Lungu meets Vedanta owner, insists KCM will be liquidated

Lungu meets Vedanta owner, insists KCM will be liquidated

President Edgar Lungu has met  the owner of Vedanta, tells him we shall go ahead to liquidate KCM.

According to State House, Anil Agarwal requested to meet Lungu, asked to continue running KCM and to pay over debts.

“Meeting has no effect on the Court or Liquidation processes”

President Edgar Lungu on Wednesday met Vedanta Resources Chairperson, Anil Agarwal at State House.

In a statement released by State House Special Assistant for Press and Public Relations, Isaac Chipampe, Mr. Agarwal requested to meet the Head of State.

He expressed desire to continue running the mine and among other things, pledged to pay the debt owed to suppliers and contractors.

The Vedanta chief also pledged to re-invest in the mine and restructure the shareholding of Konkola Copper Mines(KCM).

President Lungu on the other hand stated that the position his government had taken had received support from the poeple of Zambia.

He also said the meeting he held with Mr. Agirwal will not affect the status of Court or the Liquidation processes.

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    james Bond007 1 week ago

    You were saying the mine is not making profit, why do you want to run a mine that isn’t profitable? 
    Invester con man. Busy extenalising profits to your country.