February 7, 2002
Government takes over Konkola Mine
The Zambian government has taken over the assets of the Konkola Copper
Mines (KCM) following the announced impending pull out of major shareholders,
Anglo American Plc. According to a letter by finance minister Emmanuel Kasonde
to Anglo American Corporation chairman in Lusaka Mr. S. R. Thompson dated
February 5, 2002 , the government had resolved to take the decision to avert
the possible devastating social and economic consequences in the event of a
closure of the mine.
Referring to earlier correspondence from Anglo, Kasonde stated that the
government's understanding of the matter was that the former would not continue
funding KCM beyond three months. He stated that this position has left the
government with only two months in which to find an alternative option to
ensure undisrupted operations of KCM beyond April 2002. "Among the options you
have given us is the orderly closure of the operations," the letter read in
part. Kasonde further stated that it was the government's categorical position
that this option was not acceptable. (THE POST)
|