GOVERNMENT has constituted a team of forensic auditors to determine whether the Konkola Copper Mines (KCM) Nchanga Underground Mine (NUM) is still viable.
Chief Government spokesperson Chishimba Kambwili said Government believes that the mine is viable and suspects that the investor is only interested in the already mined ore instead of exploration, development and production.
This comes in the wake of the decision by KCM management to place NUM under care and maintenance leaving 1,675 contract workers out of employment and a further 825 jobs to be lost in the next three months.
Mr Kambwili, who is Minister of information and Broadcasting Services, said this during a media briefing in Lusaka yesterday.
“Government is further disturbed by reports that the investor has dumped the mining of ore in preference for treating ore from waste dump sites OB 16 and 12 and from other mines.
“Should investigations to be conducted by the team of forensic auditors prove these allegations true, Government will ask the investor to write a letter of abandonment and hand over the mine so that other investors who would be interested in mining are found,” he said.
Mr Kambwili assured the nation that Government would not allow investors under its watch to unnecessarily and wantonly lay off workers.
He further appealed to the affected employees to remain calm while investigations are going on.
Mr Kambwili alleged that KCM had earlier in 2012 attempted to close the mine and that the mining company intends to use the low copper prices to shut the mine.
I wish KAMBWILI was the president cose he seems to be serious than LUNGU. Pipo are not for mines not to prunn but to close NCHANGA U/G MINE why, why why, KCM was supposed to prunn workers not to close the mine but LUNGU agreed cose he loves money like RB. The mine has copper they just dont want to develop new areas. Lungu, Yaluma, Shamenda, all unions and three zambian top officials are corrupt, they have sold the mines.
The investors are not a charity. They are here to make money. The government has created an environment not conducive for any investor namely inconsistences in policies(they are hallucinating), load shedding, etc.
Another useless Buffon. What then after the audit? Will you tell KCM not to close the mine? It is well know that KCM is the highest cost producer on the Copperbelt do you need an audit to know that?
You must have been really hurt..hey?…lol…vote wisely next time ba Kopala…
What about forensic audit of all bonds and loans? After all, we are going to repay the same?
this is just a story to calm down citizens. This PF has no clue. what they intend to do now should have been done in 2012. where were they? what ever they do now will not help anyone. You can not have kaponyas as your rulers. all they know is to fatten themselves and their pockets. shame to you Kambwili, shame to Lungu shame to PF. you will get away with your atrocities on earth not in heaven.
As a farmer, you plan which part of the farm you plant for a particular season. So what’s wrong if KCM uses already mined ore from the dams? Maybe they know they can produce Copper cheaply through the SX route by treating the oxides first and the sulphides later when Copper prices improve. This is Strategic economical plan. I admire these mwenyes or anybody who plans like they have done at KCM considering that Copper prices are low. Profits are very related to reduction of costs.
Come on chishimba, sort those investors out as you promised.
Also to be included in the audit is wether it is true that no KCM employee will lose a job?
KCM did not say there is no copper they said it is nolonger ecomically sustainable to continue mining,meaning it is the prevailing conditions that have caused the closure.
…how about the earlier audit done by Francis Temba team….
It can’t be happening LT…..three flabbergasting articles in a row??…..”come on guys” (ref: FTJ:)
This is a very disappointing GRZ. Waisting time and resources with usless audits. That’s like saying we will carry out an audit why there is a shortage of maize meal in a period of servear drought.
government represented by Zccm ~ih you ar shareholders and certainly shouldnt be waiting for crisis when audit reports ar available and meant for timely decision making, of what value digging into past records when u cudnt utilize audit reports no wonder our gold leaves the country unnoticed,
These issues will continue to haunt Zambia, as long as we believe that investment has to be solely from foreigners. Yes, ZCCM failed, but it failed because of a system of nepotism and a Zambianisation policy that failed to recognise the need for experience, track record and academic excellence. However, the presence regime of handing over resources to foreigners out to get a quick buck, leaves nowhere because we gain minimal retains. Our country needs to empower its people through ownership and responsibility. Why would countries like Rwanda become better more empowered when ours with more resources rely on taxation and loans to get money for funding budgets? We told LPM the same, but he ignored it at our peril. These resources are diminishing rapidly, please have a rethink on them.
Comment:Chishimba kambwili should have been minister of mines or labour because he is ready to face the investors without fear or favour. I don’t know chagwa is fearing to fire his ministers who are not performing shamenda,yaluma and chikwanda these leaders are corrupt and old fashion