Pressure groups stage London protest against Vedanta citing concerns over the company's Zambian Konkola Copper Mine operations
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Zambia: Government to strip Vedanta subsidiary Konkola Copper Mines of mining license over alleged license breaches
Author: Chris Mfula, Reuters
"Zambia seeks 'divorce' from Vedanta over alleged mining breaches", 20 May 2019.
Zambia plans to strip Vedanta-controlled Konkola Copper Mines (KCM) of its mining license and bring a new investor into the operation...Zambian President Edgar Lungu announced the plan on Monday, which his spokesman said followed a number of breaches of the terms of the license, without giving details. Zambia...has also proposed tax changes that Lungu says he will push through, despite opposition from international miners which say they will deter investment...Some miners have already reduced or threatened to cut output, although First Quantum said it had abandoned plans to lay off workers. Union leaders on Monday called on Glencore to reverse its decision to close two shafts...The plan mirrors moves in other parts of Africa, where countries are trying to secure greater benefits from natural resources being managed by foreign companies.
Vedanta said it was seeking an urgent meeting with Lungu over the future of KCM and that it had not received formal communication from the government...The government, which also has a stake in KCM through a state mining company, “(is) fully apprised of and party to the circumstances of the company and major decisions that have been taken,” Vedanta added. Presidential spokesman Amos Chanda told Reuters a notice had been issued to KCM in April last year over a number of breaches of the terms of its license and it had not convinced the government it should keep the license...Demonstrators marched in Chingola in Zambia’s copper belt to welcome the decision to bring in another investor. Mine Workers’ Union of Zambia (MUZ) President Joseph Chewe called on the president to bring in “a credible investor, not Chinese”, with public opinion turning against China’s extensive asset ownership in the country...
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- Related in-depth areas: Chinese investment overseas Latest news on natural resources Natural Resources
- Related companies: First Quantum Minerals Glencore Konkola Copper Mines (joint venture Vedanta Resources, Zambia Copper Investments & ZCCM Investments) Vedanta Resources
Vedanta response to concerns raised by Foil Vedanta & Afrika Diaspora regarding its Konkola Copper Mine operations
“As a London listed, fully regulated company, Vedanta Resources always fully adheres to the highest regulation and disclosure requirements. As such, there should be no doubt over the accuracy of our reporting or the taxes we are paying.”
- Related stories: Pressure groups stage London protest against Vedanta citing concerns over the company's Zambian Konkola Copper Mine operations
- This is a response from the following companies: Vedanta Resources
Author: Abel Mboozi & Gift Chanda, Post (Zambia)
Commenting on the protests by scores of people from Foil Vedanta, Afrika Diaspora and other organisations who besieged the Zambian High Commission...Dr Mwansa...[Zambia’s] former mines minister...said Zambia should ably benefit from its mineral wealth...Dr Mwansa...said the protests in London were justified because the mining companies in Zambia were not contributing enough to the national treasury..."It's not acceptable that the total Zambian labour force of around 600,000 should contribute more to the treasury...than all mining companies put together..." Dr Mwansa said the mining companies and the government needed to dialogue on the matter ...to create a win-win situation...
Author: Dave Evans, Demotix
Pressure groups calling themselves Foil Vedanta and the African Diaspora...held banners and placards outside the Zambia High Commission. The protesters say that they will join calls by KCM employees and former workers in Zambia, demanding...proper...compensat[ion]...