When an attorney general succumbs to political pressure too often, embarrassment and quandary is inevitable.
– An instruction from the president at an airport rally set a political tone to this KCM repossession
– Shockingly lawyers arrived at liquidation as a mode of disengaging Vedanta
– Then lawyers shockingly overlooked the shareholder agreement
– An inexperienced liquidator with PF links was appointed
– Then President casually indicates to journalist that a buyer will soon be announced.
– A chinese firm makes semblance of a due diligence visit at KCM
– Vedanta reminds our incompetent lawyers on the arbitration provision and win case in SA
– Ignorant Minister on Mines says SA court have no jurisdiction. Clueless we are affiliated to the commission of international law on trade
– High Court refuses to recognise the SA ruling, something that could also be in conflict with the UN commission guidelines for arbitration
– It starts to dawn on government that you cant sell a mine like an unoccupied toilet, ati “mulibe banthu ngenani”
– Govt losses appeal in SA at huge legal costs
– Vedanta can now breath in a less hostile process in SA.
– Zambian lawyers must now have strong legal arguments during arbitration. Not these ones they have been using that our people! our people!
The reality check is
– No business can buy an asset as big as KCM in 6 months
– No business can sign a contract for a company clouded with legal disputes
– Businesses will have difficulties supplying inputs and equipment to a company that is in legal contention
In conclusion this was a careless gamble by government. The sooner they accept, the sooner they will find a better solution.
It is not about supporting vedanta, its about doing the right thing.