KCM to Invest $320M in Mine Expansion

By Tamara Muswala

Konkola Copper Mines –KCM- plans to invest 320 million dollars in the development of the mine by December 31, 2025.

This is in addition to over 125 Million United States dollars to be pumped into KCM Operations before June 28 this year.

KCM Chief Financial Officer MANISH SAXEN says already 50 Million dollars was brought into the accounts of KCM in March while another 25 million dollars is expected this month.

And #KCM Chief Operations Officer MALCOM MEWITT has dismissed claims that the mine is outsourcing jobs.

Mr. MEWITT said no single person will lose their job at the mine adding that currently KCM has 5,500 direct employees and another 6,500 under contractors.

The two were speaking when Mines Minister PAUL #KABUSWE and Copperbelt Minister ELISHA MATAMBO visited the mine to check on compliance and implementation of some of the promises it made after coming back to run the mine.

And Mr KABUSWE advised KCM management to restore confidence of the mine to the Zambian people through its operations.

Meanwhile Mr. MATAMBO urged KCM to stick to what it promised.

He said KCM must prioritise giving contracts to local suppliers and contractors and not outsourcing jobs.