Head of State in Africa’s second largest copper producer, Zambia, has warned Vedanta and Glencore local units namely Konkola and Mopani Copper Mines respectively citing that he feels cheated by their recent conduct. President Edgar Lungu said this to in an address while on the Copperbelt province as part of a 3 day working visit.
Zambian authorities will also be courting the mines on the Copperbelt of Africa following the recent spate of negative developments in the sector where Mopani is hinting layoffs after it shuts its two shafts which are supposedly uneconomical and Konkola Copper Mines that has been cited for dealying payments to local suppliers.
Zambia’s Head of State threatened to terminate the mining agreements for both mines and that enough is enough.
The President who is on a working visit of the Copperbelt province was in the company of the Attorney General and other legal minds during his visit.
“The Attorney General is here, the lawyers are here and they will guide us on how to proceed if things get to that level.”
The Copperbelt is Zambia’s mining hub and the key driver of the economy.
Earlier in the week the Economics Association of Zambia – EAZ through its Copperbelt Chapter Head took a swipe at KCM and Mopani for their respective conducts that disadvantage both suppliers and employees.
