We have not sold KCM to the Chinese – Mwila

Filed under: Breaking News |

Patriotic Front (PF) Secretary General Davies Mwila says the PF-led government has not sold Konkola Copper Mines (KCM) to a Chinese investor but that it is still waiting for the finalisation of the liquidation process which is in court.

Mwila was speaking during a mobilisation meeting in Chingola on June 28. Mwila who was on tour of Northwestern and Copperbelt Provinces also met senior PF branches in Chingola.

Mwila refuted claims that the Zambian government has sold KCM to the Chinese stating that the matter was still before the courts of law and that the mine would be sold out on an open tender after due court proceedings.

He further stressed government’s desire to put the interests of all workers and creditors first which was evidenced by the fact that KCM employees had continued receiving their monthly pay on time.

Meanwhile, PF media deputy director  Antonio Mwanza censured Vedanta which he claimed got $30 million as overdraft from Stanbic Bank in order to create a false impression that the company was operating at a loss when in fact not. 

Mwanza further said that Vedanta owners were guilty of externalizing profits to their respective countries a move which went against the Zambian government expectations.

And the SG regretted KCM’s abandonment of its  corporate social responsibility(CSR) as espoused in the development agreement thereby exerting enormous pressure on the government to do everything. 

Mwila reiterated the PF government’s commitment to improve the lives of the people of the Copperbelt and across the country. He also highlighted some of the infrastructure projects such as roads, schools, hospitals which the government was doing or the Copperbelt and the economic importance of the ongoing Copperbelt Investment Expo

He clarified on the issue of KCM with regard to the liquidation process and how beneficial it was to KCM employees and other creditors contrasting it to receivership in which workers and creditors risked losing out some of their dues.

Mwila cautioned both Chingola and Chililabombwe residents to be wary of some opposition leaders who are always bent on misleading people they consider to be gullible for political expediency purposes.


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