Government to consider views of residents when picking an investor for KCM

Filed under: Breaking News |

The Mine Workers Union of Zambia has advised government to consider the views of residents on the copperbelt who have opposed the engagement of a Chinese investor to take over operations at Konkola Copper Mines which has been placed under Liquidation.

China non-ferrous metal mining group, which has an US$1.1 billion investment in Chambishi Non-Ferrous Africa Corporation, has expressed interest in taking over operations of KCM.

Commenting on this development, Union General Secretary George Mumba explains that as a Union representing workers, they are looking for an investor who has the interest of workers and will invest in the mine unlike what Vedanta Resources Limited was doing in KCM.

On whether or not China Non-Ferrous Metal Mining Group is the ideal investor, Mr. Mumba emphasized that the views of people against chinese investment should not ignored because judging from past experiences, chinese investment has not benefitted local people.

He told Phoenix News that caution by those close to selection of a suitable investor to take over KCM must be taken to avoid regrets in future.

The Government of Zambia cited breaches of KCM’s operating license and its financial position as justification for its move to place the company in liquidation.

Phoenix FM News


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Start: 2019-07-01 End: 2019-07-31