May 23, 2019 / 3:06 PM / 3 months ago

Zambia's mines minister says to undertake regular audits at all mines

LUSAKA, May 23 (Reuters) - Zambian Mines Minister Richard Musukwa said the government will undertake regular audits at all mines to avoid any repeat of the issues at Vedanta unit Konkola Copper Mines (KCM), which the country said breached the terms of its licence.

A high court order this week named a Zambian law firm as the liquidator to oversee KCM, a move that has whipped up concerns among the mining community about rising resource nationalism in Africa.

Musukwa said the government’s action at KCM “should not be misconstrued as nationalisation”.

“The government will be undertaking regular audits at all the mines to ensure compliance and avoid the recurrence of the situation at KCM,” he said. (Reporting by Chris Mfula; writing by Barbara Lewis)

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