Mines Minister Pushes For Quick Settlement With Vedanta Over KCM

Minister of Mines and Minerals Development Paul Kabuswe has urged ZCCM-IH to resolve issues surrounding Konkola Copper Mines with former owners Vedanta Resources as quickly as possible. 

Speaking to reporters in Lusaka on Tuesday, Kabuswe said the government could not wait for the scheduled court date in January 2023 and that the matter required urgent attention. He said the government wanted matters with Vednata resolved before next year in order to reassure the public and avoid speculation. 

In the past spokespeople for the government have repeatedly stated that it considers Vedanta to have lost its social licence to operate in Zambia following the mismanagement of KCM, which forced it into liquidation. 

Last month, KCM’s provisional liquidator Celine Nair said the mine was actively searching for a new investor to replace Vedanta. 

Ms Nair said the company would appoint an advisor to help find an equity investor willing to fund the mine’s expansion, including the $1.1 billion Konkola Deep Mining Project. She also announced that KCM would be resuming operations at its open pit in Chingola.