Chingola/Chililabombwe Community Demands End to KCM Debt Talks

The Vedanta Must Return Community Campaign Movement (Chingola/Chililabombwe) is urging a swift conclusion to the ongoing process of resolving Konkola Copper Mines’ (KCM) debts. The community members believe this is essential for the well-being of their towns.

According to a court order issued by the Lusaka High Court, creditors of KCM are scheduled to meet this month to discuss a resolution for the outstanding debts. 

Chishala Mwamba, the Movement Coordinator, emphasizes their hope that this will be the final month of negotiations.

“We expect no further delay,” Mr. Mwamba states. “This issue has dragged on for years, and it’s time to see it concluded. The people of Chingola and Chililabombwe have suffered for too long.”

The community highlights the hardships they’ve endured due to the protracted KCM situation. Rising fuel prices, increased electricity tariffs, and persistent load shedding have exacerbated unemployment and poverty in the region.

“Mining is the lifeblood of our economies,” Mr. Mwamba explains. “Without a functioning KCM, there’s little left for Chingola and Chililabombwe to thrive on.”

The Movement expresses confidence in Vedanta’s financial capability to recapitalize KCM. They believe the only obstacle is the extended scheme of arrangement process.

“Vedanta has pledged over $1 billion for KCM’s revival, along with significant funds for contractors, social programs, and salary increases,” Mr. Mwamba details. “We’ve never seen such a commitment from an investor. That’s why concluding this process is so crucial.”

Given the dire circumstances faced by the community, the Movement urges all creditors to endorse the scheme of arrangement during the upcoming meetings. 

Mr. Mwamba believes that a swift resolution is essential to alleviate the suffering of countless residents.