tag:blogger.com,1999:blog-14221184.post3263389855276492845..comments2024-03-21T19:46:44.129+01:00Comments on Maravi: MrKhttp://www.blogger.com/profile/12801241362245253006noreply@blogger.comBlogger85125tag:blogger.com,1999:blog-14221184.post-28913040204846054862015-08-02T03:42:03.464+01:002015-08-02T03:42:03.464+01:00Continued...
But a scientist who worked for more...Continued...<br /><br /><br />But a scientist who worked for more than 15 years with KCM said there has been little maintenance of critical equipment since Vedanta bought the mine, despite production of some 10,000 tonnes of copper and 300 tonnes of cobalt a year. He accused Vedanta of releasing more acid than it has authority for. “There have been heavy spillages and massive leakages. Acid has MrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-24203031887364145872015-08-02T03:41:47.159+01:002015-08-02T03:41:47.159+01:00Zambian villagers take mining giant Vedanta to cou...<a href="http://www.theguardian.com/global-development/2015/aug/01/vedanta-zambia-copper-mining-toxic-leaks" rel="nofollow">Zambian villagers take mining giant Vedanta to court in UK over toxic leaks</a><br /><br />Fears of environmental catastrophe as report finds ‘constant contamination’ of streams around copper mine while locals report health problems and failed crops<br />John Vidal Chingola,MrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-49105994567595283512015-04-30T02:57:48.135+01:002015-04-30T02:57:48.135+01:00KCM loss-making claims under new tax regime are li...<b><a href="http://www.postzambia.com/news.php?id=7595" rel="nofollow">KCM loss-making claims under new tax regime are lies - Mpande </a></b><br />By Stuart Lisulo <br />Updated: 29 Apr,2015 <br /><br />DR Mathias Mpande says Konkola Copper Mine’s loss-making claims under the new tax regime are a lie because they <br /><br />are sitting on the richest and biggest copper deposit.<br /><br />Last MrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-28770872235681000992015-04-05T01:28:49.273+01:002015-04-05T01:28:49.273+01:00So Vedanta 'hasn't made a profit since 200...So Vedanta 'hasn't made a profit since 2004', but they invested $3 billion in the mine... so when are they going to pull out? And whose $3 billion have they been wasting?<br /><br /><a href="http://www.lusakatimes.com/2015/03/30/vedanta-has-invested-us3-billon-in-kcm-but-has-not-made-any-profits-vedanta-ceo/" rel="nofollow">(LUSAKATIMES) Vedanta has invested US$3 billon in KCM but hasMrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-12235805851480062442014-09-01T14:15:55.671+01:002014-09-01T14:15:55.671+01:00Time to nationalize KCM.
KCM’s $30m debt may ban...Time to nationalize KCM. <br /><br /><b><a href="http://www.postzambia.com/news.php?id=1255" rel="nofollow">KCM’s $30m debt may bankrupt CEC - lawyers</a></b><br />Edited by Francis Lungu | Updated: 01 Sep,2014 ,12:07:54 <br /><br /><b>THE Copperbelt Energy Corporation has told the Lusaka High Court that failure by KCM to settle the over US$30 million debt would make the power company run MrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-25346294309714792502014-07-23T22:43:17.915+01:002014-07-23T22:43:17.915+01:00(LUSAKATIMES) We are unpacking the mining industry...<a href="http://www.lusakatimes.com/2014/07/23/unpacking-mining-industry-yaluma/" rel="nofollow">(LUSAKATIMES) We are unpacking the mining industry-Yaluma</a><br />Time Posted: July 23, 2014 7:30 am<br /><br />Mines Minister Christopher Yaluma says the PF Government is determined to unpack the operations of all mining companies in Zambia. Mr Yaluma said the recently launched industry wide MrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-6230422503066093002014-07-20T22:11:11.902+01:002014-07-20T22:11:11.902+01:00(LUSAKATIMES) MPs urged address aggressive tax pla...<a href="http://www.lusakatimes.com/2014/07/20/mps-urged-address-aggressive-tax-planning-multinational-companies-operating-country/" rel="nofollow">(LUSAKATIMES) MPs urged address aggressive tax planning by multinational companies operating in the country</a><br />Time Posted: July 20, 2014 8:58 pm<br /><br />The Centre for Trade Policy and Development (CTPD) has urged parliamentarians to ensure MrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-92134204456681553132014-07-17T14:09:31.054+01:002014-07-17T14:09:31.054+01:00Continued 2...
‘It never occurred to those of us ...Continued 2...<br /><br />‘It never occurred to those of us who helped to launch the FTSE 100 index 27 years ago that one day it would be providing a cloak of respectability and lots of passive investors for companies that challenge the canons of corporate governance such as Vedanta…’<br /><br />Since then there have been parliamentary debates, a consultation on the role of Financial Services MrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-20248102872658892482014-07-17T14:08:51.599+01:002014-07-17T14:08:51.599+01:00Continued 1...
The UK’s role in assisting and pro...Continued 1...<br /><br />The UK’s role in assisting and protecting this contentious mining company was exposed – from the roles of the Department for International Development (DfID) and former British High Commissioner to India Sir David Gore Booth in launching the company on the London Stock Exchange in 2003(10), to <b>David Cameron’s personal assistance in forcing the Indian government to MrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-29093388984444405192014-07-17T14:05:18.299+01:002014-07-17T14:05:18.299+01:00(LUSAKATIMES) British MPs hear evidence for de-lis...<a href="http://www.lusakatimes.com/2014/07/17/british-mps-hear-evidence-de-listing-vedanta-resources-london-stock-exchange/" rel="nofollow">(LUSAKATIMES) British MPs hear evidence for de-listing Vedanta Resources from the London Stock Exchange</a><br />Time Posted: July 17, 2014 6:29 am<br /><br />PRESS RELEASE 16th July 2014.<br /><br />********* Under embargo until 20.30 hours 21st July 2014 *MrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-4692295404357166312014-07-15T13:19:03.652+01:002014-07-15T13:19:03.652+01:00Vedanta should pay back what they stole - Lembalem...<a href="http://www.postzambia.com/post-read_article.php?articleId=51503" rel="nofollow">Vedanta should pay back what they stole - Lembalemba</a><br />By Stuart Lisulo<br />Tue 15 July 2014, 14:00 CAT<br /><br />KAUNDA Lembalemba says Vedanta Resources Plc have no option other than to pay back what they still owed the Zambian people.<br /><br />Vedanta Resources Plc this year committed a BusinessMrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-57012543847174885792014-07-15T01:05:55.214+01:002014-07-15T01:05:55.214+01:00(LUSAKATIMES) ActionAid urges Zambian government t...<a href="http://www.lusakatimes.com/2014/07/14/actionaid-urges-zambian-government-share-findings-kcm-audit/" rel="nofollow">(LUSAKATIMES) ActionAid urges Zambian government to share findings of KCM audit</a><br />Time Posted: July 14, 2014 7:29 pm<br /><br />In reaction to the government’s announcement yesterday of the conclusion of an audit report into Konkola Copper Mines (KCM), ActionAid MrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-13274904276875410052014-07-11T13:31:06.760+01:002014-07-11T13:31:06.760+01:00Continued...
This will of course cost a lot of m...Continued...<br /><br /><br />This will of course cost a lot of money. Financial and legal services in many countries are not cheap as is the case in Zambia and other African countries. But whatever is spent on such an undertaking will be money well spent. If we don't have the money to spend on trying to correct this situation, let's seek the help of other countries, especially those MrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-47032215108076083472014-07-11T13:30:34.331+01:002014-07-11T13:30:34.331+01:00Mining rip-off
By Editor
Fri 11 July 2014, 14:00 C...<a href="http://www.postzambia.com/post-read_article.php?articleId=51348" rel="nofollow">Mining rip-off</a><br />By Editor<br />Fri 11 July 2014, 14:00 CAT<br /><br />WHAT we are reading from the Konkola Copper Mines and U&M Mining Zambia Limited case about how the country is being ripped off is simply a tip of the iceberg.<br /><br />In this case, it is revealed that KCM is cheating about MrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-5134125949290358512014-07-10T23:12:15.993+01:002014-07-10T23:12:15.993+01:00Contnued 3...
Back in February 2013, KCM was emb...Contnued 3...<br /><br /><br />Back in February 2013, KCM was embroiled in another scandal when 11 Zambian managers were fired ahead of planned ‘downsizing’. When information on the terminations was reported in the media, KCM bosses became angry and ordered some workers to leave the premises immediately without collecting their belongings.<br /><br />According to AllAfrica:<br /><br />Affected MrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-40532176186440802552014-07-10T23:11:46.537+01:002014-07-10T23:11:46.537+01:00Continued 2...
A soundbite in local language from...Continued 2...<br /><br />A soundbite in local language from the demonstration can be heard here.<br /><br />On 17th March over 100 miners at Konkola Copper Mines’ Shaft No 1 in Chilililabombwe refused to come out from underground after their day shift in protest against management’s decision to stop giving meals to those that had worked overtime. They stayed underground from morning until 9pm. MrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-3904333154653192122014-07-10T23:10:38.517+01:002014-07-10T23:10:38.517+01:00Continued 1...
kcm letter
In 2009, around 700 w...Continued 1...<br /><br /><br />kcm letter<br /><br />In 2009, around 700 workers were made redundant from the Nkana smelter and, in violation of their contract, were prohibited from re-entering the plant on the day they received their termination letters. A few months later more employees were retrenched at KCM’s Nampundwe mine. An information sheet issued by KCM at the time stated that there MrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-28453548484533071402014-07-10T23:09:49.781+01:002014-07-10T23:09:49.781+01:00(LUSAKATIMES) KCM workers fight back to end exploi...<a href="http://www.lusakatimes.com/2014/07/10/kcm-workers-fight-back-end-exploitation-vedanta/" rel="nofollow">(LUSAKATIMES) KCM workers fight back to end exploitation by Vedanta</a><br />Time Posted: July 10, 2014 10:31 am<br /><br />In May this year Foil Vedanta released a video showing Vedanta boss Anil Agarwal mocking the Zambian parliament and bragging that he makes $500 million per year MrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-31624990039389643832014-07-06T14:56:30.985+01:002014-07-06T14:56:30.985+01:00KCM 'explains' its copper sales
By Stuart ...<a href="http://www.postzambia.com/post-read_article.php?articleId=51127" rel="nofollow">KCM 'explains' its copper sales</a><br />By Stuart Lisulo<br />Sun 06 July 2014, 14:01 CAT<br /><br />KONKOLA Copper Mines says all copper exports done by the mine are at market terms. On Wednesday, the High Court of Justice in London heard that Vedanta Resources-owned Konkola Copper Mines (KCM) was MrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-89158503046294667112014-07-06T14:27:22.533+01:002014-07-06T14:27:22.533+01:00Continued 2...
Metals sent to the freezones, for ...Continued 2...<br /><br /><b>Metals sent to the freezones, for example, are not recorded by Swiss customs because of their tax-exempt status.</b><br /><br />In other cases, commodities such as copper will be recorded as destined for Switzerland but instead go to a Swiss-based trading house and onwards to, say, China.<br /><br />The Centre for Global Development study found that <b>from 2007 to MrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-75425958474200278702014-07-06T14:27:00.387+01:002014-07-06T14:27:00.387+01:00Continued 1...
That report analysed 244 jurisdict...Continued 1...<br /><br />That report analysed 244 jurisdictions, including virtually all sub-Saharan countries, and almost 2,600 commodity categories, and found that <b>the average price of commodity exports to Switzerland was lower than to other jurisdictions.</b><br /><br />The difference here cost developing countries about $8 billion annually, according to the report.<br /><br />But it foundMrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-81628426766296787422014-07-06T14:26:10.471+01:002014-07-06T14:26:10.471+01:00On the scale of tax evasion through transfer prici...<br />On the scale of tax evasion through transfer pricing:<br /><br /><b>" The Centre for Global Development study found that from 2007 to 2010, 99.8 percent of Zambia's exports to Switzerland - 27.7 percent of all its exports - were not recorded as entering Switzerland. "</b><br /><br /><a href="http://in.reuters.com/article/2014/06/27/africa-investment-idINL6N0P83NG20140627" rel=MrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-75945587858469434652014-07-04T13:31:00.674+01:002014-07-04T13:31:00.674+01:00Continued...
In its application before the High ...Continued...<br /><br /><br />In its application before the High Court of Justice, U&M expressed concern over KCM's current financial position and the steps which it has taken not to honour the first and second awards granted to U&M by the LCIA.<br /><br />But KCM responded that while it has experienced difficulties in its relationship with the Zambian government and certain activist MrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-44221796745125645262014-07-04T13:29:50.320+01:002014-07-04T13:29:50.320+01:00kcm cheating on copper exports
By Mwala Kalaluka
F...<a href="http://www.postzambia.com/post-read_article.php?articleId=51057" rel="nofollow">kcm cheating on copper exports</a><br />By Mwala Kalaluka<br />Fri 04 July 2014, 14:00 CAT<br /><br />THE High Court of Justice in London has heard that Vedanta Resources-owned Konkola Copper Mines is cheating on its copper exports prices by under-pricing and selling it through subsidiaries in Dubai.<br />TheMrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.comtag:blogger.com,1999:blog-14221184.post-39322965415319525792014-06-30T00:52:00.123+01:002014-06-30T00:52:00.123+01:00Vedanta promises to cooperate on KCM tax probe
By ...<a href="http://www.postzambia.com/post-read_article.php?articleId=50845" rel="nofollow">Vedanta promises to cooperate on KCM tax probe</a><br />By Gift Chanda<br />Sun 29 June 2014, 14:00 CAT<br /><br />LONDON-LISTED Vedanta Resources Plc will cooperate with the government over a tax probe at KCM, the company's chief executive said on Friday.<br /><br />KCM is subject of an audit of its MrKhttps://www.blogger.com/profile/12801241362245253006noreply@blogger.com