CONTINUED CHALLENGES IN THE MINES REDUCE BUSINESS FOR LOCAL MINE SUPPLIERS AND CONTRACTORS BY 30 PERCENT

By Michael Kaluba

Local Mine Suppliers and Contractors on the Copperbelt have seen a half year reduction of business to just about 30 percent as of June 2022 due to sustained challenges at various mines.

Association of Mine Suppliers and Contractors’ president Costa Mwaba has disclosed that an assessment by his association shows that mining firms have been operating at between 30 to 40 percent capacity citing liquidation issues at Konkola Copper Mines and the financial difficulties at Mopani Copper Mines as some of the major reasons for this reduction.

In an interview

with Phoenix News, Mr. Mwaba has also expressed worry that there is an imminent restriction of power to Mopani Copper Mines by the Copperbelt Energy Corporation –CEC-regarding an unpaid debt reported to be around $30 Million, which may affect local suppliers and contractors further.

He is urging government to engage CEC so that power restriction is not effected further stating that the sustained financial challenges at Mopani Copper Mines including reported failures to meet obligations, are testament of how bad the Glencore deal is to the future of the mine.

PHOENIX NEWS

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