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Alba Iulia
Thursday, July 2, 2020

Mine suppliers and contractors appeals to CEC to engage KCM over the owed $ 140 million

Economy Mine suppliers and contractors appeals to CEC to engage KCM over...

The Mine suppliers and contractors Association of Zambia has appealed to Copperbelt Energy Corporation (CEC) to support and engage Konkola copper mines (KCM) in private over the 140 million US dollars the later allegedly owes the power utility.

Association president Augustine Mubanga says the deteriorating relationship between KCM and CEC if left unchecked can have far-reaching devastating effects on the economy and sustainability of the mine.

Mr. Mubanga in a statement to ZNBC news in Kitwe says KCM just like other mining companies are passing through a difficult time that requires everyone’s support, especially in the wake of the COVID-19 outbreak which has punched holes in the production benchmarks.

He said Both Konkola Copper Mines and Copperbelt Energy Corporation are strategic Assets of the nations and therefore their actions have far-reaching consequences on the economy and the people of Zambia.

Mr. Mubanga urged CEC and all players in the Power sector to accept the government’s move to liberalize the energy industry.

[Read 751 times, 1 reads today]

5 COMMENTS

  1. if you think that mines are passing in difficulty times you are wrong. Kcm’s priority from the start has been to pay foreign suppliers first than locals including CEC on a huge cost . This is the problem KCM has which was smartly created by itself.compair the amount of money kcm owes foreign suppliers and local one’s including CEC, then you will know what you know.

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  2. CONVID 19? Please! When did the CONVID19 come? It is reported that KCM liquidators have paid Zero Money to CEC since they took over. Which suppliers and contractors have they been paying because they have been boasting of dismantling the debt? GIVE back KCM to businessmen to run it with conditions in place. Let the lawyer ran his firm in Lusaka.

Comments are closed.

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