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Chingola, the town an Investor is making $500 Million from KCM

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Chingola town with pot holesThis is Chingola town on the Copperbelt with pot-holes everywhere. The town hosts one of the World’s larges Copper Mine, Konkola Copper Mine. The owner last week boasted that he was making 500 Million dollars per year. A video released on Monday, May 13, 2014 shows Vedanta boss telling a large audience how he bought Konkola Copper Mines for just a give-away price 25 Million dollars.

Former Minister Ng’andu Magande has said the Owners of KCM had promised that they would work on the infrastructure in Chingola when they start making profits. Its now over 10 years and the town hosting the Mine is sad sight.

KCM last year even wanted to lay off over a thousand workers saying they were facing operational challenges.

Zambians are angry with a the disclosure in the video though KCM has been disputed it.

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