Economy

Vedanta Denies Sabotage Accusations at KCM

Vedanta Resources has denied allegations that it is involved in acts of sabotage at Konkola Copper Mines and has described the claims as baseless.

Vedanta was responding to the allegations reportedly made by some Zambian government officials.

“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 stated.

“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 stated that given the allegations, Vedanta had been trying to contact the provisional liquidator Milingo Lungu 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 interest 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 stated.

Vedanta stated that it was “absolutely committed to resolving the current situation using all available means” and urged the Government of Zambia, ZCCM-IH and the Provisional Liquidator to take the same approach.

4 Comments

  1. Cephas

    This Indians have failed to run the kcm mines let them go we need a new investor. Enough is enough why can’t u just go and open your own mine in India and leave ours

  2. Saimbwende

    Vandetta you are a thieving and clueless gang from India you have raped us as a nation and you still have the audacity to talk rubbish go hang up and burn in hell.You were even lucky to own the KCM mine you can’t have such in your India.Learn to respect us as a nation

  3. Anil Agarwal

    I bought it for 25 million dollars even if you chase me I have already made billions of dollars after all the money I paid you came from the same mine.i did not bring any coin to Zambia not even those old kaunda coins 🤣🤣🤣🤣🤣🤣🤣🤣

  4. Friday

    Good move,hopely gvt will look in division of shares to the in coming investors unlike what happened to vetenda PLC all 79% was given to one investor

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