Opposition Socialist Party President, Fred M’membe, has called on President Hakainde Hichilema and his administration to provide a comprehensive update on the situation at Konkola Copper Mines, KCM, following its return to Vedanta Resources Limited.
Vedanta was given back the running of KCM in September 2023, and announced a one billion United States dollars additional investment for the next five years, but to date the mine remains unoperational.
Dr. M’membe has therefore expressed concern over what he called lack of operations and increasing job losses in Chingola since Vedanta resumed control of KCM last September.
He alleged that mine contractors have been laying off employees due to diminishing operations, leading to significant unemployment and hardship in the region.
Dr. M’membe said this is despite previous assurances by government that Vedanta would recapitalize the mine and resume operations by the end of last year.
He said in a statement issued in Lusaka today that nearly a year later, however, there is still no productivity at KCM, describing the situation as a socio-economic disaster in Chingola.
Dr. M’membe questioned government’s optimism regarding Vedanta’s ability to revitalize KCM, given what he called company’s financial difficulties over the past three years and their attempts to raise capital on the markets.
By Eva Hatontola
