Sunday, April 21, 2024
HomeLocal NewsHICHILEMA ACCUSES PF OF HAVING MISMANAGED KCM

HICHILEMA ACCUSES PF OF HAVING MISMANAGED KCM

By OLIVER SAMBOKO 

President Hakainde Hichilema has accused the Patriotic Front (PF) of having appointed Milingo Lungu as Konkola Copper Mines (KCM) provisional liquidator to siphon money from the mining giant. 

President Hichilema has claimed the damage allegedly caused by the PF government to KCM was great but that his administration was doing everything possible to ensure the mine’s operations were revived and normalised so that it could contribute to cooper production output of the projected three million metric tonnes in 10 years. 

“At a time the mine was put in liquidation by the previous administration, there was no proper consultation and instead, they just dropped a friend there so that they can squeeze cash from the asset,” President Hichilema said. 

He said Mopani and KCM complications were as a result of the liquidation that was imposed on the mining giant, which was very unnecessary leading to the country paying for the wrong decision made by the PF administration. 

Addressing a press conference yesterday at State House, President Hichilema said KCM should not have been placed under liquidation but should instead have been restructured through management arrangement. 

He said those blaming his government for engaging Vedanta were doing so on uninformed complaint because at a time the mine was put in liquidation, it was owned by Vedanta and ZCCM-IH   

He said with the coming of the new Director of Public Prosecutions (DPP), Gilbert Phiri and Director General of the Anti-Corruption Commission (ACC) Tom Trever Shamakamba, the country was likely to see prosecution and conviction for all those who could have participated in the looting and siphoning of cash from the asset.

Mr Hichilema said KCM remained an important asset to Zambia and that the people of the Copperbelt should be patient as Government was working hard to finding a lasting solution to issue surrounding the operations of the mine. 

He said his government’s first priority in 2023 would be to unlock the mining sector adding that the first item on the agenda was resolving issues at KCM and Mopani. 

Mr Hichilema also said his administration was of the view that the best way to resolve challenges surrounding KCM was an out of court settlement as opposed to the decision by the previous government who chose litigation. 

“My administration realised that we cannot do business in court but in the boardroom by agreeing with Vedanta to suspend litigation,” the Head of State said. 

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments

Observer. on SEX PILLS IN WATER
Dr. I.P.A. Manning on THE BAN OF POACHERS IN ZAMBIA
Lulumbi on EXPENSIVE WORSHIP
Patrick Bwalya on THE ALEX CHOLA FACT-FILE
Patrick BWALYA on DRIVER HACKED, LEFT FOR DEAD