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Wednesday, September 21, 2022

Zambia risk failing to meet Copper Production Target if issues around mines are not resolved quickly

Headlines Zambia risk failing to meet Copper Production Target if issues around mines...

Green Party President Peter Sinkamba has said that Zambia risks failing to meet its set production targets in the mining industry if the challenges facing the sector are not immediately addressed.

Mr. Sinkamba said that the government resolving issues with Vedanta Resources around Konkola Copper Mines and getting an equity partner for Mopani Copper Mines is cardinal to Zambia meeting its target to produce 3 million metric tonnes of Copper annually in the future.

Mr. Sinkamba regretted that many other mining firms are either not in production or producing very low quantities of Copper due to various challenges which require government attention.

Mr Sinkamba has since called on Government to quickly resolve the issues surrounding operations at Konkola Copper Mines (KCM) outside the arbitration process in order to boost production at the mine.

Mr. Sinkamba said that it is important that Vedanta Resources is given back the asset so that it can inject over US$1.5 billion into KCM’s operations, noting that production at the mine has reduced significantly hence the need to resolve this issue as soon as possible.

“As Green Party, we think it is very important for the government to move in very quickly to resolve the KCM issues as well as the Mopani Copper Mines issues. We have noted that copper production has reduced significantly. We were supposed to have hit somewhere around 1 million tonnes per annum starting from this year. But instead, we’ve been reaching the 800,000 metric tonnes that we achieved in 2020. We have gone down almost 700,000 metric tonnes so we really have to work extra hard to get these issues resolved,” he said.

“Number one focus KCM view has been that there is a need for government to sit down with Vedanta as soon as possible, resolve the issues outside court, outside the arbitration process, and then we will move on as a nation and allow them to inject the $1.5 billion in the production.”

He since urged the government to quickly resolve the KCM and Mopani issues as soon as possible so as to bring a little bit of liquidity in the economy, especially on the Copperbelt and offer some profits

7 COMMENTS

  1. Now ………..

    This topic is worthy of discussion on LT…….

    Not matters of homosexuality and flags that the PF want to concentrate on………???

    • @Spaka, sometimes you write sense mwee.
      But let me guide that Marijuana dealer. Iwe Peter, KCM is not Zambia. Zambia has no mines, they were sold off.
      So don’t say “Zambia risks….”

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  2. Some of party leaders they have absolutely no clue what their parties are supposed to stand I mean this chap represents Green Party increased production of copper and mining activities is the last thing he should be championing…if he really had Green creditials.

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    • Spaka – He is a President of Green Party, do you not know what you should expect him to champion? Mining is inherently unsustainable…anyone with Green creditials would not even dare to encourage increasing production. This has nothing to do with where Zambia derives a chunk of it GDP….I am alluding to Peter Sinkamba as someone who stands on a Green ticket.

  3. “As Green Party, we think it is very important for the government to move in very quickly to resolve the KCM issues as well as the Mopani Copper Mines issues. We have noted that copper production has reduced significantly….”
    Really laughable …this chap is no different to Fred the socialists …these chaps just pick all tags like Green Party and Socialist just for their selfish personal interests.

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