KCM Announces Plans To Shut Down Nchanga Smelter In July And August
Konkola Copper Mines Plc (KCM), based in Zambia, announced in a statement on Tuesday 17.01.2023 that it will be shutting down its Nchanga smelter for 45 days between July and August in order to upgrade the infrastructure.
According to the statement, KCM will invest $27.63 million in the process, which will encompass a control system upgrade for the smelter, which has a capacity of 311,000 tonnes per annum.
The shutdown will be beneficial for the smelter operations as it will improve efficiency and production, resulting in increased revenue for KCM and its subsidiary, the KCM SmelterCo Limited, the statement said.
KCM’s priority is to maintain the asset’s well-being in order to preserve jobs as the government searches for a permanent solution for KCM, it said.
The government of Zambia holds a 20% stake in KCM through state-owned mining investment firm ZCCM-IH. In 2019, control of KCM was transferred to a liquidator by the previous government, causing a conflict with Vedanta, the holder of the remaining 80% ownership.
