Africa-Press – Zambia. Golden Party Zambia (GPZ) President Jackson Silavwe has maintained that returning Vedanta Resources at Konkola Copper Mines is a national disaster. Mr Silavwe said the move by the UPND Government to return Vedanta at KCM is wrong and immoral.
Mr Silavwe recalled that Vedanta Chairman Anil Agarwal mocked Zambians that he was making huge sums of money out of KCM to a tune of K500 million plus and yet the company never paid taxes.
“Firstly we would like to call on the government to be clear and tell the Zambian people what exactly is happening at KCM. Secondly, the Zambian government should know that they are dealing with a company that is cash trapped,” he said.
“We know just a few days after government committed to giving them back the asset, they went to obtain a loan using KCM as collateral, that speaks volumes. And that money not all of it is coming to KCM because they are using that money to fund their operations around the world.”
The GPZ leader advised the government to find another investor that can run the mining company diligently. He said the economy of the Copperbelt is suffering because the mining companies are not working profitably at the moment.
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