UPND Praises Vedanta’s $250M Boost to Konkola Copper Mines

The Secretary General of UPND, Batuke Imenda praised Vedanta Resources, a London-based mining company, for arranging 250 million dollars for disbursement to Konkola Copper Mines creditors.

In a statement made on his Facebook page, Mr Imenda stated this will be a “huge injection into the economy,” and that it “adds impetus to the overall economic development of the country.”

According to the Secretary General, this is “confirmation” that the UPND government is “on course to fulfilling its party manifesto for economic development” through the revitalisation of the mines.

Vedanta announced last Friday that it had arranged 250 million U.S. dollars to pay small creditors of Konkola Copper Mines by 8 July of this year, following the High Court’s decision that was rendered on 28 June. The addition of this, as well as the over $1.2 million that was pumped into Mopani over three months ago, Mr Imenda says the “Copperbelt is on the move”.

The Secretary General said President Hichilema pledged that the government would remain steadfast on ensuring that Zambians get the full benefits of their natural resources. He also assured citizens that, through the various economic policies the party is implementing throughout the country, their future is secured. Finally, he urged the people to remain resolute as the government navigates the country out of drought-induced challenges of power.