KCM to hold meeting with creditors – KABUSWE


By Paul Shalala

Mines Minister PAUL KABUSWE says Konkola Copper Mines -KCM- has called for a creditors meeting which will decided the modalities of payments to contractors and suppliers.

Mr. KABUSWE says the meeting is expected to happen within a week.

He says suppliers and contractors for Konkola Copper Mines will then be expected to start getting their payments within a month after the creditors meeting.

Speaking when he appeared on ZNBC TV1 Sunday Interview last night, Mr. KABUSWE said Vedanta Resources is currently preparing money amounting to 250 million United States dollars to clear the debt.

He said government is working with KCM and Vedanta Resources to ensure that all those who are owed are paid.

Mr. KABUSWE said the announcement on the commencement of the payments will be made in due course.

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