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KCM ramps up production and commits to settling outstanding liabilities

Konkola Copper Mines Plc (KCM) has continued to ramp up production at all the Business Units including Nchanga Business Unit, Konkola Business Unit and Nampundwe Mine near Lusaka, while the Smelter at Nchanga is undergoing a planned shutdown. The Smelter is scheduled to restart operations by 19 November 2019.

According to a statement released to the media, the Konkola Underground Mine at Chililabombwe is targeting close to 2,000t of integrated copper in concentrates this month while Nchanga Underground and Nchanga Open Pit Mines have targeted 1,300t of copper in concentrates. The Tailings Leach Plant (TLP) at Nchanga has set a target of at least 3,000t of cathodes for the month of November.

Management, employees and contractors are doing a good job and my focus continues to be ensuring that we nurture the value of the KCM asset. This requires improving the Company’s production but also securing the funding to help sustain the KCM’s working capital which was completely eroded during the previous era.

Engagement and cooperation with all suppliers and contractors is ongoing and liabilities are being addressed. As the Company’s operations ramp up more of our suppliers will be paid within a given time-frame. All KCM suppliers and contractors are key to the company’s long-term operations and we are grateful to them for their understanding, patience and support.

The Statement concluded by saying that KCM remains committed to settling any debt owed to respective stakeholder groups and commits to engaging all stakeholders to ensure sustained operations of the Company for the benefit of employees, suppliers and contractors, communities, the Government, regulatory authorities and customers.

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