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LequteMan
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Zambian President Michael Sata threatened on Monday to revoke the licence of Konkola Copper Mines (KCM), owned by London-listed Vedanta Resources, if it goes through with a plan to lay off more than 1 500 workers.
Lusaka made a similar ultimatum last month against South African retailer Shoprite, raising investor concerns in Africa's top copper-producing country.
"If he is threatening to lay off people let him lay off one and we will take away the licence from him," Sata told state-run ZNBC radio, referring to Konkola chief executive Kishore Kumar, who announced the plan to cut jobs last week.
The company said on Friday that it plans to trim away about 7% of its work force of 22 000, including contractors, by March as it begins 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 spokesperson told Reuters.
Source: news24
see more at http://www.news24.com/Africa/News/Zambias-Sata-getting-increasingly-dictatorial-20131104
Lusaka made a similar ultimatum last month against South African retailer Shoprite, raising investor concerns in Africa's top copper-producing country.
"If he is threatening to lay off people let him lay off one and we will take away the licence from him," Sata told state-run ZNBC radio, referring to Konkola chief executive Kishore Kumar, who announced the plan to cut jobs last week.
The company said on Friday that it plans to trim away about 7% of its work force of 22 000, including contractors, by March as it begins 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 spokesperson told Reuters.
Source: news24
see more at http://www.news24.com/Africa/News/Zambias-Sata-getting-increasingly-dictatorial-20131104
