Wednesday, June 19, 2024

Opposition Leader Howard Kunda Questions Government’s Decision to Return KCM to Vedanta

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Opposition Zambia Wake-Up Party (ZAWAPA) leader, Howard Kunda, has expressed his concerns regarding the Zambian Government’s decision to return Konkola Copper Mines (KCM) to Indian investor Vedanta.

During a media briefing held in Ndola, Mr. Kunda raised questions about Vedanta’s past management of KCM, citing neglect of miners, contractors, and suppliers. He argued that the Government should not have handed KCM back to Vedanta when Zambia has the capability to run its mines.

Mr. Kunda referenced the public demand, particularly from the people of Chingola and Zambia as a whole, to remove Vedanta from KCM due to alleged non-payment to suppliers and what was perceived as the company’s exploitation of the mine’s resources.

Vedanta has pledged to inject $1 billion into KCM over the next five years as part of its commitment to revitalizing the operations.

Mr. Kunda further questioned why Vedanta was allowed to retake control of KCM when, according to him, the company had previously failed to manage the mine and fulfill its promises to the Zambian people.

He emphasized President Hakainde Hichilema’s previous stance on Vedanta and foreign investors, in which he expressed mistrust in Vedanta’s ability to honor its obligations. Mr. Kunda called for clarity on why the government’s position had seemingly shifted since President Hichilema assumed office.

Additionally, Mr. Kunda urged the government to focus on enhancing food security in Zambia, as access to food has become a significant challenge for many citizens, exacerbated by high prices of mealie meal, fuel, and electricity.

25 COMMENTS

  1. In Zambia we like to experiment with the same things or make the same mistakes but expect different results. Mu chizungu, you call this 1nsan1ty

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  2. Does not understand the implications of……….

    When a company places nother export based company under international courts……..

  3. Please just put KCM on the Lusaka stock exchange. We can own it ourselves as Zambians. We’ll pay tax and be honest. Let the government be a minority shareholder.

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  4. when ECL and the PF were getting campaign funds from KCM, everybody was quiet. How come you are making noise today?

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  5. The answer is very simple. Court case was dragging on and on while the mines was quickly losing value.
    At all this time, the Owner was the VERDATOR. Whether you like them or nor or they poised the river, it was just the Hobson horse choose. It is important for Copperbelt to boom economically and other issues can be tackled as we go on while enjoying the horse ride whether we like the horse’s color or not, but a ride is a ride anyway.

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    • @Collins Teembo…With a mindset like yours, there’s no hope for Zambia, Evidently you don’t care that these Indians destroyed the environment by dumping toxic waste any kind of way. What you don’t realize is that it shows they don’t respect your government’s laws, or value you as a fellow human being. That’s why they can dump toxic waste in the Kafue river with impunity. Now you think they’ll do things differently this time. Ride on, empty head.

  6. ## gunner in zambia

    “former first lady esther lungu released from police custody”
    lusakatimes, september 7, 2023

    1. You fell short of reasoning when you said, i am yapping. If anything you are the one yapping here. I raised the following:

    a). The timing of arrest, then release her on a non-bailable case.
    b). Corruption fight becoming a joke, while HH is praised about it abroad
    c). Cabinet Ministers not happy with Vedanta’ s historical crimes.

    You should have based your argument to me on the above. Where did mention I corporate control? I am an investor and share holder in companies. I understand corporate control. Am I living in your head rent free? Let go of me, for your own peace of mind.

    • I love how @ INDEPENDENT OBSERVER gives haters food for thought without rage or or malice. Just straight into your soul………………………….

  7. gunner in zambia

    2. In all my years at lusakatimes, I’ve never degraded people i don’t agree with. I argue my views & still respect others. Degrading someone shows the world that you are cheap, and in a frustrated life. I get called worse things, I dont respond with an eye for an eye. Rather I take the high-road, not the dirty-down-road, cause no person can steal my peace. A heart filled with peace creates wonders. Liberate yourself ! When you allow people to live in your head, you give them power to control your emotions 24/7.

  8. @Mutulangoma
    Yes the crooked Vedanta is now busy asking for loans…..the truth is we’ve been fooled twice….last time Vedanta borrowed US$25 -million and he made US$ 1 billion profit….remember when he was mocking Zambia…why can’t we find a local investor to take over KCM

    • Nope he owes not g in partnership with anybody other than buzungus. He takes his cut and invests in buzungu ventures or simply stash money in farms in Australia, banks in Switzerland, Mauritius, Dubai.

  9. Worst deal of the century.. For sure never trust a politician for once.. Records are there HH had maintained he would never entertain Vedanta come back,alas.. only fooling the Zambian people.. What would this rogue investor do which it failed to do in the last 14 years whilst at KCM..????

  10. @Neo Patriot
    Definitely he has partnered Vedanta at that was the sticking point….they were just negotiating shares nothing to do with Zambian Government

  11. Constructive criticism demands that you state what is wrong and list what should have been done differently or better because you also have a responsibility to Zambia especially because you want our vote. Use the opportunity to state your case than complaining and placing more burdens o us. Leaders provide solutions

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