Copperbelt business executive, Jere, backs Vedanta takeover of Konkola Mines under strict conditions

George Jere, a Copperbelt Business Executive, plying his trade in the mining sector, says immediate action is needed to revamp the operations at Zambia’s Konkola Copper Mine (KCM).

Jere said as days go by, KCM assets are deteriorating, hence the need for a quick action to salvage the company before selling it for cheap.

“Vedanta Resources needs to be given back KCM with strict conditions, no other investor will accept taking over the liabilities,” he said in an interview in Ndola.

Jere, the immediate past Association of Mine Suppliers and Contractors (AMSC) president, said he couldn’t figure out why it has taken the United Party for National Development (UPND) more than one year to conclude the out of court settlement.

He said the mine asset risked being stripped off, adding that immediately coming into power, the UPND administration should have invited the Indian miner to continue running the mine, while ironing out encumbrances.

Jere, who is also a mine engineer, worked for more than 20 years in the mines, said the country needed to unlock KCM and other mines, if government is to achieve its dream of achieving three million tonnes of copper production in 10 years.

“From the look of things, the three million tonnes of copper production we talk about will be difficult to attain given the circumstances the mining companies, especially on the Copperbelt are in, something needs to be done to unlock the difficulties the mines facing,” he said.

WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.