By NATION REPORTER
KONKOLA Copper Mines (KCM) has prioritised the purchasing of equipment to ensure the firm remains viable and continues to run until the issues surrounding provisional liquidation are resolved.
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KCM Provisional Liquidator, Celine Nair said at the commissioning of two front-end loader mining equipment in Nampundwe Mine yesterday that running a mine was not a cheap feat and having reliable equipment made mining easier, safer and more productive.
Ms Nair said KCM had to formulate ways of reducing production costs while improving efficiency in the production process and one way was the purchase of two front end loaders.
She said from 2020 Nampundwe Mine had operated without its own front end loaders and hired two loaders between June 22, 2021 to June 2023 at a cost of US$717, 879.62 to ensure continuity of production.
“After an evaluation, management agreed this was increasing the cost of production for the mine and decided to buy the two machines at a cost of US$131,035 this month,” she said.
She said buying the machines had multi-pronged benefits for the company and the country’s economy.
Ms Nair said the new machines would reduce costs associated with purchases of spare parts and repairs in the short term, there by increasing equipment reliability, availability and efficiency which were vital for increased production.
“Nampundwe Mine is central to KCM as it produces Pyrite an important mineral in the copper smelting process at the Nchanga Smelter in Chingola. Increased production of Pyrite will cause a ripple effect leading to an increased production of copper and acid at the smelter. The export of copper is beneficial to the Treasury of the nation through much needed foreign exchange earnings,” she said.
Ms. Nair explains that, purchasing the machines had multi prolonged benefits for the company and the economy of Zambia at large.
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