MINES and Minerals Development Minister Paul Kabuswe says the process of appointing a new Konkola Copper Mines provisional liquidator is underway, following Milingo Lungu’s resignation.
In an interview, Kabuswe said the UPND government had the will, desire and drive to fund KCM and would go out of its way to ensure that the mine succeeds.
“That is the route that we are taking, the process of another liquidator is already underway. Of course, those are now processes that should be done by the official receiver, so it is not the Minister, it is a legal process, but it should be done like yesterday. Also the [former] liquidator, I saw some article in the Daily Nation where he is lying that there is no will [by] this government to fund the mine, that is not the correct position. You have seen that article in the Daily Nation claiming fake things, this government has the will and the desire and the drive to fund Konkola Copper Mines and it will go out of its way to ensure the mine succeeds. Simultaneously we are also working out a solution for the mine,” he said.
The Mines Minister said the KCM legal battles had derailed government’s plan to revive the mining sector.
“KCM is entangled with these legal battles. When these legal battles are sorted out, almost every asset in Zambia, we inherited a mining system that was entangled in a lot of legal battles which is proving to be… it is derailing our plans to revive the mining sector. But we are unlocking it, we are solving them one by one. So the Zambians should be rest assured that solutions are on the horizon for the mining sector,” said Kabuswe
According to a resignation letter dated March 17, 2022 and addressed to KCM official receiver Natasha Kalimukwa, Lungu did not give any reasons for his decision to resign.
“This serves to inform you that I have with immediate effect resigned as Provisional Liquidator of Konkola Copper Mines PLC pursuant to Section 67(7) of the Corporate Insolvency Act No. 9 of 2017,” wrote Lungu.