true that Vedanta ONLY paid $25 million in 2005. The remainder was compensations from ACC and the World Bank.
      **The issue still remains that KCM SHOULD have been sold for $65 because that was it’s value if you logicalise the compensations paid!!!

      Kalala meant to say under advisement ……….’that the total amount realized from the resale of KCM SHOULD HAVE BEEN US $65 million unlike the 1998 sale of US $25 million.’. Because…

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    • Kalala meant to say under advisement ……….’that the total amount realized from the resale of KCM SHOULD HAVE BEEN US $65 million unlike the 1998 sale of US $25 million.’. Because compensations are paid to reflect the true VALUE of the loss of an asset.

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  10. President Mwanawasa had no peers in the region, in terms of clean governance, accountability and foresight. He brought up a different mindset to the way, us as Africans, should look after ourselves and our countries.
    He criticized his peers when it was necessary(and unfashionable at the time – eg Zimbabwe the sinking Titanic), he spoke strongly and with conviction in what he believed in and acted accordingly; he brought about genuine developmental projects without comprising the economic stability of the nation.

    Had he lived longer, am sure the face of Zambia would have been different.

    Mwanawasa was a God-sent true leader, to show us that it is possible, in Africa, to run a country with clean governance.
    May God bless Zambia!!

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  11. Kalala is not the right person to give us these facts. He himself has said he wasn’t there most of the time during the KCM saga, so why should he be believed? ECL’s government, if it is serious should give the facts. The time for n independent postmortem of what transpired during the sale of the mines is now. It is true Kalala is a relative to Mwanawasa, so he is trying his outmost to defend the legacy of late Pres. Mwanawasa. The KCM is national and not partisan and it requires proper information to be given to the public not in peace meal fashion. I didnt understand why Kalala chose to mention valentine Chitalu and not his tribal cousin HH as people responsible for the privatization of the Mines? I would not be surprised that Kalala is on the payroll of vedanta, he appears to be in…

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    • What would Vedanta benefit from paying Jack Kalala. What strings could he pull for them as a private citizen with no political influence by choice? Vedant have already appointed a lawyer to take on Milingo Lungu &Co.

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  12. Very interesting indeed! So the records are there and GRZ owned and sold the Mines to Foreign Investors including Vedanta. Therefore the allegations that HH sold these Mines is totally false. In any case he didn’t own the Mines and u can’t sell what is not yours. If HH stole the Mines from Govt why was he not arrested for the theft?

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    • He unfairly benefited from the sale of mines,inside trading,conflict of interest and dishonest conduct were some of the means and ways he enriched himself from the mines. It was so porous that time and he took advantage. why is some of his money in panama.He his a white collar thief

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    • Yes, HH has registered a company in Panama and the registration details still reflect his name. That is not the behaviour of someone trying to hide something. Crooks register their companies under dummy shareholders. Now that it is known that HH has a company registered in Panama, perhaps investigations can start. Call HH for questioning, after all his names are in power.

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  13. Point of correction ,Mwanawsa did not turn around the economy. The economy was given a life line by creditors when they got a 90 % hair cut. Chiluba made the difficult decisions for the country to under go thru SAP and Mwanawsa happened to be president at the right time. So, can anyone tell me exactly what he did to turn around the economy?

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    • @Alibaba, I agree with you totally. Many Zambians did not realise this true fact. Credit should have gone to Chiluba for making sure Zambia reached the HIPIC completion point. Mwanawasa just came in to skin the animal Chiluba had killed.

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    • He instituted fiscal discipline whereby VAT refunds to the mines were no problem. As a result the mines were able to pay suppliers on time and this had its own multiplier effects. Simple stuff for anyone with common sense. Remember VAT was Chiluba’s policy. PF do not ring-fence input VAT collected because they just spend and spend.

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    • @ Alibaba
      That is the fact most of us overlook. Chiluba was bold enough to implement the SAP,which UNIP could not cos Zambians became weary and riotous .By the year 2000,Chiluba had met most of the HIPC conditions and Zambia reached the HIPC stage called HIPC Decision point ( from here then its Complement Point).The HIPC Decision milestone is the reason Chiluba advanced to have a third term so that he can finish the works he had began( HIPC Completion Point).Unfortunately,Zambians were determined not to have the constitution changed.LPM took over at Decison Point and instead of acknowledging the efforts of his predecessor(like the way Chikwanda applauded Musokotwane for the job well done), alas,he was determined to paint Chiluba black and rode on his successes.However no one can rewrite…

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  14. The level of illiteracy comes a long way. It doesn’t matter what the exchange rate was, but economics and poor leadership have been Zambia’s problems. To sell @ $25M these guys were just too incompetent Mwanawasa included. It just got worse now because now we have the utter incompetent who are also the worst human beings you can find and looters. They are worse than armed robbers.

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    • US$25m at that time was a lot of money are u sure that the value of ur house at that time would be the same as today

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  15. Chiluba did the donkey work. He took us through the most difficult and desperate time. To reach HIPC completion point, we had to endure harsh economic re-orientation programs such as Structural Adjustment Programme (SAP). Ronald Penza had to meet IMF and World Bank officials several times on what were called “benchmarks” or milestones. It entailed pruning excess workforce or downsizing the civil service, privatising the draining public companies, hence FTJ’s mantra, “government has no business in business”. That is economic liberalisation. Then came Enhanced SAP or ESAP. Then we graduated into HIPC. It at this stage that Chiluba’s constitutional time was up and had to leave. Mwanawasa took over and can be credited with prudent management and sincerity, which enabled to FINALLY reach…

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  16. Just imagine if HH was the one named in kalala’s article! But it is Kaunda and Chitalu. Are u seeing how queit it is? Sunday Chanda would have already released a long, winding attack on HH. If a people’s dna is lies and thieving, they think others are like them.

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    • Even Valentine Chitalu did not sell any mine because Chiluba illegally set up what he called ZCCM Privatisation Committee under Francis Kaunda’s chairmanship. This was in conflict with the ZPA Act

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  17. ….which enabled us to finally reach HIPC Completion point. Chiluba’s failure to curb corruption and delays in deciding the fate of other comapnies like ZESCO, ZANACO, Zamtel also delayed our graduation into the completion point. Suffice to say that even initiatives to have new mines opened in Northwestern province were started under FTJ’s MMD. Partly because of these two reasons, the opening of new mines and the real prospect of debt forgiveness made Chiluba seek a third term and claim the fame. Mwanawasa trashed his predecessor with corruption charges and tarnished FTJ’s image forever. In a nutshell Chiluba originated, did the donkey work, but because he condoned corruption, his successor constituted a task force which became corruption itself by chewing more than it recovered.

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    • “his successor constituted a task force which became corruption itself by chewing more than it recovered”

      I like this point. Many people ignore it or are simply not aware. Mwanawasa was corrupt too. Like RB once put it. “Our friends in the west sometimes fail to understand that the fight against corruption can become corrupt” Paraphrased-RB.

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  18. This is good however some of you symbiots always here to make noise as usual do. B R Mumba snr as your owner of companies, and accountant and economist, I await your humble but objective analysis.

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    • @Mayanda Mulenga, kindly remember that this is a social media outlet and without readers ‘who are always here,’ this site would fold.

      Your inferiority complex is sad. Try respecting all opinions makes for good democratic practice in society. Try using email for private opinion preferences.

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  19. “The question that should be answers is: “What have these directors been doing on the board, if not to safeguard the country’s interests?”

    THEY HAVE BEEN MAKING ALLOWANCES

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    • It’s a rag! They are all in it. Corruption runs deep.

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  20. Andrew Sardanis has made a very serious allegation against Mwanawasa about the KCM sale which Kalala hasn’t addressed. He’s just beating about the bush! The KCM scam is indefensible, Mwanawasa never wanted to listen to any Zambian. Edgar is also wrong to involve Kaiser Zulu and other State House staff, he’s isn’t doing for Zambia but for himself and other known criminals

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    • Cut out Sardanis. He only chose to speak after LPM’s death. Had LPM been president during the Meridien Bank scandal, Sardanis knows what would have happened to him.

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  21. President FTJ never sold KCM for $25 million dollars. We sold the mine when we had started profits with Mr Soko unfortunate development for Zambian people and I believe the president was incorrectly advised by his surrogates ( Kalala and the group including then Dipak Patel and Mahatani present in Livingstone during the signing ceremony). Kalala indicates that AAC left money for miners to be paid their terminal benefits but where did the money go?’In fact, the sale was not cash on spot but from concentrates and sales of processed cobalt and copper which was already in the system. Kalala is playing jokes.

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  22. Kalala has catalogued all of Levy’s successes WITHOUT attribution to the FOUNDATION that was laid by FTJ and HIS COLLEAGUES! If copper production was on the increase is bcoz mines had invested for previous 10 years under FTJ,if mines in NW Province had started production under Levy is coz they been explored,planned and invested during FTJ’s time.If Zambia had reached HIPC under Levy is coz WE,ZAMBIANS under FTJ and his colleagues had sacrificed for it for over 10years. Zambia was NOT on its knees when Levy took over,it was on it’s RECOVERY PATH,unlike when FTJ took over from KK.By the way Kalala has not told us how Luanshya mine was handled under Levy.Yes LEVY WAS GOOD BUT HE BUILT ON THE FOUNDATION LAID BY OTHERS

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  23. Lets take LPM’s short comings one side, the glaring question still remains,
    “What have these directors been doing on the board, if not to safeguard the country’s interests?” Where is that account dedicated to the proceeds of windfall Tax or indeed other revenue from the mines?? What happens to the VAT collected if ZRA can not pay VAT refunds?? Hate him or otherwise, LPM ensured fiscal discipline prevailed! If we recollect, we have been told that borrowed money is what goes into the various projects around. How is that projects end up half way for lack of funding? We keep hearing exceeded collection targets from ZRA, Toll gate monies is collected everyday, where is all that money??? Discipline fox…

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  24. To the Political Parties /President Sir /Mining Minister/ Common Man of Zambia

    As a common man who has earlier worked in great Country Zambia and in Mining sector , I am absolutely aghast by the current events around Mining Industry and specially how unfairly KCM is being treated . Below text of few words is hence my effort to explain the educated lot of what is Mining Industry and how it works so that multiple wrong perception can be cleared – Zambia is a great country and it has to achieve more heights – with wonderful people and sensible bureaucrats its important hence to take care of this Industry and assist them grow further. Any harm now would have far reaching consequences specially to Copper Belt Town and civilization around it . It’s a request hence to take a step back ,…

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  25. IT IS GETTING VERY INTERESTING NOW AND THE “INSIGHT ” IN SUCH A SMALL VOLUME IS ALL THE ZAMBIAN NEED SINCE THE READING CULTURE IN THIS GREAT NATION HAS GONE DOWN. JK THANKS FOR THE SO CALLED INSIGHT BUT WE NEED A BOOK SO THAT WE CAN HAVE A DEEPER ANALYSIS FROM YOU SINCE YOU WERE AN INSIDER IN STATE HOUSE BY THEN. WE NEED TO GET THE VIEWS OF THE LIKES OF VALENTINE CHITALU AS WELL SO THAT WE CAN GET A BALANCED VIEW OF THE EPISODE BUT I CAN ASSURE YOU THAT IF ZAMBIA WERE A COUNTRY WERE PEOPLE FOLLOW OCCASION SERIOUSLY AND ARE STUDENTS OF HISTORY, THE PANDORA BOX WILL HAVE BEEN OPENED BY NOW AND IT WOULD HAVE BEEN RIPPED TO PIECES, SOMETIMES IT IS GOOD TO LET THE SLEEPING DOGS LIE IN PEACE. LET US ALSO LEARN TO APPRECIATE THE WORKS OF OTHERS TOO BECAUSE I DONT BELIEVE THAT FTJ LEFT THE…

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  26. PF government is very dogging the situation as follows.
    1. FIC report came out they said it was incomplete or mfiti; when the investigators mentioned PeP the government said they are not following the reporting procedures
    2. When tried to form a commission of inquiry on the sale of the mines; the commission could not started because Dr ECL legal firm was also involved.
    3. KCM issue they wanted to attacked Levy‘s MMD but when Kalaba came out to defend Levy the said he under oath.
    4. Finally and gradually people are easily forgetting the CALCULUS corruption, decline kwacha, austerity measures,NDF,Lusambo murder case ,unpaid salaries, poor distribution farming inputs; the list goes

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  27. $65 Millions is cheap change for the wealthy people. I mean, if Neymar can cost $200 million alone, what about the mining giant KCM. Our economy has always been dependent on copper production and its markets so things cannot change overnight now surely??? From the beginning, FTJ erred big times to sell the mines period. Mwanawasa followed suit…because at the time a lot had already been looted leaving only leftovers for the nation to benefit from. Our mines are worth billions of dollars that is why they are always attractive to the investors. We need to guard KCM and all its resources and to make plans for the many families and workers that directly depend on it.

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  28. Mr Kalala we are not Child, that you should be putting butter on our faces. However good story you can cook up here we can not be derided by such rhetoric. Look Team so called you appointed didn’t do a proper assessment on the sale of the asset, the truth is you valued the mine at $25million which is undervaluing. The $ 20 million you got from Anglo America was for inconvenience and the cost govt was drawn to bear unnecessarily in running the mine while looking for the buyer, not for resale. How did world bank come in for $ 20 million. Accept the undervaluing of KCM Mr Kalala your govt sold for a song. Stop giving empty stories of saying no we saved jobs, no losses etc, you did not do asset evaluation, unless you tell me that you were valuing only the deposits underground and not assets…

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  29. and the video JK is talking about has been making rounds in the media for two years now yet he never dared to respond to it! HALF BAKED INSIGHT THAT SIDELINES THE DEEDS OF FTJ AND ONLY GLORIFIES THE WORKS OF LPM

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