Monday, 2 June 2014


By MacPherson Mukuka

The remarks by Vedanta Chairman Anil Agarwal have continued to receive mixed reactions from various sections of society.

Some reactions are calling on government to nationalize Konkola Copper Mine one of Africa’s largest producers of the diminishing natural resource and have prompted former special assistant to Late President Levy Mwanawasa in charge of policy, project implementation and monitoring Jack Kalala to speak out.

Mr. Kalala defended the sale of the Mine for 25million US dollars instead of the 400 Million US dollar price.

He urged the Zambian people to take to task the people who removed the windfall tax other than blaming late Mwanawasa.

Mr. Kalala further stated that at the time the windfall tax was been removed under the leadership of former President Rupiah Banda, the investors did not object to the tax but the manner it was be rolled out.

Meanwhile, Government also has revealed that KCM has more than 100 million US dollars overdue dates credit balance owed to its suppliers and contractors.

Mines, Minister Christopher Yaluma told a gathering in Lusaka yesterday that government will make sure Vedanta sticks to its commitment of settling the bills.

The Minister further mentioned that the Government will investigate the alleged sentiments made by Mr. Agarwal especially those touching on the company’s revenue and its profitability.

It was also disclosed in the meeting that Vedanta has up-to-date not complied with its commitment to inject 350 million US dollars into KCM as foreign direct investment.

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