Mon. Sep 23rd, 2019

Vedanta case is a court matter-Musukwa

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By ALICE NACHILEMBE
Mines Minister Richard Musukwa says the fiasco about Konkola Copper Mines (KCM) is a subject of the court process.

Mr Musukwa said as a government of laws it is inclined to allow the due process of the law to take its course.

He said that Vedenta story is an isolated case in which government was dealing with a company that has broken the law with impunity for several years and that it had to act to protect national dignity.

Mr Musukwa said government is willing to listen to any progress talks that structures a user friendly exit mode for Vedenta.

He said that it is now in public domain that it has extensively lost the social Licence to operate in the communities of Chililabombwe and Chingola.

The Minister was speaking at a news conference held at his base in New Delhi as he wooed a number of credible Indian businessmen interested in various investment opportunities in Zambia.

Mr Musukwa said the marriage has irretrievable broken down the decision to liquidate KCM was premised on securing the company from total collapse and protecting the jobs of our people.

He said Vedenta had in principle walked away owing to the negligence as evidenced by its inability to exploit and develop its primary sources and payment of contractors and suppliers and other obligations.

The Minister said Government is determined once the court processes are concluded to urgently secure a credible investor in an open and transparent manner.

“With the capacity to inject fresh capital to operational use the KDMP project and both underground and upper orebody resources which we believe have huge life line which will in turn provide job security and transformation of our host community’s interns of infrastructure such as roads health and education,” he said.

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