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Article

3 Jun 2014

Author:
Jimmy Chibuye, Zambia Daily Mail

State urged to act on KCM [Zambia]

The Civil Society Organisations Extractive Industries Transparency Initiative (CSO-EITI) forum says Government should take appropriate action against Konkola Copper Mines (KCM) for alleged dishonesty. CSO-EITI co-ordinator Marriot Nyangu said...Government should take revelations by Vedanta Resources owner Anil Agarwal and the technical audit report seriously. “We also call upon all EITI shareholders to continue pushing for a transparent, accountable and inclusive mining sector,” Mr Nyangu said. He said Zambia needs to look at KCM’s shareholding structure, conditions and agreements to preserve its right to its resources. Mr Nyangu said despite all the incentives that the mines have been given, their contribution to the country’s gross domestic product (GDP) is still low at 10 percent. He said the mining companies should be monitored for alleged under-reporting on revenue, tax incentives claims, tax avoidance and deliberate mismanagement...