Saturday, June 15, 2024

Government to announce new KCM investor soon


Government says it will in the next few days announce the new investor to take over operations at Mopani Copper Mine.

Speaking at a media briefing in Lusaka, Mines and Minerals Development Minister, Paul Kabuswe said the matter has reached its conclusion and that government was negotiating for a better deal that puts Zambians at the centre of negotiations.

The Minister explained that the UPND administration took time to deliberate over the matter involving Mopani so as to address all the teething issues surrounding the mine before reaching a concrete decision.

Mr. Kabuswe also announced that only one important issue remains to be resolved in the Konkola Copper Mines KCM matter before a consensus could be reached with the mine’s Majority shareholders Vedanta Resources.

The Minister hoped that the KCM matter could be resolved at the end of this month.

Meanwhile Mine Unions such as the Mine Workers Union of Zambia (MUZ) through its President Joseph Chewe, the National Union of Miners and Allied Workers – NUMAW President Saul Simujika and the United Mine Workers Union of Zambia UMUZ President Wisdom Ngwira, have all commended government for the strides it has made in ensuring that controversial issues surrounding KCM and Mopani are resolved in.

The mine union leaders stated that the positive statements coming from the Zambian government have brought hope and excitement among the Zambian populace especially among the residents of the copperbelt.


  1. who soon is soon. we been waiting and can’t MUZ change its presidency. that man was just to aligned with the previous regime.

  2. The President took time to appoint his cabinet so that he appoints a good team that will help me deliver but look at what we got .Clueless people

    • Who created the mess to start with? Is it not the man you thought was the greatest thing to have happened to Zambia since the advent of the internet? Edgar Lungu allowed Eric Silwamba not only to sit on the ZCCM-IH board but also to chair it while his law firm was a legal advisor to one of the mining companies. Who does that if they want to be taken seriously by right-thinking members of society?

  3. No one really cares about such apart from those at the top who have a lot to gain from corrupt practices. The only announcement the people care about or want is about their human LGBT rights. Can all donor aid stop to zmabia until they respect gays. Send aid directly to us who respect LGBTs rights.

  4. New investor? How did you eliminate Vedanta? Everyone thought there’s a legal implication concerning the Vedanta company.

  5. Making deals to feel their pockets first….this is bread and butter for HH and his Bandit Ministers…..

  6. How many times are we going to hear this. Jesus said he was coming “soon” over 2000 years ago. Is this the kind of soon we are being promised? HH has already sold the mines to the highest bidder. Kabuswe is just headless chicken who has no idea what HH promised the mining foreigners when they were funding him while in opposition.

  7. its a welcome move by the new dawn government,in your negotiation please include sponsorship to football clubs as this will help the revamp the economy.

  8. Reuters reports that the shortlisted companies to buy Mopani are: China’s Zijin Mining and Norinco Group, South Africa’s Sibanye Stillwater and an investment vehicle owned by ex-Glencore officials.

  9. Kabuswe should learn to keep quite. The best he can do is to wait until everything is finalized and then make the announcement. He is just making himself an empty tin, making noise for nothing. People have stopped taking Kabuswe seriously.

Comments are closed.

Read more

Local News

Discover more from Lusaka Times-Zambia's Leading Online News Site -

Subscribe now to keep reading and get access to the full archive.

Continue reading