The Zambians for Unity, Peace and Development (ZUPED) are happy and excited over the progress made by the government towards handing over Konkola Copper Mines back to Vedanta Resources on 29th December.
ZUPED President Ronnie Jere says his organization is happy that come January 2024, KCM will be productive once Vedanta Resources takes over its operations.
“We are happy and are looking forward to January 2024 when the government had promised that by that time, Vedanta would have taken over operations at KCM. This is good progress and we are hoping that all the loose ends will be tied before January 1, 2024,” said Jere.
“Zambians are waiting for Vedanta Resources to take over the operations at KCM so that all the promises made by the investor will be fulfilled. For example, Vedanta has promised to inject over US$1 billion; it has also committed to paying suppliers and contractors their dues by making available US$250 million, and the corporate social responsibility program funding amounts to US$20 million.”
He said once the investor takes over KCM, the nation will see increased funding for areas such as sports, agriculture, education, empowerment, health, and other key sectors.
Jere indicated that the workers at KCM are looking forward to having a salary increment as promised by Vedanta when it takes over, as well as the K2500 once-off payment.
He said the country will also benefit as the economy will boost following the increased copper production at the mining firm under Vedanta.
“We are currently witnessing the depreciation of the kwacha against major convertible currencies, and one of the solutions to that problem lies in revamping the mining sector. We are confident that once KCM and Mopani Copper Mines become viable entities, copper production will increase, which will help us earn forex as well as increase economic activities not only on the Copper Belt but throughout the country,” he added.
“Let’s start 2024 on a good note as a country by ensuring that all the loopholes in the mining sector are sealed. We are behind the government and Vedanta Resources, knowing too well that when KCM is productive once again, the nation will greatly benefit.”