‘ State on right track over KCM’

THE manner in which Government is handling the Konkola Copper Mines (KCM) takeover by another investor is on the right trajectory, a mining expert has observed.

Mr Edward Simukonda said he was pleased that Govern

ment was taking all precautions to find the best investor to takeover KCM, be it a local or foreigner that would manage the company well.

Mr Simukonda said he was aware that Government did not want to rush to engage an investor but was being cautious to ensure success of the process.

He said in an interview yesterday that Government wanted to engage a lifetime partner that would not let them down in the short term.

“They want a situation like it was with Anglo America that worked with Government for a long time before even some of us were born. So that is kind of angle they are looking at.

“So this is where they are in bringing in investment at KCM, I think this is the right decision because even Zambians do not need an investor who only want to come and wipe out minerals and then leave them in the cold after just a few years,” Mr Simukonda said.

Mr Simukonda said it was important that Government had optimum time to identify a lifetime investor that would put the interest of the country first.

Recently, the Ministry of Mines Permanent Secretary, Barnaby Mulenga, said the liquidator had talks with various interested investors that wanted to take over operations of the giant mining company.

Mr Mulenga said once the court case between Government and Vedanta Resources was concluded, it would identify a suitable equity

partner that would manage the operations of the mine well.