PETER SINKAMBA DISAPPOINTED WITH KCM’S REDUCED COPPER PRODUCTION IN LAST 5 MONTHS
By Michael Kaluba
Green Party Leader Peter Sinkamba has described the recently announced Konkola Copper Mines -KCM- production figures under the renewed Vedanta agreement over the past five months, as depressing and disappointing.
According to the KCM board, the mine has increased production to 8,000 metric tons over the last five months, securing more than 12,000 jobs.
Mr. Simamba however says considering the mine’s past production capacity of over 180,000 tons of copper annually, the released figures are disappointing for a company capable of producing 90,000 tons of copper within six months.
He contends that Vedanta’s financing mechanisms are not working effectively and that the investor needs to upscale its financing to increase productivity to about 40,000 tons by mid-year and an annual copper production of 80,000 tons as the mine strives toward full capacity.
And Mr. Sinkamba has taken a swipe at Mines Minister Paul Kabuswe for insinuating that calls by some organizations for the government to find another investor to run KCM are mere politicking, when production figures so far indicate very little progress at the asset.
PHOENIX NEWS
PETER SINKAMBA DISAPPOINTED WITH KCM’S REDUCED COPPER PRODUCTION IN LAST 5 MONTHS
