KCM TRASHES BLOOMBERG STORY- SAYS ITS A LIE

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KONKOLA Copper Mines (KCM) PLC has dispelled an article by Bloomberg concerning operations of KCM and its two subsidiaries in which it suggested that KCM operations at the Konkola Deep mine have been shut down.

The mining firm has since demanded a retraction of the misleading article by Bloomberg.

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In a media statement issued, general manager corporate affairs Shapi Shachinda says ever since the mine was placed under liquidation in May 2019, it has not been closed or put on care and maintenance.

He said the Bloomberg article is false and misleading.

Mr Shachinda said Konkola mine is currently operating and there are no plans to put it on care and maintenance now or in the future.

“Placing a mine under care and maintenance is a public and legally prescribed procedure. This procedure had not been invoked and we
have no plans to invoke it,” he said.

Mr Shachinda said to the contrary and in addition to current operations KCM is about to commence mining in a new area of Konkola known as Konkola East.

He said the favorable prices have made it economical to open up new areas.

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