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Posts tagged as “Konkola Copper Mines”

Mweetwa challenges ECL on KCM, Milingo

By CAROLINE NGWENGWE – CHIEF Government Spokesman Cornelius Mweetwa has challenged former President Edgar Lungu and his former administration to explain to the nation how former provisional liquidator of the Konkola Copper Mines (KCM) Milingo Lungu became a trader instead of carrying out and ensuring that an inventory of assets and debts was carried out.Mr […]

Economy on recovery path, assures Veep

By JAMES KUNDA – VICE-PRESIDENT W.K. Mutale-Nalumango has assured citizens that the country’s economy is on a path of recovery and soon, the nation will experience the positive impact of the Government’s interventions towards rebuilding the economy.And Ms Mutale- Nalumango has described the United Kwacha Alliance (UKA) as a PF reincarnation.Speaking when she featured on […]

Milingo Lungu drops case against State

By PERPETUAL SICHIKWENKWE – FORMER Konkola Copper Mines (KCM) Provisional Liquidator, Milingo Lungu has filed a notice to the Constitutional Court to discontinue a case in which he had sued the State challenging the Director of Public Prosecutions (DPP)’s decision to remove his immunity and prosecute him court on criminal chargesMr Lungu submitted before a […]

2023 unlocked mining sector

THE year 2023 is historic for Zambia’s mining sector in that this is the year when the various challenges were unlocked.Despite the year having been a turbulent one in terms of mining performance where the country is expected to field copper production of below 700,000 tonnes in 14 years, things are looking up because of […]

FQM in talks to offload Zambia mines’ stake to Jiangxi …as Vedanta says KCM workers’ bonuses on cards

By NAMWINGA MWINGA – VEDANTA Resources Limited has assured that bonuses for Konkola Copper Mines (KCM) workers will be paid once it takes full control of the mining giant.Vedanta Resources Zambia director corporate communications Masuzyo Ndhlovu said the scheme of arrangement was a court approved agreement between the company and its creditors.This also included the […]

Chingola residents weigh impact of Sensele disaster on economy

By JOWIT SALUSEKI – CHINGOLA, with its profusion of trees and flowers, is one of the most picturesque of Copperbelt towns.Founded in 1943, the town, which is synonymous with mining activities, is home to one of the biggest open-cast mines in Africa, the Konkola Copper Mines (KCM).Zambia Statistical Agency estimates from 2022 put Chingola’s population […]

Unlocking of Mopani, KCM cheers captains of industry

By KENNEDY MUPESENI – THE Zambia Chamber of Commerce and Industry (ZACCI) has said the revival of Mopani Copper Mines (MCM) and Konkola Copper Mines (KCM) will boost the economic prospects on the Copperbelt and beyond.Speaking during the Kitwe District Chamber of Commerce and Industry (KDCCI) Gala and Award Dinner on Friday evening, ZACCI president […]

KCM unlocked!

By JAMES KUNDA – THE official process of reversing the liquidation of Konkola Copper Mines (KCM) has commenced following the signing of the implementation and shareholding agreements between Vedanta Resources, the Zambia Consolidated Copper Mines Investment Holdings (ZCCM-IH) and the mining firm in Lusaka yesterday.All court cases between the Zambian Government and Vedanta will now […]

Don’t fire workers, KCM contractors told

By AGRIPPA CHANDA – THE Government has appealed to Suppliers and contractors at Konkola Copper Mines( KCM) not to lay off their workers as they await Vedanta Resources to resume operations after the three months transition period elapses.Last month, ZCCM-IH, Vedanta Resources and government reached an agreement allowing Vedanta to retain majority shareholding in running […]

2023 budget performance impressive

IT was a sunny Friday afternoon, but almost the entire populace was eager to listen to the 2024 National Budget presentation by Finance and National Planning Minister Situmbeko Musokotwane.Despite the scorching heat, many were glued to various media channels to get first hand pronouncements in the proposed budget, while those invited to Parliament, attentively followed […]

Stimulant budget anchored on pro-poor growth

DESCRIBED by many stakeholders as progressive, the 2024 National Budget will be anchored on stimulating economic growth to achieve improved livelihood as evidenced by the rise in allocations to key sectors of the economy.Finance and National Planning Minister Situmbeko Musokotwane unveiled the K177.9 billion budget last Friday.The proposed budget is more than K10 billion higher […]

All set for New Dawn’s 2024 National Budget today!

By JOSEPH BANDA – THE New Dawn’s economic performance and the reforms it is implementing to reform the economy will again come into national focus as Finance and National Planning Minister Situmbeko Musokotwane presents the 2024 national budget to parliament.The budget to be presented today comes on the heels of a preliminary debt restructuring agreement, […]

‘Lungu stole KCM’s $30m’

By PERPETUAL SICHIKWENKWE – THE National Prosecution Authority (NPA) has told the Economic and Financial Crimes Court (EFCC) that the purported US$30 million commission which was drawn by former Konkola Copper Mines (KCM) provisional liquidator Milingo Lungu and which was transferred to his law firm in August 2022, was a calculated scheme to steal, defraud […]

EIZ lauds return of Vedanta Resources

By CHATULA KANGALI – THE Engineering Institution of Zambia (EIZ) has welcomed government’s decision to reinstate Vedanta Resources as the major shareholder in Konkola Copper Mines (KCM).EIZ says KCM’s planned investment in new technologies will enhance the engineering industry in Zambia.EIZ public relations manager Ntalasha Mutale said in a statement that the agreement would create […]

Milingo Lungu in $90m saga

By PERPETUAL SICHINKWENKWE – FORMER Konkola Copper Mines (KCM) provisional liquidator Milingo Lungu and his close associates have been ordered to pay back a total of US$90 million within three business days, money he allegedly siphoned out of the mining giant during the period he served as liquidator.This is according to a letter of demand […]

‘Vedanta on radar’

By SHARON KALIMBULA – MINES and Minerals Development Minister, Paul Kabuswe has assured the public that Government will closely monitor operations at Konkola Copper Mines (KCM) and will not hesitate to take back the Vedanta Resources shares if it fails to honour obligations contained in the agreements. Read more

More stakeholders applaud Vedanta return

By JAMES KUNDA, KENNEDY MUPESENI and SYLVIA MWEETWA – MORE stakeholders including former Finance minister, Ng’andu Magande have welcomed the reinstatement of Vedanta Resources as majority shareholder of Konkola Copper Mines (KCM) and its commitm...

Invest in sports, Vedanta urged

By JAMES KUNDA – GOVERNMENT has urged Vedanta Resources to invest more resources in developing sports’ teams under the sponsorship of Konkola Copper Mines (KCM).Mines and Minerals Development Minister Paul Kabuswe said the government wanted to see the glory days of Nchanga Rangers, Konkola Blades and Nampundwe FC, among other sports clubs, return.Read more

Kudos to UPND Govt for KCM deal

TWO weeks ago mining mogul Anil Agarwal, who owns Vedanta Resources Limited issued a major statement that “money will never be a constraint” when he announced a come to running the financially beleaguered Konkola Copper Mines.Mr Agarwal announced a financial injection of around US$250million owed to suppliers in Zambia as soon as the company resumes […]