Zambia Mines Minister takes aim at Konkola liquidation
Published: 21 Sep 21
Zambia's mines minister Paul Kabuswe on Monday criticised the previous administration's push to liquidate Vedanta's Konkola Copper Mines (KCM) unit, which sparked years of wrangling between the company and government.
Vedanta and the Zambian government have been in a legal dispute over the mine and smelter since May 2019 when Zambia, which owns 20% of KCM through state mining investment firm ZCCM-IH, handed control of the business to a liquidator.
Kabuswe's comments, made during a tour of the country's copperbelt, are a further indication that President Hichilema's five-week-old administration will seek to roll back state involvement in the mining sector, the engine of Zambia's economy.