President Hakainde Hichilema has openly questioned the decision-making of his predecessor, Edgar Lungu, regarding the liquidation of Konkola Copper Mines (KCM), suggesting that Lungu might have been “dizzy” when he made the call. Speaking at the re-launch of KCM in Chililabombwe on the Copperbelt, Hichilema criticized the liquidation, stating that it was never a solution but rather exacerbated the mine’s problems.
“KCM is an asset that has gone through a lot. Somebody, whether they were dizzy or not, decided to put this mine into liquidation. That’s not what leaders do. You don’t exacerbate the problem; you find solutions,” Hichilema remarked, lamenting the challenges that the mine has faced under liquidation. He emphasized that his administration, even while in opposition, opposed the liquidation and has now worked to restore the mine to its rightful state.
Hichilema further highlighted the significance of KCM’s revival, expressing optimism about the mine’s future contributions to job creation and the country’s tax base. He urged Vedanta Resources, the investor now at the helm, to work closely with the local communities and deliver on their promises.
Vedanta Resources CEO Chris Griffith pledged to invest over one billion dollars to ensure KCM operates at full capacity, including investments in solar energy to mitigate electricity supply challenges. Mines Minister Paul Kabuswe hailed the handover as a crucial event for 2024, predicting that KCM’s revival could lead to the production of approximately 3 million metric tonnes of copper annually.
ZCCM-IH CEO Ndoba Vibetti also expressed gratitude to the government for fulfilling its promise to resuscitate KCM, marking a positive step forward for Zambia’s mining sector.