Zambian president threatens to withdraw Konkola’s mining licence
LUSAKA — Zambian President Michael Sata threatened on Monday to revoke the licence of Konkola Copper Mines, owned by London-listed Vedanta Resources, if it goes through with a plan to lay off more than 1,500 workers.Lusaka issued a similar ultimatum last month against South African retailer Shoprite, raising investor concerns in Africa’s top copper-producing country."If he’s threatening to lay off people let him lay off one and we’ll take away the licence from him," Mr Sata told state-run ZNBC radio, referring to Konkola CE Kishore Kumar, who announced the plan to cut jobs last week.The miner said on Friday it planned to trim about 7% of its workforce of 22,000, including contractors, by March as it began to mechanise operations."We have been informed of the president’s statement and we shall endeavour to engage the head of state over the matter," a Konkola spokeswoman said.Mr Sata is seen as a populist who swept to power two years ago on an activist platform promising to defend wor...
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