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Vol 7 (AAC) No 2

Published 1st December 2013


Zambia

KCM on the back foot

With elections just two years ahead, the threat of job cuts unnerves the Lusaka government

Konkola Copper Mines, a subsidiary of Anil Agarwal's London-listed Vedanta Resources and Zambia’s second-largest copper producer, is having a rocky ride under the Patriotic Front government. In opposition, President Michael Sata attacked major mining investors whom he accused of being in bed with the previous Movement for Multiparty Democracy government (AAC Vol 1 No 1, Investment and jobs). In 2006, he described India's Vedanta Resources as 'infestors' after they paid just US$25 million for KCM in 2003, an investment the company recouped in less than three months of operations.

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