Mines start flooding as profit making KCM continues refusing paying for electricity

Nkokola Copper Mines (KCM)’s operations have been severely affected and reaching dangerous levels as the underground operations are now flooding further restricted power supply from the Copperbelt Energy Consortium (CEC).

The lives of the miners are now at risk underground as the impasse continues over the failure by the profit making mining giant’s refusal to pay its electricity bills amounting to US $44 million from April 2014.

CEC is in no compromising mood over the outstanding huge amounts that will further weaken already worthless Kwacha due to the heavy loses the economy is incurring on Zambia’s main economic activity.

On its part, KCM claims to be losing 482 tonnes of copper output worth $3.3 million within a few days, but is refusing to settle the electricity bill which has now accumulated to $44 million from April 2014.

KCM owners mocked Zambians early this year over the amount of profits they have been ripping in this country after buying the mining giant for a song.

Power supplies to the mines, though slightly increased, is still heavily subsidized by government compared to the domestic customers who can hardly afford to pay for electricity in homes due to increases.

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