Konkola Copper Mines has released 4.5 million US dollars for labour based contractors.
KCM Chief Financial Officer Sharad Gargiya says the payment is for a few contractors while suppliers will be paid next month.
Mr. Gargiya says all the contractors and suppliers will be paid by the end of January, 2017.
And Minister of Mines Christopher Yaluma has warned KCM that he will revoke its operating license if it does not fulfil its promise to pay all the contractors and suppliers by the end of January.
Mr Yaluma says he has been briefed about the KCM financial challenges and he understands what the company is going through.
And one of the contractors Blackwell Siwale said the 4.5 million US dollars released by KCM is a step in the right direction.
Mr Siwale said KCM should finish paying all contractors as promised in order for them to sustain their businesses.
On Friday, hundreds of contractors and their employees protested and blocked the entrance to the KCM General offices in Chingola demanding payments.
This forced the contractors, KCM management and the Ministers of Mines and Labour to hold a six hour closed door meeting in which the KCM Chief announced that contractors would be paid by Tuesday.
KCM are just copying the way GRZ pays its contractors…this is what happens when you have crooks for investors…now he is feeling the pressure his cadres and the PF elite who are suppliers. Why are you not this proactive when it comes to environmental issues.
Let’s be fair ba Jay Jay. The environmental issue has been long standing even when I was a school boy in Chingola water used to be poluted. The recent one is very difficult to pin point who the culprit is as there are now seven mines using the Kafue. If it was at mwambashi / charity we would know that it’s KCM Mimbula but once it reaches Kafue the matter becomes complicated.
Step one seems to be unfolding positively, but there were also grievances of KCM engaging only indian suppliers and kind of doing away with other suppliers. Can we also have checks and balances undertaken along that avenue please an update publicized . Thank for the swift intervention Mr minister. Always be watchful with this type of investor we have, they can fly away overnight without your notice and by the time you work up the mine will be flooded.
So if you don’t complain you won’t get paid. They have money but don’t want to just like some akongola umunani and if you don’t remind them, they won’t pay. They prefer to remember to forget.
I cant believe Mr Blackwell’s excitement about 4.5M USD…How much is he expecting? That is less that 1% of 200 Million KCM owe suppliers and contractors. KCM will never recover. They are investing in other projects in SA, Australia and India except in Zambia. Will KCM manufacture the dollars to liquidate this debt, if it is in your powers Mr minister and there investors interested except Chines, give them the mine to run. Amwenye alepela!
Inviroment… Kafue river is even more pouluted below the bridge after raw matuvi from kitwe town. Where is the council ???
Need to point at them and take them to court also.