Tuesday, June 18, 2024

Future of KCM is uncertain because the government seems to be entertaining moves by Vedanta to come back

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THE future of KCM is uncertain because the government seems to be entertaining moves by Vedanta to come back, mining expert Edward Simukonda has advised.

Mr Simukonda said it was high time the Government turned its back on Vedanta so that a clear message was sent that this country did not need them anymore.

He said that worries by KCM workers on the future of the mining company were justified because the government had not been clear what plans they had for the mining firm.

Mr Simukonda said that his views regarding Vedanta would never change because the company showed the nation who they really were during the time they were in charge of the mine.

He said that if the government allowed Vedanta to come back that would be the biggest mistake this country could ever make.

“We know who these people are and why should we be entertaining them,” he said.

Mr Simukonda said that if the government wants investors to take over the running of the mine, then they should consider others and not the company that they already knew what they were capable of doing.

“There are a lot of investors out there who are interested in taking over KCM,” he said.

He said that there was no point in sticking to a company that had already stabbed this country in the back when there were hundreds of companies that were willing to invest in Zambia.

Mr. Simukonda said the manoeuvres that Vedanta was making like the statement that it was encouraged by the steps already taken by the government, including the appointment of the Green Economy and Environment Minister were all just ploys to get into good books with the government.

He said the pledges that Vedanta was making to support the Zambian government in its green energy transition goals was a scheme to try to entice the leaders to consider bringing them back.

Meanwhile, PF presidential aspiring candidate Chishimba Kambwili has said that allowing Vedanta back to run the Konkola Copper Mines (KCM) will be an insult to Zambians and the people of Chingola.

Mr Kambwili was reacting to Vedanta’s distribution of face masks in the mining town last week. Mr Kambwili wondered what the motive was for the company which no longer had ties with the mines to be distributing face masks. He said he was suspicious because as things stood, Vedanta was no longer the owners of KCM so what were they doing in Chingola?

Mr Kambwili warned the government not to go back to Vedanta because they were doing a disservice to Zambians. He said he suspected that some people had benefitted from Vedanta because he did not see any benefits when they almost starved the people of Chingola.

“People of Chingola deserve better and I believe beyond reasonable doubt that we can run our own mines with the attractive Copper prices that are being recorded,” he said.

He said that the president needed to investigate this because it seemed people had interests in the UK-based firm coming back.

Mr Kambwili said that he had observed that whenever Finance Minister Situmbeko Musokotwane was at the helm he brought in tax regimes that did not favour Zambians.

“During the Mwanawasa days, then Finance Minister Mr Musokotwane did the same and again he is at it. My plea is if the President is not involved then he needs to investigate the matter because there was something fishy about the whole thing,” he said.

He said if Vedanta had gone, why did they distribute face masks in the Copperbelt town if they did not have any interest coming back.

Mr Kambwili said there was no smoke without fire and that it was just a matter of time before Vedanta came back.

Mines Minister Paul Kabuswe said he could not comment on the matter and referred all queries to ZCCM-IH as they were the best people to give guidance over the matter.
“At the moment ZCCM-IH is the one handling this matter and I cannot give any statement over Vedanta,” Mr Kabuswe said.

17 COMMENTS

  1. Next stop, press conference by our president giving reasons why Vedanta has been allowed back. God forbid. Vedanta has screwed the country left, right and centre.

  2. Don’t let those indians back in………

    They are the worst investors………….

    Indians don’t care about you only ripping off the country………

  3. Though it may tarry, the truth is that Vedanta will come back because UPND went to bed with them prior to forming the govt. Remember the revelation of $300,000 donation from the mining firm. It was true though no one believed it.

    10
  4. Lets see if the HH administration can flex its muscles when it comes to mines, to set that country to a bright future. Blue prints are already there, but I doubt it. There is too much nepotism in his administration.

    Abo ipundu shiponena pamutwe tapatola nokulya.

    Post-independence era is coming to an end. Answerability Is here.

  5. Lets see if the HH administration can flex its muscles when it comes to mines, to set that country to a bright future. Blue prints are already there, but I doubt it. There is too much nepotism in his administration.

  6. Vedanta didn’t start with the distribution of face masks, there was a reported donation of $100,000 for campaigns. This is what we call image building. The decision has already been made. I ask the Bally government to be brave enough and state it clearly that Vedanta is back. Is this one of the difficult decisions that he talked about? This isn’t like the sale of companies in the 90s, it’s a different game all together. Jack Mwiimbu must buy good handcuffs and improve prison conditions.

  7. Vedanta’s fate will be determined by the courts, and indications are that they will come back. PF did not want to listen when they were told to do things according to the law. All they were interested in was stealing using their so called Liquidator.

  8. The CEO of UPND is the chief privertization officer and you expect anything better from him. The youths just needs to bless themselves.

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