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WE SAVED KCM – MUSUKWA
…says high indebtedness, insolvency and a burden of US$2.5 billion liabilities compelled the PF government to liquidate KCM to save it from total collapse
…says high indebtedness, insolvency and a burden of US$2.5 billion liabilities compelled the PF government to liquidate KCM to save it from total collapse
BY NATION REPORTER
KONKOLA Copper Mine (KCM) was threatened with insolvency as a result of its high indebtedness, with a burden of US$1.567 billion in liabilities, exceeding its total assets about US$123 million and could only be salvaged from total collapse through liquidation, Richard Musukwa has disclosed.
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