KCM in financial woos

Konkola Copper Miner - KCM
Konkola Copper Miner - KCM

Management at Konkola Copper Mines KCM has admitted that the mining firm is going through a challenging financial position.

Meanwhile, the Mine Workers Union of Zambia MUZ has asked KCM to improve its image following recent protests in London.

KCM Acting Vice President Human Capital Prudence Chisakuta however, says KCM has put in place measures to resolve the financial woos.

Without outlining the financial challenges, Ms. Chisakuta says KCM has already outlined the measures to implement in the current financial year.

Ms. Chisakuta has observes that the London listed firm has a great future and is urging miners to increase production as this is the only way to prosperity.

The KCM acting Vice President for Human Capital made the remarks in Kitwe on Wednesday.

This was during the signing of the 2014 collective agreement between KCM and unions in the mining sector.

Meanwhile, KCM management has given all its unionized workers a Four Hundred kwacha supplementary allowance across the board.

The supplementary allowance is effective January 2014.

Earlier, MUZ President Nkole Chishimba says recent protests in London over KCM raised serious questions.

MUZ has since urged management to clearly define its future.

Mr. Chishimba has added that the 2014 collective agreement signed with KCM was not the best of agreements and described the process as difficult.

Three unions that include MUZ, the National Union of Miner and Allied Workers NUMAW and the United Mine Workers Union of Zambia UMUZ signed the agreement.