Konkola Copper Mines (KCM) issued a statement addressing concerns raised during a recent meeting in Kitwe involving union leaders representing workers at KCM. The meeting discussed matters related to employee rewards as outlined by Vedanta Resources Limited and the overall state of the mining asset.
Management at Konkola Copper Mines acknowledges the apprehensions of its workforce and seeks to reassure employees that all stakeholders involved in the finalization of the complete takeover by Vedanta Resources Limited are diligently working to address outstanding issues. These efforts are part of the transitional arrangements agreed upon and signed by ZCCM IH, Konkola Copper Mines, and Vedanta Resources Limited on November 6, 2023.
In the statement, KCM management emphasized their commitment to safeguarding the integrity of the company’s assets during this transitional period. The assurance comes amid concerns raised by mine unions about the state of operations and the need for urgent investments to prevent potential flooding in the underground mine.
Shapi Shachinda, General Manager Corporate Affairs at KCM, issued the statement, requesting patience from union leaders and members of the Mine Workers Union of Zambia (MUZ), National Union of Mining and Allied Workers (NUMAWU), and the United Mine Workers Union of Zambia (UMWUZ). Management stressed that the matters discussed will be implemented as promised by the investor once all outstanding issues have been resolved.
Meanwhile, at a media briefing in Kitwe, mine unions expressed urgency for investments in Konkola Copper Mines to avoid potential challenges, including the flooding of the underground mine. MUZ President Joseph Chewe, along with NUMAW President Saul Simujika and UMWUZ President, highlighted concerns about operational delays and increased pressure on KCM’s operations.
Chewe went on to express worries about the current state of the smelter at Konkola, describing KCM as a “dead horse” and suggesting that without prompt action, the mine might soon go into care and maintenance. The union leaders demanded full disclosure of the Mopani deal and emphasized the need for transparent communication regarding the future of Konkola Copper Mines.
Ba Muz just keep quiet.
And who is going to talk if muz keep quiet?
@misheck Kanyembo… these guys have nothing to offer, no principles, no integrity. They knew why government repossessed KCM and they supported the move. The new government reverses the move, they support it without questions. If they were really serious they should have discussed with the PF government before the mine was repossessed. So what are they going to say to improve the situation?
Guys,
Vedanta has no liquidity.
They are in the process of raising funding from loans and debentures.
The cash the company had has been shared by the Agarwal family a few years ago. A “dead horse” indeed. I doubt if Vedanta can fulfil their promise!
Agarwal wants the mine back and quickly sell it. He failed when the situation was favorable so how does anyone believe he will be better this time around.