KCM calms workers

IN MAY 2014, a technical committee constituted by Government to evaluate the performance of Konkola Copper Mines found that capital projects totalling US$2.8 billion were financed through Konkola’s own cash flow, lease finance and short-term bank loans. PICTURE: MATTHEWS KABAMBA

KONKOLA Copper Mines (KCM) has appealed to its workers to remain calm as management awaits court proceedings to be concluded before it can pay their redundancy packages.
Payment of the packages will be delayed due to an application filed by Vedanta Resources Holding in the Lusaka High Court regarding provisional liquidator Milingo Lungu’s powers to run KCM operations since the case has been referred to arbitration.
The mine will be unbundled into two subsidiaries called KCM Smelter Company and Konkola Minerals Resources Limited.
All employees were recently declared redundant before being re-engaged in the two units and CLICK TO READ MORE

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