IMMINENT HANDOVER OF KCM TO VEDANTA RECEIVED WITH MIXED FEELINGS
IMMINENT HANDOVER OF KCM TO VEDANTA RECEIVED WITH MIXED FEELINGS
By Nonhlanhla Phuti
The imminent handover of Konkola Copper Mines -KCM- to Vedanta Resources by President Hakainde Hichilema has been received with mixed feelings by stakeholders in the mining industry.
President Hichilema is today expected to officially hand over KCM to Vedanta resources on the Copperbelt.
Reacting to this development, the Association of Mine Suppliers and Contractors has challenged Vedanta resources after the handover to prioritize paying owed suppliers and contractors, particularly those owed over US$1 million.
Association President Costa Mwaba has expressed concerns about the past experiences with KCM, where suppliers resorted to various measures to secure their payments, with only those owed below US$1 million being paid in full.
Mr. Mwaba says the association therefore hopes that the handover of KCM will guarantee full payments and prioritize local participation in the awarding of contracts.
Meanwhile, National Union for Miners and Allied Workers President Saul Simujika expects Vedanta resources as it maintains the current workforce to create new employment opportunities while prioritizing safety measures.
And mine expert Professor Peter Chileshe has emphasized the need for Vedanta to focus on increasing copper production, saying production levels have significantly reduced since Vedanta took over in 2004.
He says a rebuild is necessary to reach the previous capacity of 175,000 metric tons per year.
PHOENIX NEWS