The provisional liquidator of Konkola Copper Mines, Celine Nair, has made it clear that the mine is not paying off Vedanta debt, but rather the post-liquidation debt that the business has been owing to local businesses. James Musonda, a social anthropologist, responded to a statement in which he criticized KCM’s decision to repay debt supposedly…
The provisional liquidator of Konkola Copper Mines, Celine Nair, has made it clear that the mine is not paying off Vedanta debt, but rather the post-liquidation debt that the business has been owing to local businesses.
James Musonda, a social anthropologist, responded to a statement in which he criticized KCM’s decision to repay debt supposedly left by Vedanta, calling it “irrational and irresponsible,” and questioned the reasoning behind it. According to Ms. Nair, KCM is well aware of the law’s requirements for debt repayment for companies who are under liquidation, and the mine’s
The foundation of the business strategy is the assistance of small and medium-sized local businesses, which have made a significant recent contribution to the expansion of the asset.
According to Ms. Nair, it is therefore astonishing that a well-intentioned activity by KCM has been purposefully misinterpreted to the extent that charges are being leveled against the business and personnel in charge of maintaining this national asset.
She claims that despite unjustified accusations the company may encounter, KCM will continue to carry out honorable endeavors that will not only help local businesses thrive but also boost the expansion of the national economy.
