By Staff Write
Socialist Party Copperbelt Province Chairperson Reagan Kashinga, has strongly criticized the UPND government for awarding back Konkola Copper Mines (KCM) to Vedanta Resources.
Mr Kashinga described the decision as a “missed call” and accused the government of hypocrisy. “This is the same Vedanta they were against when they were in opposition. They condemned and vowed not to give the mine to Vedanta, but now they are siding with him,” he said.
The Socialist Party chairperson expressed concerns about Vedanta’s financial capabilities, stating that the company is “broke” and using the mine as collateral to secure loans. “If Vedanta is broke and you entrust a big mine like KCM, which is a game-changer for the people of Zambia, then you are just killing the people on the Copperbelt,” he said.
Mr Kashinga also questioned the government’s motives, suggesting that they are desperate for funds. “The UPND Government is broke, that’s why they were trying to push through the deal. They know Vedanta is not a man who can turn tables,” he said.
The chairperson further criticized the government’s three-year timeline for KCM to achieve production targets. “The minister of mines said we don’t expect KCM to be controlled at once; we have to give them three years. This means we shouldn’t expect anything from KCM in that period. If there’s anything we expect to see from KCM, it will be after three years,” he said.
He expressed disappointment in President Hakainde Hichilema’s praise for Vedanta, despite his previous condemnation. “Giving KCM to Vedanta is not something to celebrate. If Vedanta was serious, he would have fulfilled the promises he made,” he said.
