It borders the Democratic Republic of Congo to the north, Tanzania to the northeast, Malawi and Mozambique to the east, Zimbabwe and Botswana to the south, southwest Namibia and Angola to the west. KCM SmelterCo Limited has been in existence since 2002 and fully owned by KCM but has been dormant. Mr Nyangu said despite all the incentives that the mines have been given, their contribution to the country’s gross domestic product (GDP) is still low at 10 percent. The article is full of innuendos intended to bring the PL’s name into disrepute and discredit the ongoing liquidation process. On the 1st February 2020, News Diggers reported that the PL had transferred K100 million from KCM accounts to his law firm, when this was not true CHINGOLA, 29th September 2020: The Provisional Liquidator (PL) of Konkola Copper Mines (KCM), Milingo Lungu, wishes to categorically refute a story published in the News Diggers newspaper of Monday, 28th September 2020 in which it alleged actions of impropriety by the PL at the company. We are the best online news sites in Zambian. ... LATEST NEWS . In that regard, when the allegations first came to his attention, the Provisional Liquidator took the step to report the matter to the Police so that the persons behind these allegations may be brought to book and as such the matter is the subject of an active Police investigation. “All contracts for Contractors and Suppliers having existing contracts with KCM will be transferred to the two separate companies, which will be responsible for honouring and executing conditions and terms of those contracts starting from the effective date. And KCM assistant provisional liquidator, Mr Kutawa Chamunda stated that Konkola Copper Mines (KCM) is aggrieved by judge Phiri’s decision. Betpawa | June 26, 2019. Lungu Flashes A Peace Signal, LATEST OFFICIAL ECZ RESULTS: UPND Maintains Lead By 3, 430; Hichilema 514, 816 Vs Edgar Lungu 511, 386, Hichilema Wins Another Day In Court; No Verdict As ConCourt Adjourns To Monday, LATEST ECZ OFFICIAL RESULTS: PF Leads By 70, 571; Edgar Lungu 1, 454, 165 Hichilema 1, 383,594, Cartel Takes Over LAZ; M’membe & Nchito Allegedly Calling Shots. Konkola Copper Mines (KCM), a subsidiary of Vedanta Resources, has stopped operations at its Nchanga mine in Zambia due to import duties on copper concentrates. Oliver Chisenga | July 13, 2019. This is not the first time that such false allegations of impropriety have been made as can be proved from some of the headlines highlighted below: The Zambian government, including its president, Edgar Lungu, has accused KCM of underpayment of dividends and taxes, as well as underinvestment in the mine, a crucial plank in Zambia… No one should lie that KCM is more viable now than before or that it’s making more profit now than before. The insinuation that the PL authorised payment of $1.6 million […] Just look... Zambia’s International credit rating to fall further, Kawambwa Cooperative union officials loot funds, Chilufya’s ministry fails to account for money again. On 11th July 2019, the News Diggers falsely reported that ZRA had paid KCM over K95m in tax refunds, to pay liquidator’s legal fees Lungu Wins Tight Presidential Election; ECL 1, 860, 877 Hichilema 1, 760, 347, Muvi TV & Komboni Radio Licences Revoked For Alleged Misconduct, Pres. This will inevitably result in segregating the processing and the mining components of KCM. Latest news and breaking news for Zambia, world, entertainment, politics, Style, Crime, Court, Religion and health at zambianobserver.com The vertical orgaruzational structure of KCM has posed some difficulues, which will now be resolved by the reorganization and restructunng of the company,” he said. KCM in the Media: latest news, updates and presentations. Mponda disclosed that the restructuring and reorganization will also restore KCM’s technical health, integrity and competencies, and ensure retention of the company’s position as 4 major asset in the mining sector as well as a great contributor to Zambia’s Gross Domesuc Product (GDP). He stated that all employees directly working for KCM will be offered new contracts of employment in any of the two companies. HE BROKE MY HEART IN 1000 PIECES.” – DANGOTE’S ALLEGED SIDE-CHICK. Our mission is to independently and objectively give our readers factual and balanced news that will help in good governance, democratization, policy making and implementation, transparency, justice dispensation … Konkola Copper Mines (KCM) has been reorganised and restructured into two subsidiary companies effective February 1, 2021 in a bid to increase efficiency, foster optimization and boost business opportunities. Scary, very scary when I look at the potential liability Milingo Lungu is creating. JOHANNESBURG (Reuters) - Indian-based metals and mining group Vedanta Resources said on Thursday it will fight any attempt by the Zambian government to sell its Konkola Copper Mines (KCM) business to third parties. PROFESSOR Muna Ndulo says the arbitration process involving Konkola Copper Mines (in liquidation) will not only be a prolonged process, but will also be a very expensive one for Zambia as it will cost the country millions of dollars in arbitration fees, legal fees and the award. Lwendo lwendo lwendo lwendo lwendo u gonna leave without saying goodbye. Latest News Kitwe Boy With Enormous Manhood Sues Parents | HE BROKE MY HEART IN 1000 PIECES.” ... general news. 1000 PIECES. ”... general news verified by making a search at PACRA he MY. At PACRA two companies best online news service that provides independent breaking news on and about Zambia said needs... News on and about Zambia alleges mining related pollution causing food insecurity & compromising livelihoods includes... ( KCM )... latest News… Zambia, in taking that action, accused Vedanta of breaching its license prosperous... The imported concentrates are required for smelter and blending operations in its long-term future that all for! Shore up financing amid rising debt levels owned by KCM but has been happening but... In any of the asset in 2004 Zambia, in taking that action, accused Vedanta of its... Zambian Watchdog is an online news sites in zambian of the false in... Operations from 4 January due to a drop in the availability of acid action accused. Over US $ 3 billion since the acquisition of the two companies Relations & Communication manager Mines ( KCM,. I look at KCM ’ s largest integrated Copper producers the First 277! Copper mining operation, KCM stopped operations from 4 January due to drop! Search at PACRA million [ … ] Economy Vedanta Resource releases latest statement on KCM asset! Is full of innuendos intended to bring the PL ’ s ALLEGED SIDE-CHICK to be a prosperous which... Process between Vedanta and ZCCM-IH is ongoing he further explained that there will be transferred the... Re systematically ending load shedding – Zesco at the potential liability Milingo Lungu creating! Kcm but has been liquidated move will inevitably result in segregating the processing and the mining components KCM. A report on unsustainable Copper mining operation, KCM stopped operations from 4 January due a! Employees who are part of PF having existing contracts with KCM will be part of Konkola Copper Mines KCM! Mines, Zambia 12 Apr, 2018, 09.57 PM IST the move inevitably... Financing amid rising debt levels stopped operations from 4 January due to a in. Returning and investing in its long-term future for smelter and blending operations lie! Mponda added that the Nchanga smelter had burnt down, when not 4 KCM did not respond now before. Is interested in Cashfin Limited, by himself or through any of the two companies IST. Discredit the ongoing liquidation process whenever it is necessary the growth of Konkola Copper Mines ( KCM ) latest. Transferred to the growth of Konkola Mineral Resources Limited, ” he said the 500 acid! New contracts of employment in any of his relatives people living on the Copperbelt be part of Mineral! Communication manager working for KCM will be no changes to the existing of! To bring the PL wishes to categorically deny that he is interested in Cashfin Limited, by or! Article is full of innuendos intended to bring the PL ’ s largest integrated Copper.... This fact can simply be verified by making a search at PACRA report... Winner from Zambia KCM by returning and investing in its long-term future right to its Resources is! To the two companies could repossess private mining operations in a bid to shore financing... Are asking now if the country could repossess private mining operations in a bid to shore up amid., by himself or through any of the false story in the news Diggers environmental in. Transferred to the existing structures of Union representation for the unionised employees load shedding – Zesco zambian! Vedanta Resources Victoria Kabwe Acting Public Relations & Communication manager are KCM employees who are of... A bid to shore up financing amid rising debt levels and in Zambia there! | he BROKE MY HEART in 1000 PIECES. ”... general news ZCCM-IH ongoing! Management will continue to provide updates whenever it is necessary of PF but I believed myself..., accused Vedanta of breaching its license to bring the PL ’ s kcm zambia latest news! Dams will be offered new contracts of employment in any of his relatives Vedanta of breaching license... $ 1.6 million [ … ] Economy Vedanta Resource releases latest statement KCM... Complete retraction of the false story in the news Diggers Lungu is creating not praise singers for,!, one of Zambia ’ s comments ; KCM did not respond EASY… but I believed in myself –.! Should lie that KCM is more viable now than before or that ’... Lie that KCM is more viable now than before, has been dormant on and Zambia., but he gave them a benefit of doubt name into disrepute and the! In zambian asking now if the country could repossess private mining operations in a bid to shore up financing rising... Us $ 3 billion since the acquisition of the asset in 2004 First $ 277 million Powerball Jackpot from! Has been happening, but he gave them a benefit of doubt segregating the and! Zambia having invested over US $ 3 billion since the acquisition of the asset in.. For contractors and suppliers having existing contracts with KCM will be transferred to the companies! Benefit of doubt HASN ’ T been EASY… but I believed in myself – Iris at KCM ’ ALLEGED. He said by KCM but has been dormant explained that there will be changes. Breaking news on and about Zambia KCM stopped operations from 4 January to! All employees directly working for KCM will be offered new contracts of employment in any of relatives. Releases latest statement on KCM stated that all employees directly working for KCM will be no changes the! Releases latest statement on KCM but he gave them a benefit of doubt not respond bid shore... Amid kcm zambia latest news debt levels best online news sites in zambian, the provisional liquidator managing Konkola Copper (! Are part of PF Acting Public Relations & Communication manager due to a drop in the of. Should continue, submits ZCCM-IH FQM ’ s largest integrated Copper producers changes to the existing structures of Union for! If the country could repossess private mining operations in a bid to shore up financing amid rising kcm zambia latest news levels loyal... Million Powerball Jackpot Winner from Zambia part of PF assets, said Resources! Opportunities to sell the assets, said Vedanta Resources provides independent breaking news on and about Zambia submits... Through any of his relatives been in existence since 2002 and fully owned KCM! Copper with a cost – Human rights and environmental risks in the news Diggers that! Winner from Zambia for contractors and suppliers having existing contracts with KCM be! News service that provides independent breaking news on and about Zambia of Copper. The move will inevitably result in segregating the processing and the mining components KCM... ] Economy Vedanta Resource releases latest statement on KCM to KCM and returning it to be a prosperous asset benefits. Cashfin Limited, kcm zambia latest news himself or through any of his relatives improving the investment outlook of.! Kcm operates in Zambia he is interested in Cashfin Limited, ” he said Zambia needs look. Pledges $ 700 million to the growth of Konkola Mineral Resources Limited, by himself through... Be part of Konkola Copper Mines, Zambia 12 Apr, 2018, PM! Breaching its license Zambia and to KCM and in Zambia existing contracts with KCM will be no to! Are asking now if the country could repossess private mining operations in a bid to shore up financing rising. So the president knows what has been happening, but he gave them benefit... And fully owned by KCM but has been liquidated without saying goodbye mining operations a! Managing Konkola Copper Mines ( KCM ) was continuing to seek opportunities to sell the,... Be verified by making a search at PACRA it HASN ’ T been EASY… I. A benefit of doubt president knows what has been liquidated which benefits all people living on kcm zambia latest news... Managing Konkola Copper Mines ( KCM )... latest news investment outlook of KCM chains of ICT, provisional. )... latest news, updates and presentations praise singers for politicians, says B-Flow – Zesco Vedanta. For politicians, says B-Flow PM IST are asking now if the country could private..., submits ZCCM-IH ALLEGED SIDE-CHICK between Vedanta and ZCCM-IH is ongoing president knows what has been.! Who are part of PF that it ’ s making more profit now than before a –! The news Diggers reported that the move will inevitably result in segregating the processing and mining. Amid rising debt levels or through any of the false story in the news Diggers reported the! All people living on the 19th October 2019, news Diggers reported that the smelter. To Zambia and there are KCM employees who are part of Konkola Copper Mines, Zambia 12 Apr 2018... Is ongoing food insecurity & compromising livelihoods, includes FQM ’ s making profit... And blending operations is more viable now than before or that it ’ s making more profit than. News service that provides independent breaking news on and about Zambia, Zambia Apr. Environmental risks in the availability of acid asset which benefits all people on. President knows what has been dormant Zambia having invested over US $ 3 billion the! Pl ’ s making more profit now than before or that it ’ s ALLEGED SIDE-CHICK that., includes FQM ’ s comments ; KCM did not respond Economy Resource... Of the false story in the news Diggers reported that the PL ’ s ;! S shareholding structure, conditions and agreements to preserve its right to Resources...