Editor's note: an important ministerial statement was issued recently by Mines Minister Chris Yaluma on Konkola Copper Mines PLC. It seemed to contain rather interesting statements against President Sata's threat to nationalise against KCM.
Konkola copper mines plc (KCM) has of late come under increasing public debate and media attention following the attempt by the company to lay off 1,529 employees. This is in addition to the media report of 15th May, 2014 in which Mr Anil Agarwal, Chairman of Vedanta Resources limited was quoted as having said that he is making US$500 million from KCM, a mine he bought for a song (US$25 million) and not the asking price of US$400 million.
KCM is currently the second largest copper producing company in Zambia and Government through ZCCM Investment Holdings has twenty (20) percent shares. KCM provides approximately seven thousand eight hundred and four (7,804) direct jobs and nine thousand five hundred and forty nine (9,549) jobs through contractors.
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