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KCM LIQUIDATION FINAL – LUNGU

PRESIDENT Edgar Lungu says the decision taken by government to liquidate Konkola Copper Mines (KCM) is final and has assured Zambians that the giant mining firm will be kept afloat whilst looking for a suitable investor.

President Lungu said that government was determined to finish the liquidation process because that is what the Zambian people want.

Speaking when he arrived at the Simon Mwansa Kapwepwe International Airport on Tuesday, Lungu saidpeople in the Copperbelt do not want the owners of KCM Vedanta to continue operating the mining firm because they had filed to run it smoothly.

“This is not my decision alone, but the people and I will not abandon you on KCM,” he said.

The Head of State said investors who had shown interest in KCM would be questioned and scrutined by a team of experts.

He said is aware of the suffering that the liquidation process had brought on the people of Zambia but that he is resolved to ensure that the messy at the mines are sorted out.

Last month, government through its shareholder the Zambia Consolidated Copper Mines (zccm)-ih sought a court order from the Lusaka High Court to liquidate Konkola Copper Mines (KCM) on account that it has failed to run the mine in addition to the huge debts they owe sub-contractors and other utilities.

ZCCM-IH has since appointed Lusaka Lawyer Milingo Lungu has the provisional liquidator.

Meanwhile, Vedanta has threated to sue the Zambian government for what they call breach of agreement.


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