LUSAKA, 6th May 2021: Konkola Copper Mines (KCM) plc learns with a sense of shock that Bloomberg has published a misleading article concerning the operations of KCM and its two subsidiaries in which it suggested that KCM operations at the Konkola Deep mine have been shut down.

Ever since the mine was placed under liquidation in May 2019, it has not been closed or put on care and maintenance and the Bloomberg article is false and misleading. Konkola mine is currently operating and there are no plans to put it on care and maintenance now or in the future. Placing a mine under care and maintenance is a public and legally prescribed procedure. This procedure had not been invoked and we have no plans to invoke it.

To the contrary and in addition to current operations KCM is about to commence mining in a new area of Konkola known as Konkola East. The favorable prices have made it economical to open up new areas.

KCM demands a retraction of the misleading Bloomberg article.