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Tag Archives: Konkola Copper Mines (KCM)

Bailiffs pounce on KCM over another debt

Troubled Konkola Copper Mines, facing a US$44 million commercial debt with Copperbelt Energy Corporation has been embroiled into another problem. This time, bailiffs have seizing assorted goods at its offices at Acacia House in Lusaka over a US$ million owed to another supplier of goods and services to the mine …

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CEC sues KCM over US$30 million power debt

Copperbelt Energy Corporation, Zambia’s supplier of electricity to mining companies on the Copperbelt has dragged Konkola Copper Mines to court over a US$30 million debt it is owed based on an internal agreement, the Post reported. Citing an affidavit filed before the Lusaka High Court, CEC wants KCM, a unit …

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KCM fails to meet various operational obligations

The fate of one of Zambia’s leading mining companies, Konkola Copper Mines has continued unfolding with Government revealing various shortcomings on the operations of the copper producer. Recently, the Government announced its intentions to audit the Vedanta Resources Plc owned KCM to establish various developments and commissioned a technical committee …

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“Use mining revenue to improve social sector,” says United Kingdom

“African Governments and mining companies that they host should co-exist in ensuring that the revenues realised from mining activities are translated into improving people’s welfare,” a United Kingdom official says. Lynne Featherstone, the United Kingdom’s Minister for International Development urged mining companies and African governments to ensure that mining revenues helped to …

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Copper a major determinant for Zambia’s growth-Scott

The two-day Zambia Mining and Energy Conference opened in Lusaka, today, with Vice President Guy Scott reiterating the need for the Southern African state to review its total dependence on copper as the main source of revenue for economic growth. Scott noted that while Zambia cannot give up copper, gold …

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LOW KCM OUTPUT SOURS VEDANTA

LOW copper output at its Zambian unit Konkola Copper Mines (KCM) in Chingola has cost Vedanta Resources an 8.5 per cent drop in annual copper earnings on the global market. According to the global miner’s latest preliminary market report released this weekend, KCM recorded a slump of 19.2 per cent …

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Zambia’s Mineral Tax Regime

By: Kayombo Musumali. (Mining Engineer) 17th of February 2014, Zambia’s Extractive Industries Transparency Initiative (EITI) report was officially published indicating that Zambia’s mining revenue in 2011 rose 81% to US $1,360 million (ZMW 7.5 billion) compared to the 2010 figures ($750 million) representing an over 30% contribution to government revenue. …

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Zambian Government ‘Keenly watching KCM operations’, says Scott

Zambia is watching the events at one of the country’s leading copper producers, Konkola Copper Mines (KCM) following reports that the company needs to be rescued by the state because it was loss making. Vice President Guy Scott told Parliament on February 14 in a ministerial statement accessed by Mining …

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