KCM owes suppliers $80m, govt to take drastic action

KCM owes suppliers $80m, govt to take drastic action

Konkola Copper Mine (KCM) owes suppliers of goods and services 80 million United States dollars as of September 2018.

Minister of Mines Richard Musukwa says the mining giant owes both the international and local suppliers’ monies because it is not doing well.

Speaking in Parliament on Thursday, Mr. Musukwa however said failure by KCM to pay its debt to the suppliers is a bad business practice which should not be entertained.

He has since urged the mining company not to wait for government’s intervention before it pays its debt to suppliers of goods and services.

Mr. Musukwa said if the company does not pay suppliers, government will be left with no option but to take drastic measures to protect Zambians.

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    Dongo 2 weeks ago

    And how much does govt owe the mines in VAT? If they paid the mines can’t the mines pay off these debts?

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