GOVERNMENT PLANS TO HAND KCM BACK TO VEDANTA …..A KBN TV EXCLUSIVE………
Credible information has emerged that Government is in talks with Vedanta officials in the hope of reaching an agreement to hand back KCM.
Government sources have told KBN TV that Vedanta were recently in the country and held talks with top Government officials.
Given that the KCM case is already before the courts of law, our sources say legal minds are trying to find justifiable lapses in the law that can aid the decision to hand KCM back to Vedanta.
KBN TV has reliably been informed that once a decision has been reached, Vedanta then plans to exit Zambia by selling the mining assets to a Canadian based mining giant that has expressed interest in KCM.
This is seen as the most viable route after Government’s proposal to jointly sale KCM and share the proceeds based on the shareholding structure failed to go through during the high-level talks.
Sources who spoke on condition of anonymity wondered why Government can not just handle the transaction without bringing Vedanta in the picture should there be need to settle out of court.
And in an exclusive interview with KBN TV on Friday, Mines Minister Paul Kabuswe, confirmed that Vedanta officials were in the country to pay a courtesy call on him but denied holding any discussions regarding KCM.
” Government respects matters that are before the courts of law, I can’t discuss KCM anyfurther than what I have told you that there is no discussion with Vedanta, it’s just speculation, ” Mr. Kabuswe told KBN TV.