Breaking News

Chililabombwe and Chingola Communities Denounce Misleading Information Regarding Vedanta/KCM Agreement

The Chililabombwe Youth Graduates Club and the Vedanta Must Return Community Campaign Movement have jointly issued a press statement addressing concerns about misinformation surrounding the Vedanta/KCM agreement, expressing their disappointment in some members of parliament and certain media outlets.

Community members in Chililabombwe and Chingola have voiced their distress regarding what they describe as negative propaganda circulating in the media, and assertions made by some parliamentarians. 

These claims include the contention that the government did not enter into an agreement with Vedanta or that Vedanta lacks the financial capacity to revitalize KCM (Konkola Copper Mines).

The joint statement clarifies that the Minister of Mines had previously announced the return of Vedanta to KCM and affirmed that the deal was legally binding. The minister addressed speculations on the nature of the Vedanta/KCM agreement, emphasizing the complexity of the final draft prepared by the legal team.

The initial announcement of the agreement highlighted that Vedanta would take approximately three months to fully assume control. During this period, a new board and management team would be appointed, and all legal matters would be resolved.

The youth groups expressed their concern over some Members of Parliament, particularly Hon. Christopher Kang’ombe, MP, and Hon. Ronald Chitotela, MP, who have been criticized for engaging in what was described as propaganda. 

These parliamentarians have questioned Vedanta’s financial capacity to revive KCM. The joint statement countered these claims by citing the conditions of the agreement, which require Vedanta to recapitalize KCM, implying that the government would not have returned the asset if Vedanta lacked the financial capability to do so.

The statement also emphasized that Vedanta, as a substantial multinational corporation, would not seek investment in an asset it could not manage effectively. The community groups called for an end to the politics of misinformation, urging that the people of the Copperbelt deserve better leadership.

The groups acknowledged Vedanta’s commitments to the region and expressed their intent to support Vedanta’s return and the new partnership with the government.

The statement concluded by calling on media outlets and political players to refrain from making premature statements and to wait for the government to be held accountable after the three-month transitional period.

This information is contained in a joint statement issued by Alinuwila Singoyi, Graduates Club Chairperson and Chishala Mwamba, Movement Coordinator.

Leave a Reply

Your email address will not be published. Required fields are marked *