Thursday, September 12, 2024

Negotiations for new Mopani/KCM mine owners still ongoing

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Minister of Mines and Minerals Development, Paul Kabuswe says the announcement of a new investor to take over Mopani and KCM will be done soon after negotiations are concluded.

Mr Kabuswe says the meetings with the potential investor are still on-going and once the negotiations with the rightful investor are concluded, the announcement will be made.

Speaking during a press briefing in Lusaka, Mr Kabuswe said his office will continue updating the nation on the status of the negotiations.

He explained that government wants to settle for an authentic investor for KCM and Mopani Mines in a quest to have a formidable investor(s) who can benefit all Zambians.

“The delay to conclude negotiations with possible investors to take over KCM and Mopani Mines is because government wants to settle for a serious and professional one, who is going to deliver to Zambians,” he said.

Mr Kabuswe also indicated that government will continue to stiffen laws regarding the management of mines and minerals in the country  to stop illegal mining activities.

He said currently, his Ministry is tying all the loose-ends in a bid to manage the mineral resources which are illegally mined by a few unscrupulous individuals.

And Mr Kabuswe disclosed that his Ministry is coming up with the minerals Commission, which will act as a regulator for the minerals in the country.

He noted that the draft of the memo is currently at Cabinet office pending approval.

He said for the country to ramp- up copper production to the projected three million tonnes per year in the next 10 years, suitable investors are needed to meet the set target.

The announcement of a new investor to take over the operations of the two mining giants KCM and Mopani was supposed to be made on Monday July 31, 2023 by Minister of Mines and minerals Development, Paul Kabuswe.

27 COMMENTS

  1. Iwe stop playing games. You had confirmed that the Indian was moving in at KCM. So what negotiations are you yapping about. Next is Mopani. Don’t play politics with people’s welfare. You know very well that these mines are old, too old for a sensible person take over the responsibility.

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    • Is there anyone sensible in this government? The head is way below useless, his Ministers are rubbish, the PS’ are cr@p. How did Zambia find itself here?

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    • A mine is never too old -Until its ore is depleted. Konkola has the longest remaining lifespan on the copperbelt

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    • #Shimugodi…there factors that affect “an old mine”. First and foremost the accessibility is very important. A mine that is below sea level and uses a 6-10 tonne skip cannot compete with a near surface mine using 60+ tonnes trucks to haul the ore…I don’t need to explain further.

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    • Deja Vu Konkola is not an old mine. All the mines on the copperbelt are older than Konkola. There are factors indeed in every endeavour so in a business venture you weigh the potentials against loss risks and come up with a plan/s to benefit the masses. Konkola doesnt have one mine. It has at present four shafts with a potential for a fifth and when you talk about KCM it is packaged with the Nchanga Open pit.

    • There are copper mines in Chile that are 200 years old. Konkola also has a natural resource that Zambia has wasted for 60 years. It is the wettest mine in the world so where do you take the water? Dumb Zambia takes it into the Kafue! Really? Those of you who have grown up in Mufulira will know that miners dont pay for water in that town. Why? Because the water is from the mines and by using it on the surface you are helping with mining operations underground. Two birds with one stone. More business creativity will tell you that water could have been sold to water scarce and more industrialised South Africa and earned Zambia some forex. Shibukeni mwebantu

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    • @Shimugodi thanks for that write up. Not the useful depressed comments from some bloggers I won’t mention. Let’s hear their take….

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    • #Shimugodi.. take it as you wish. Ask yourself why is it that investors are quick to open new mines and unwilling to occupy existing ones? By the way KCM is not part of my discussion because it’s got an owner and the question is why he’s not moving in.

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  2. Kikikikiki looks like HH wants a lions share and Vedanta is refusing…i told you guys why they brought up the issue of street vending..just a way of destructing Zambians…they want people to focus on the Vending issue whilst they’re busy cutting deals with Vedanta

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  3. When your Minister suddenly stops to shave his beard, just know that he’s compromised. The prolonged lies about non-existent negotiations is just a ploy to give more time to Sensele Mine to continue stealing copper and cobalt from KCM. The Great Mwene Mutala Party. Many will go to prison over KCM

  4. Too bad we don’t believe in ourselves enough to run them. In UNIP era the mines where run by Zambia. The reason the failed wasn’t because of lack of expertise, but because the west decided to squeeze us by depressing copper prices.
    We can do it, people. Let’s believe in ourselves.

    • So right Mwata. Richard Bryanson is not a pilot he just owns Virgin Airlines. Nor is he a locomotive driver but he owned Virgin Rail. He isnt even a keep fit junkie but he owns Virgin Active

  5. Paul Kabuswe just tell the people that you yourself are clueless and Hakainde already shook hands with the vile Indian Anil Agarwal when he first attended the mining indaba in RSA organised by Vandenta

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  6. #Shimugodi.. take it as you wish. Ask yourself why is it that investors are quick to open new mines and unwilling to occupy existing ones? By the way KCM is not part of my discussion because it’s got an owner and the question is why he’s not moving in.

  7. That’s what happens when you mix politics with business. How can you fall to find a solution by now? The miners are not getting paid on time, do you understand what these people are going through? Mopani has no money to run the mines. Come on people let’s be serious with our work. I don’t see any serious commitment honestly.

    • #Concerned Citizen. That’s where the problem is. The person on the street won’t know where the problem is while the politician knows the entire situation but won’t tell it as it’s. The whole charade could go on until the next election.
      I remember when the first sale of mines took place, there were no such delays. Today it’s different because of complications in how the miner will be treated… will the investor take on the current labor or not. How easy will production be. The list is endless. But for fear of losing popularity, they keep using ” soon”

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