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Alba Iulia
Saturday, May 15, 2021

Government to issue a comprehensive statement in Parliament in KCM liquidation process

Economy Government to issue a comprehensive statement in Parliament in KCM liquidation process

The Government has said that it will issue a comprehensive statement in Parliament regarding the liquidation of Konkola Copper Mines (KCM) after the court process.

Mines and Minerals Development Minister Hon. Richard Musukwa said that the next step will be dependent on the outcome of the court process.

Hon. Musukwa said that the current liquidator is working within the law adding that he is managing the affairs well by paying old and new debtors.

Hon. Musukwa said that Government has a strong case against Vedanta and will consider all legal options and that President Edgar Chagwa Lungu’s priority is to safeguard the plight of workers.

Hon. Musukwa also said that there are many investors that are interested in running the mine as soon as the due process of law is completed. adding that the action taken by Government was the only option at that time as it was in the best interest of the people of the Republic of Zambia in response to Nchanga MP Hon. Chilombo Chali during the Fifth Session of the Twelfth Assembly- Questions for Oral Answer Session Standing Order 30.

Hon. Chali wanted to know what the status of the liquidation process of KCM was, as of July, 2020, whether there is any arbitration process between Vedanta Resources and ZCCM-IH going on in South AFRICA and if so, what effect, if any, the outcome of the arbitration will have on the liquidation process in the Zambian courts of law.

And when the liquidation process is expected to be concluded

6 COMMENTS

  1. Richard Musukwa didn’t answer the questions. He was in Parliament but again he says he’ll issue a comprehensive statement in the same Parliament which doesn’t make sense. If he wasn’t ready he should have asked for more time than give an answer that isn’t an answer

  2. There lies the biggest scandal in Zambia, the liquidation of this mine. Scandals are already underway and all you Zambians give a blind eye to the happenings at KCM?

    The country is breeding money it does not have and you are making noise over what happened 20+ years ago. Stop the bleeding now and before death happens to the live cow and then do a post mortem of the dead carcasses after reviving the live one.

    It is just logic. This guy Lungu is hoodwinking you by creating confusion clouding you all with the privatisation story.

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  3. Statement after statement, rhetoric after rhetoric, isn’t this the same minister who a week earlier said the black mountain was safe for our youths just for the nation to needlessly loose 12 young lives a week later with no sanction whatever from his boss. Zambia was a promising country, I hope we have all learnt that elections should be serious business with proper scrutiny of those wishing to stand.

  4. How many statements do we get in parliament with the lives of the people growing poorer and poorer. Talking shop….

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