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Mine workers Union of Zambia (MUZ) says it is regrettable that government has once again failed to announce the new owners of Konkola Copper Mines (KCM) and Mopani Copper Mines (KCM).
MUZ general secretary, George Mumba, regretted that this was despite assuring miners and other stakeholders in the mining sector that the new owners of the two giant miners would be unveiled by end of last month.
“The failure to fulfil many promises and assurances regarding finding investors to recapitalise KCM and Mopani was now making miners to lose confidence in government in general and the Minister of Mines in particular,” Mumba said in an exclusive interview with Zambia Monitor on Wednesday.
Mumba was reacting to government’s failure to announce the new owners of KCM and MCM on grounds that negotiations with prospective investors of the two mines were still on-going.
Read more: Mines Minister, Kabuswe, apologises for delay in concluding KCM, Mopani Copper Mine deal
Mines and Mineral Development Minister, Paul Kabuswe, on Monday said he was unable to announce the new owners of both KCM and MCM because the process of negotiations had not been conclusive.
A fortnight ago, Kabuswe informed the nation that government had given itself a deadline of July 31 to announce Vedanta Resources as the new owners of KCM as all but one condition had been agreed.
But Mumba stressed that whoever was involved in the negotiations to find an investor to recapitalise the two giant mines should know that the issue of the two mines was an urgent matter and should be treated as such.
He said while government was taking its time to find investors to recapitalise the mines, it should find money to inject in their operations or else the mines will shut down by themselves.
“The issue of KCM and MCM is not something to play around with, it is an urgent matter which needs to be treated with the urgency it deserves.
“So whoever was involved in the negotiations to find an investor to recapitalise the two giant mines must know that the issue of the two mines was an urgent matter and must be treated as such,” Mumba said.
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