…but assures the investor will bring to the Copperbelt “bags” of money
By NATION REPORTER
PAUL Kabuswe yesterday told Parliament that should Vedanta Resources fail to put in money into Konkola Copper Mine (KCM) in the first year of taking up ownership of the giant mine, government shall not hesitate to ask the investor to leave.
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Mr Kabuswe, the Minister of Mines and Minerals Development has however assured Zambians that the return of Vedanta Resources Limited KCM will bring bags of money on the Copperbelt.
Responding to questions for clarifications after he made a ministerial statement on Vedanta in Parliament yesterday, Mr Kabuswe said within the first year, if Vedanta did not put in money, they will be asked to leave. But Speaker of National Assembly Nelly Mutti chipped in and asked if Vedanta shall literally bring into Zambia bags of money on the Copperbelt to which Mr Kabuswe said the money would be in the bank.
“There will be no waiting but to pay those who were owed by KCM immediately. Corporate Social Responsibility will also be undertaken and there will be salary increment the moment Vedanta enters. Vedanta will walk on the Copperbelt with bags of money. Before they start anything, there should be guarantees in the bank,” Mr Kabuswe said.
Mr Kabuswe said this in response to a question by PF Pambashe Member of Parliament Ronald Chitotela who wanted to know what safeguard measures Government had put in place to ensure that the pledged investment of US$1 billion in five years was realised.
“We are dealing with the lives of the people on the Copperbelt and Zambia in general. It is an MMD Vedanta and not a PF baby as is being insinuated. What are the safe guard measures in place to ensure that this pledge is fulfilled?” Mr Chitotela asked.
Meanwhile, Francis Kapyanga, the PF Mpika Member of Parliament said Zambians protested against the return of Vedanta at the Indian High Commission in London to register their deep concerns about the action the Zambian government had taken.
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