Several media outlets have this morning reported that Konkola Copper Mines (KCM) has cut 133 jobs at its Nchanga operations.

KCM wishes to clarify the situation:

• Today 133 employees will be placed on recess, while the company undertakes a review of the operations in order to increase productivity and ensure future profitability.
• The employees have not been made redundant, but this option remains open given the economic conditions facing the company.
• The company has engaged fully with the Government and Unions, keeping them fully appraised of the situation.

KCM Chief Executive Officer, Steven Din, made the following statement today in relation to these developments;

“The global copper industry is currently experiencing very difficult business conditions.  This includes KCM.  Our clear objective is to return the company to profitability.

The decision to place 133 employees on recess today has been a difficult one and we understand that it will create distress for those involved and their families.  There is the possibility of the positions involved being made redundant, but this will not be done until all options have been fully evaluated.  In any case, we will ensure we provide all necessary support to the individuals involved.”

For further details contact:

Shapi Shachinda

Manager Public Relations & Communications

Mobile: 0978 871958