Vedanta Resources has denied allegations that it is involved in acts of sabotage at Konkola Copper Mines.
In a statement, Vedanta Resources said the allegations are baseless.
“Vedanta wishes to respond to allegations currently making the rounds in the Zambian media – implying Vedanta’s involvement in certain problems being experienced at KCM’s operations. Vedanta denies these allegations, reportedly made by members of the Government of Zambia,” it said.
“Vedanta would like to point out that it has not had access to any KCM operational site or office, nor has it been able to contact KCM staff, for over three weeks – since the appointment of the Provisional Liquidator for KCM. Vedanta has, from the outset of what it feels is an unfair and unjust process, been deeply concerned about the very real risks posed by the ex parte Provisional Liquidator appointment and winding-up process to KCM, its operations, employees and local communities.”
“With those concerns in mind, Vedanta wrote to the Provisional Liquidator on 31 May 2019, flagging a number of areas of concern. These included the need to maintain security to ensure asset theft did not occur, and the risk to operational infrastructure should assets stand idle or underground water pumping cease.”
It said given the allegations, Vedanta has been trying to contact the Provisional Liquidator to discuss these concerns, as well as to request an update on the current status of KCM’s operations as a whole.
“Vedanta would urge the Provisional Liquidator and the Government of Zambia to engage with us, in the best interests of all stakeholders involved. Vedanta wants to make it clear that it would never – under any circumstances – involve itself in nor countenance the “sabotage” of any mining or processing operation.”
It said it is absolutely committed to resolving the current situation using all available means and urges the Government of Zambia, ZCCM-IH and the Provisional Liquidator to take the same approach.
Then how did the often repeated lie that HH sold and profitted from privatization of the mines gain traction? He didn’t have access also.
LT too many poop ups and adverts on your way website – Got to work on that.
Thanks
BB2024,2016
Mzambia Wazamani #1
You must be the most dull person to ask that question.
The Zambian Govt should accept Vedanta’s Olive Branch for Dialogue among GRZ, ZCCM- IN and Vedanta to resolve this issue as provided in the KCM Shareholders Agreement. The Govt has failed to follow Legal Liquidation Procedures and has ignored the KCM Shareholders Agreement. If this Shareholders Dispute ends up at the International Arbitration Court the Zambian Govt will not only be embarrassed but will be forced to pay Damages and Compensation to Vedanta. A prolonged legal Battle will affect Foreign Exchange Inflows from the Mining Sector and Foreign Investor Confidence in Zambia will decline. This will affect Zambia’s Debt Crisis. The writing is on the Wall.
I totally agree. I think it is becoming increasingly clear that the whole battle was underestimated. The President should not have listened to the old folks like Francis Kabunda. This is where the Head of State got it all wrong. Government can’t run mines bane. Yes Vedanta did not do all things right but divorcing a wife with whom you have got children to bring in a barren girlfriend can be more disastrous. In the current circumstances, no credible investor will come in. Any investor will struggle to secure funding to come into something that is in Court. Chinese could come in but we don’t have may examples of meaningful Chinese Investment in the Zambian Mining Sector.
Olive Branch for who? We refuse. We have been turning the other cheek for way too long. Now that their back is against the wall, they start all sorts of bizarre tactics to complicate the liquidation process and delay their departure… send them out GRZ!
Don’t develop cold feet! This is the right move. The only snag is the caliber of the characters appointed to spearhead the process.
I was called a coward here when I said let the government prepare there best lawyers vedanta won’t go with out a fight
We don’t expect you to admit it. However I am not saying you did or you didn’t.
Vedanta, go away you scrap metal dealers.
Blind and dangerous actions by the PF always end up hurting Zambia.
Look at ZAMTEL.The company is now forever cursed with $350million debt to LAPGREEN.No right thinking investor can put money in that company.
The Chinese and Russians who disregard international law are Zambias only hope.In other words the country is doomed.
No where in the World will a Judge dissolve a Marriage without hearing both the Husband and Wife. KCM is a Marriage between the GRZ thru ZCCM-IH (20%) and VEDANTA (80%). There is no way a Court in Zambia can grant a Divorce without hearing VEDANTA, a majority Shareholder, in KCM for that matter. Even if GRZ manipulated this Case in the Zambian Courts VEDANTA will seek justice in International Courts becoz the KCM Shareholders Agreement provides for International Arbitration for Shareholders to resolve their Disputes. GRZ will have no influence on the International Arbitrator and since GRZ Breached Liquidation Rules and Procedures and ignored the KCM Shareholders Agreement will lose the Case in an International Arbitration Court. The writing is on the Wall.
iwe chi musa….this is zed not Zimbabwe, go ask Mugabe why he chased white Zimbabweans. This Indian cooly owner was in the recent past mocking us , that we are s.t.upid and he was making $500million for himself every year,,,,,now he is claiming that the mine is not making any money????
Why is he trying to retain an asset that is draining their resources …..
let them go in peace. whatever they can yap, the decision has been made. If it happened to ZAMTEL and to King Fred the great and his Post,,,,who is this mwenye kashiiii!
Mwinsho vintu vyapantankana, vintu vyatama mwinsho.
Ba Kaonde baswamema.
Kafwako mwinsho…
Oh please, you have been sabotaging our right to mines wealth by underselling, stockpiling, underpricing, undermining suppliers, damaging our environment,………….for ages!!!
You can’t claim to be of pristine conduct now. We are not turning our back on you.
Vedanta have been avoiding taxes and not paying suppliers claiming that they are not making any profit. This excuse has been fronted for many years now. Little do these fools know that it is this statement which will bury then in an international court. If your operations are resulting in a loss, you can’t pay your statutory obligations and you can’t pay your suppliers, then you are insolvent. These fooooools have been admitting to their own insolvency thinking that they are being clever tax dodgers. Liquidation is how you treat an insolvent company. Bravo liml
I feel pity for the miners who were excited when the government took over KCM to find an investor who could take over KCM mines. I think the government acted with tantrums, boastful, without much reasoning, emotionally, basing some of the arguments on hearsay although the case or concerns were in favor of Zambia. The government should base the case on facts not on hearsay. To say Vendata was boasting that he bought the mine at 25 million dollars is immaterial regarding this case. The government has messed up, hence should find a good solution for the miners and families and for the country Zambia. The minister looks so stupid by announcing that Vendata is engaged in sabotage when Vendata has no access to the mine. This is a caliber of some of our honorable ministers we have.
To the Political Parties /President Sir /Mining Minister/ Common Man of Zambia
As a common man who has earlier worked in great Country Zambia and in Mining sector , I am absolutely aghast by the current events around Mining Industry and specially how unfairly KCM is being treated . Below text of few words is hence my effort to explain the educated lot of what is Mining Industry and how it works so that multiple wrong perception can be cleared – Zambia is a great country and it has to achieve more heights – with wonderful people and sensible bureaucrats its important hence to take care of this Industry and assist them grow further. Any harm now would have far reaching consequences specially to Copper Belt Town and civilization around it . It’s a request hence to take a step back ,…