President Hakainde Hichilema has clarified that government does not intend to give back Konkola Copper Mines (KCM) to Indian mining firm Vedanta Resources.
Speaking during a Press Conference at State House, monitored by the Zambian Business Times-ZBT, President Hichilema explained that government is looking for a solution for KCM so that the mine can contribute to the three million tonnes copper production which government has targeted.
He said government also wants Mopani Copper Mines (MCM) to return to full production in order to increase production, earn more revenue and employ more people in the mining sector so that all citizens can benefit from the mines.
“I have seen the media falsehoods that we want to give KCM back to Vedanta, that’s not true, we want to unlock KCM, it’s a Zambian asset and nothing should stand in the way so that the people of the Copperbelt and the people of Zambia can benefit. When KCM is unlocked, it benefits the people of Copperbelt, it benefits our citizens here, it benefits suppliers, it benefits revenue and foreign exchange income”, he said.
The President said the mining asset is being abused and government is determined to do what it takes to bring the asset back into production adding that no innuendo or court process will slow government down.
“That’s why you hear the noise on the liquidator of KCM because he was sitting in the way of resolving the KCM problems, Mopani we are very close, it’s an easier asset to unlock so we are getting there, soon you will hear the progress we have made. KCM is a bit complicated and it was made complicated by appointing liquidator who should not have been there in the first place”, the President said.
