
KCM still owed US$10 million in VAT returns, refuses to disclose jobs to be lost
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Mon, 16 Nov 2015 || Zambia,
Konkola Copper Mines (KCM) is still owed over US$10,000, 000 in outstanding Value Added Tax (VAT) returns dating back to August 2013.
And KCM has refused to disclose how many people will lose jobs due to the on-going job losses in the mines.
KCM Chief Executive Officer Steven Din said Monday morning that KCM has only been paid for a period of six months this year.
He further said that the mining firm was losing over US$2 million per month in operational costs due to low production.
He however refused to comment on the impending job loses citing ongoing consultations with stakeholders.
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