….people are expecting Vedanta to fully take over KCM before end of this June, says ANDD

The Advocates for National Development and Democracy (ANDD) says Zambians cannot wait to see a fully functional Konkola Copper Mines Plc after exhausting all the modalities for Vedanta Resources to take over the operations of the mine.

The organization says the people of the Copperbelt and the nation at large, are expecting that Vedanta Resources will fully take over the running of KCM before the end of this month, June.

ANDD Executive Director Samuel Banda says following the overwhelming support from KCM creditors to support the scheme of arrangement which was the last part of the transition process, the people want to see KCM running effectively and efficiently.

“Stakeholders in the mining sector, suppliers and contractors as well as employees at KCM are highly expectant that Government will handover KCM to Vedanta Resources so that they can have business opportunities while workers can have their working conditions improved. Graduates are also looking forward to getting jobs at KCM. The general populace especially the people of Copperbelt are highly expectant that Government will handover KCM back to Vedanta Resources especially after the serious recent progress made regarding the successful outcome of the creditors meeting which were held on the 24th and 30th were the creditors overwhelmingly supported the scheme of arrangement which was the last component to the KCM – Vedanta transition process,” he said.

“As ANDD just like many Zambians are equally expectant to see government fully handover KCM to Vedanta Resources so that the investor can begin to implement it’s strategic commitments among the commitments as reviewed by Vedanta Corporate Communications Director Masuzyo Nhlovu of over US$1.1 billion for mine recapitalization, US$20 million for corporate social responsibility CSR programmes. The US$20 million will go a long way in helping the communities in areas such as health, education, agriculture, sports among others.”

He emphasized that once KCM begin to operate fully, a lot of employment opportunities will be created at the mine.

“We want to state that when KCM gets to operate fully, more jobs will be created, more business opportunities will be created, Commerce and Trade will be promoted, our local currency will begin to appreciate due to increase in copper production and it will be easy from the government to achieve its 3 million metric tonnes of copper production per annum by 2031,” he added.

“As ANDD we are optimistic that Vedanta Resources will resuscitate KCM and contribute positively to our national social economic development holistically.”

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