Vedanta eager to revamp KCM asset, says NUMAW

NATIONAL Union for Miners and Allied Workers (NUMAW) president Saul Simujika says Vedanta Resources is eager to bring Konkola Copper Mines KCM to its feet.

Mr Simujika said the decision to inject the US$25 million was a clear sign that the investor wanted to ensure that the mine fully resume the operations.

In an interview, Mr Simujika said “Vedanta has indicated that they are positively wanting to take over the asset so that KCM gets back to normalcy.

“The bringing in of US$25 million might not go a long way but it’s enough to hold the asset together, look at the salary payment for workers and clearing debt for contractors.

What we have noted is that most contractors haven’t paid their workers, with that engagement what it means is that when they are paid even the communities are going to benefit because they have workers who live in Chingola and Chililabombwe,” Mr Simujika said.

And Mr Simujika called on the provisional liquidator to set the date as soon as possible so that KCM and its creditors can meet.

He said it was important that within this month all the court issues were addressed so that come month end Vedanta takes over the mine.

Meanwhile, the Advocates for National Development and Democracy (ANDD) Executive Director Samuel Banda, said he was thrilled with the commencement of funding of KCM by Vedanta-Konkola Copper Mines.

Mr Banda said the disbursement of US$25 Million for employee salaries, contract labour and other critical services needed to maintain the integrity of the asset is a welcome progressive development.

Mr Banda says this gives hope to the stakeholders in the mining industry and Zambians at large and should be commended by well - meaning Zambians.

He says Vedanta's Resources has demonstrated commitment and dedication towards maintaining the integrity of this important strategic mine and its assets.

The Zambians for Unity Peace and Development (ZUPED) president Ronnie Jere who was happy with the development urged the government to expedite the process by way of fully dealing with the scheme of arrangement so that Vedanta can fully take over the operations of KCM.

"We hope that the scheme of arrangement is before the courts of law and pray that the courts may help to expedite the process so that Vedanta can fully take over KCM. And that all the promises that they made could be fulfilled. We want to commend the government for closely working and monitoring together with other stakeholders to make sure that the mining sector is revamped in Zambia," Mr Jere said.