Mines Minister Assures Business Community Over KCM Concerns

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Minister of Mines Richard Musukwa has calmed concerns the situation at Konkola Copper Mines could negatively affect the economy.

BELOW IS THE STATEMENT

PRESS STATEMENT FOR IMMEDIATE RELEASE.

Thursday, 23rd May, 2019.

Following the current state of affairs surrounding Konkola Copper Mines, the Minister of Mines and Minerals Development Honourable Richard Musukwa MP would like to assure the business community, all stakeholders and the public at large that Government policy on mining still remains that of encouraging the development of a private sector- led mining industry.

Mr Musukwa has reiterated that the role of Government is to create an enabling environment for investment that creates mutual benefits for the country and the investor.

The Minister has stated that what Government is doing at KCM should not be misconstrued as nationalization.

The action has been triggered by failure by the investor to comply with license conditions and will therefore be dealt with in accordance with the provisions of the Mines and Minerals Development Act of 2015 and other relevant laws.

Mr Musukwa states that care will be taken to ensure that no undue socio-economic distress is caused and that the investor is not in any way unfairly treated.

The Government of the Republic of Zambia values the investment by the private sector in the Zambian mining industry and the economy at large. Investors are important in the development process of the country as such we will endeavour to dialogue to resolve any issues affecting businesses.

However, Government shall penalise any fraudulent mining company to prevent loss of the much needed revenue and save jobs.

Government will be undertaking regular audits at all the mines to ensure compliance and avoid the recurrence of the situation at KCM.

The Ministry of Mines has since called upon the people of Zambia particularly those directly affected by the developments at KCM to be patient and allow Government to resolve the matter as outlined in the law in the best interest of all involved.

On May 21st 2019, Government named a provisional liquidator to manage the affairs of KCM, Mr Milingo Lungu.


Issued By:
LUCY SHAWA (Ms)
PUBLIC RELATIONS OFFICER
MINISTRY OF MINES AND MINERALS DEVELOPMENT
LUSAKA
Tel: 260977938375
Email: lucy.shawa@mmmd.gov.zm
shawalucy@yahoo.com

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