Time Posted: November 4, 2013 1:56 pm
President Sata addresses a Cabinet meeting on the issue of KCM laying off 1500 workers
President Michael Sata has threatened to revoke Konkola Copper Mines mining licence if the mining giant proceeds with its plans to lay off 1,500 workers.
President Sata said his government will not allow KCM to fire even one miner.He said he will revoke the licence for KCM if the mining firm dares government with its plans.
President Sata was speaking at State House Monday morning when he opened a cabinet meeting.
President Sata has since warned KCM Chief Executive Officer Kishore Kumar against exploiting Zambians.He said the PF government is aware that KCM wants to use blackmail following the revocation of SI 89.
“These mining companies want to be exporting Copper concentrates to avoid paying taxes. Mr Shamenda, please go and tell Mr Kumar that we will take away his licence if he lays off even one worker, then we will take away his licence from him, that’s the easy way of we laying him off,” President Sata said.
President Sata also directed Finance Minister Alexander Chikwanda to increase revenue collection from mining sector.
According to KCM, the move is in line with its continued restructuring of operations.
The company said it was moving towards mechanisation and automation in view of the decreased copper grades at some of its mines.
Company chief executive officer Kishore Kumar announced the development yesterday in Kitwe, adding that the process of laying off the 1, 529 employees had since commenced.
Labels: ALEXANDER CHIKWANDA, FDI, KCM, MICHAEL SATA, STATUTORY INSTRUMENT 89, TAX EVASION, VEDANTA
posted by MrK @ 2:04 PM
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