Konkola Copper Mine’s Nchanga underground Mine has been placed under care and maintenance effective Friday.
According to a joint statement by KCM management and the unions, all contracting firms operating at the mine will be released.
The move will also result in loss of 1,675 jobs and a further 825 over the next three months.
KCM management says the decision to place Nchanga underground Mine on a managed Care and Maintenance programme was arrived at yesterday after close consultation and dialogue with the three trade unions that represent KCM employees.
However, All pensionable KCM employees and permanent staff from the
Nchanga underground will be redeployed within the business.
During the period of managed care and maintenance, KCM will conduct a
technical review to evaluate the best way to resume operations when market conditions improve.
KCM says the lower copper price has forced the firm to take such a measure.
The statement further states that management and the unions have agreed that Nchanga underground Mine will be put back to life should the price of copper improve to break even levels.
Other KCM operations will continue as normal.