President Lungu meeting the owners of KCM
President Lungu meeting the owners of KCM

President Edgar Lungu has maintained his stance on the liquidation of Konkola Copper Mines saying it is supported by the people of Zambia.

The Head of State yesterday met the Chairman of Vedanta Anil Argawal at the request of the Investor and informed him that the position government has taken on KCM is supported by Zambians and the meeting will not affect the ongoing liquidation process.

The meeting was held at the request of the businessman and the president agreed to meet him to listen to what he had to say.

At the meeting Mr. Argawal expressing his desire to continue running the mine and among other things to pay the debt owed to contractors and suppliers and to reinvest in the mine and restructure the shareholding of KCM.

This is contained in a statement issued to the Media by Special Assistant to the President for Press and Public Relations Isaac Chipampe.

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40 COMMENTS

    • Smart guy. He wants to have it on record he tried to solve this amicably.
      Hate to say it Zambia will lose in international court.
      Hope I am wrong.,

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    • Mbuzi,
      you are a real mbuzi. How can Zambia lose when this hot chill eating indian started the whole issue by not paying dividends, no paying supplies and not investing in the konkola mining project which was the basis for giving him kcm in first place?

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    • The people of Zambia, Chingola residents got tired of this Nsamya. They have made their position very clear. Vis, they do not want Vedanta.

      Icibemba chitila “Umucele baumfya kuusendele ukufina

      Let not brown envelops fly by.

      It was extremely not okay for Dr. ECL POTROZ to have met with this mis-investor owing to alot of misgivings pre and post proposed liquidation undertaking.

      But it is extremely reassuring that the Head of state has given Anil Argawal a word that the liquidation rolls on.
      Anil Argawal is feeling the pressure. Peddle down.

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    • Lungu has only agreed to Meet this chap Agarwal simply because he has a trip to India coming up don’t deceive yourselves to believe that there is any other reason …and I don’t believe what the Press aid has given is everything that was discussed…saying the takeover is supported by the people is an absurd reason to give an investor I don’t think it was even said like that we have only been given the tip of the iceberg here of what was discussed …learn to tell the WHOLE truth

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    • What’s the point of this meeting if you are not turning on your decision…this President needs proper advisers

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    • Wish HH was invited in that meeting.
      Zambians have not backed Milingo Lungu and Kaizer to liquidate KCM.
      And it taking too long for those thugs to be feeding from KCM cash.
      Zambians don’t like both Argawal and Milingo Lungu.

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    • In international waters. The much awaited IMF loan will go straight into Agarwaalz pocket. We shall then owe IMF… with interest.

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  1. No retreat no surrender on liquidating KCM,KCM will not be given back to Anil so the stance that the President as taken and maintained should be supported by all patriotic Zambian.ECL we support you.

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    • he is the president of Zambia and Zambians, he has listerned to the Zambian voice and he is standing with the Zambians on the KCM issue. what else do you people want from the Zambian president. please support the man and don’t put your hate words before Zambia unless you are not Zambian like som people we know who will not support anything from the otherside unless they are the ones saying or doing it. shame on those that always want to bring issues even when someone has done something good.The Head of State yesterday met the Chairman of Vedanta Anil Argawal at the request of the Investor and informed him that the position government has taken on KCM is supported by Zambians and the meeting will not affect the ongoing liquidation process

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  2. We told ECL to Dialogue with Vedanta and Agree on the Sale of Vedanta Shareholding in KCM. Whichever way u look at it. Vedanta will happily walk away from KCM with its Reputation intact and smiling to the Bank. Zambia will have to silently pay out Damages and Compensation to Vedanta at a Premium. There is more to this than what meets the eye.

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    • Dialogue has a life span. Govt have been following up on events with KCM for a very long time. Even the strongest critic of PF HH said that this action was long over. This the only item that HH agreed that KCM was given more than enough time to correct what this less than candid business man is doing.

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  3. We told ECL to Dialogue with Vedanta and Agree on the Sale of Vedanta Shareholding in KCM. Whichever way u look at it. Vedanta will happily walk away from KCM with its Reputation intact and smiling to the Bank. Zambia will have to silently pay out Damages and Compensation to Vedanta at a Premium. There is more to this than what meets the eye.

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  4. Wonders never cease. Why would Anil like to continue running and reinvest in an unprofitable venture like KCM. Something does not meet the eye here. All along we were made to believe they were not meeting their obligations due to the unprofitability of the mines and now they want to meet their obligations and pump in more money. Help me to make sense out of this charade.

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    • These are the questions that need to be asked by those who are really fair about this saga. Those against the Govt of ECL will continue to condemn the move.

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    • And the minerals under our soil will remain until a better investor comes along. You’re the chaps that would entertain the idea of a wife swap.

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  5. No sane person can trust Agarwal, let alone do business with him especially after he embarrassed Mwanawasa. He boasted that he came with an empty briefcase and duped LPM. Does he think anyone can treat him seriously after that? The problem is that when it comes to money most Indians are not honest. So I can safely conclude that no brown envelopes exchanged hands

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    • Ayatollah:
      You are so gullible with your brains like that of lice or mice. Of course no brown envelope was exchanged between Argawal and Lungu BECAUSE Lungu got bigger brown envelopes from the Chinese!
      You are so shallow minded that you cant even see the bigger picture and in context which is typical shortsightedness of a PF Cadre!

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    • @Chilyata, I didn’t comment about Lungu, I only talked about the Indian. If the Indian thought he’d buy Lungu out then he must be out of his mind. And that’s the point I put forward. So what’s wrong with my statement? The problem with supporters of the Freemason is that the only sensible comment is one that insults and admonishes Lungu. I am not a PF cadre, but between Lungu and the Freemason I would rather have none of them

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  6. I quote: “At the meeting Mr. Argawal expressing his desire to continue running the mine and among other things to pay the debt owed to contractors and suppliers and to reinvest in the mine and restructure the shareholding of KCM.”
    This is the company that was making loses and loses according to what we were meant to believe. Its crookery at its worst.
    Again better say we listened to jerabos and not people of Zambia. Which people of Zambia. Lets not use people of Zambia when we dont actually listen to the people of Zambia over corruption by ministers and other state officials. Lelo ati we listen to the people of Zambia.
    Disaster!!!!

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  7. Since when does Lungu care what Zambians say… And now he says he is backed by Zambian people.

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  8. Where was the meeting held? Was it suppose to be confidential especially that the KCM saga is in public domain? Or Anil sensed that he is ‘officially’ a persona non grata in Zambia.

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  9. ECL has everything under control. Zambia has enough food reserves. You can go to FRA and verify for yourselves. Government is working around the clock to ensure that hunger stricken areas are provided with free mealie meal, Kapenta, Beans, Soyabeans, Salt,Sugar, Rice,Milk and game meat from hippos and elephants that will be slaughtered to control animal population in game parks.
    HH and his minions want to display to the western world that the country has been hit badly by hunger.If HH means well for his people let him slaughter 1000 cows so that he distributes free beef to the hungry people of southern province. Let him give each family 3bags of maize, 1 bag of Kapenta, 1 bag of beans, 1goat and 5litres of cooking oil, 25kg sugar,10kg salt and 500 kwacha cool cash per family. But his…

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  10. Mr chilyata plz respect other contributors with a different opinion. Its not necessary to give away ones psycho status on a public platform. Dont use sewer language on others even if a sewer mind and mouth is all we might have.

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    • Thanks for the comment but please don’t worry about the likes of Chilyata, it’s in their nature to insult. Just insult Edgar you will see how the whole Freemason Party will be jubilant to the extent of experiencing an orgasm! Before the post is pulled out you’d have received 101 thumbs up

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  11. Congratulations to President Lungu and Businessman Argawal for displaying bravery and courage to meet each other over the KCM issue. Certain zealous individuals are misleading the President is painting Argawal completely black. At the same time, certain individuals are misleading Argawal by misrepresenting any shortcomings at the KCM. This meeting is a historic moment. It is the beginning of a long journey to finding solution. Stability and market confidence must not be disturbed by selfish people.

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  12. Good corporate governance requires fairness,transparency,and high integrety,hence what President Lungu did to meet this crook is good.It is better to tell unhonesty person about your decision face to face to shame him.This Indian man has been claiming to be making loses ever since he bought KCM for a song,hence why is he still clinging to unprofitable entity?This should be an eye openner to all politicians who believe lies from fake investors who are good for nothing!!They claim to be making losses daily to avoid paying correct taxes when in fact they make billions of dollars year in,year out!!!INDEED ZAMBIANS HAVE SPOKEN ABOUT THIS ISSUE,SO THAT GREEDY INDIAN MAN CANNOT GET KCM BACK-NEVER!!If that happens,PF will lose terribly in 2021 on the copperbelt because residents there are fed up…

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  13. APA PEVE BOMA IKOSE!!
    That “@nal argawalala” has been crying whilst wobbling his head – “I’m making loss from Mine”.
    If you have been making a loss, why have you continued grovelling? Surely I would be skipping with joy, if someone decided to relieve me of a loss making venture, that continually tied me down. Problem na @nal argawalala is he had such low expectations of Africans.
    He would NOT conduct himself this way, had he been mining in Chile, or Australia.
    Problem now is can we be confident the Don of Corruption ba Jona Whiskey will be transparent in his dealings with the prospective new owners, or will he arm twist them to fund his P.F campaigns thereby getting us another poor deal?
    THE JURY IS OUT!

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  14. I’m pretty sure the Vedanta boss had one of those spy pens or personal folders which record conversations in high quality audio.
    Enough evidence was gathered for presentation to the arbitration court.
    Another ZAMTEL debacle in the making.

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  15. President Lungu meeting this Indian was a very very good thing, the only thing ower President would have done is to ask this Indian to pay debt owed to contractors and suppliers before any other meeting so that we would have recorved something from this smart criminal.

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  16. Africans should deal with Africans first. India and Indians are no friend to Africans. That is the reason the Chinese do not like Indians. They Chinese are better trading partners than Indians will ever be. It is time we stayed awake and only see green, all these leeches should only come to Africa if the sign up to employ 75% to 85% Africans. Their directors should also have a 1/3 rd African representation minimum. It is high time we realized this. All Zambians should be behind the government on this one, rich and poor, male and female.

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  17. I SUPPORT THE PRESIDENT. BUT LET THIS BE A GOOD LESSON TO LEARN FROM. NEVER SALE ANY ITEM WITHOUT UNDERSTANDING THE TERMS THAT WILL GOVERN DISSOLUTION.

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  18. At the meeting Mr. Argawal expressing his desire to continue running the mine and among other things to pay the debt owed to contractors and suppliers and to reinvest in the mine and restructure the shareholding of KCM.

    There you are, Argawal has given enough evidence to incriminate himself that he has defaulted on his obligations as per licence conditions. I hope Isaac Chipampe recorded this fuuul making that statement. And I hope the South African judge has taken note of this.
    And if he defaulted so much and did not want to pay suppliers and contractors, why does he want to pay today? The basttard even opposed the winding up petition, which suggests that he thinks we are all fyuuls.

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  19. The next company that should looked into is Avic. This Chinese company has been stealing from the local contractors by refusing the companies to supply there own concrete of which avic sales at double the price. And also simple mathematics doesn’t add up when they say 20% goes to local companies. Let the auditor general audit Avic to show if honestly the 20% is genuinely given to local companies. The government has truly let the locals down and it’s a pity the opposition parties are not interested in giving the checks and balances but only busy wanting to rule. How can anyone rule before defending the zambians.

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