Mines Minister, Kabuswe, apologises for delay in concluding KCM, Mopani Copper Mine deal

Government has apologised for taking longer than promised to announce the new owners of Konkola Copper Mine (KCM) and Mopani Copper Mine (MCM) as it is ensuring that interests of Zambians are protected and not compromised.

This delay has been caused by the government’s desire and commitment to protect the interests of Zambians in the deal that would be entered into with any of the prospective investors, Mines and Mineral development Minister, Paul Kabuswe, said.

Kabuswe in an interview on Monday said government would rather apologise to the miners on the Copperbelt and Zambians in general for going beyond the first quarter without announcing the future of KCM and Mopani to protect the interest Zambians.

“We shall announce who will take over KCM and Mopani and we apologise for having taken longer than we had promised.

“But what is important is that even as we are negotiating, it is the desire of government to ensure the interests of Zambians are protected. On the protection of the interest of Zambians, we shall not compromise as the new dawn government,” he said.

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Government, he said, would not compromise the interests of Zambians by rushing into signing the deal on KCM and Mopani without doing the due diligence.

Kabuswe pointed out that it was also important for prospective investors that even as the negotiations were going on, it was Zambians who should be the beneficiaries in the deal.

He indicated that government would announce which investor would take over the KCM and Mopani but quickly mentioned that it would not do so at the whims of people harrying government without considering the interest of citizens.

“We would rather it takes long to resolve the challenges beyond the first quarter than rush into a quick deal that is going to leave citizens into more poverty and problems. So, we shall not please those who want us to announce a quick deal and when it fails, they should gain political capital out of it,” the minister said.

“If government was going to take months in coming up with a lasting solution on KCM and Mopani, it was because it wanted to make sure all the loose ends in the deal were tied to guard the welfare of Zambians,” Kabuswe said.

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