SUPPLIERS AND CONTRACTORS ADVISED TO STOP SUPPLYING KCM UNTIL FUTURE OF MINE IS DECIDED

SUPPLIERS AND CONTRACTORS ADVISED TO STOP SUPPLYING KCM UNTIL FUTURE OF MINE IS DECIDED

The Association of Mine Suppliers and Contractors has advised its members to stop supplying Konkola Copper Mines -KCM- until the future of the mine is decided.

Association President Costa Mwaba has hinted at a likely change in management at KCM once the mine is out of liquidation, which could potentially result in all old orders not being serviced.

Mr. Mwaba has told Phoenix News that this has prompted the association to commence engagement meetings with several stakeholders to ensure that KCM commits to payments within the agreed timeframe.

He is however yet to confirm the validity of a circulating memo, requesting suppliers to hold on to their supplies that were scheduled to honor outstanding KCM purchase orders, until further communication.

Mr. Mwaba has further urged members to support the implementation of the scheme of arrangement for creditors to facilitate payments to all those being owed in excess of $1 million by KCM.

PN

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