Konkola Copper Mines Temporarily Shuts Down Operations After Second Fatality
Konkola Copper Mines (KCM) has announced a temporary shutdown of several operations following the second fatality in less than a week. In response to these incidents, KCM will conduct stand-downs across its mining and processing plants in Chingola, Chililabombwe, Nampundwe, and Kitwe for specified periods. These shutdowns are intended to facilitate thorough reviews of safety procedures and mitigate the risk of further accidents. According to KCM's Corporate Affairs Department, Daka's body was found near his dump truck, and investigations into the circumstances surrounding both fatalities are ongoing.
The recent fatalities have raised significant concerns regarding KCM's safety practices. Both internal and external investigators are working to determine the causes of these incidents. The temporary suspension of operations in major mining areas may impact Zambia's copper production targets, particularly if the shutdowns are prolonged. The safety stand-downs could delay output from key sites such as the Chingola Open Pit, where high copper yields are anticipated. Although KCM has not disclosed specific figures on the potential production impact, the company has emphasized that ensuring worker safety remains the top priority.
In July, Vedanta Resources announced that it had regained full control of KCM after beginning to settle $245 million in creditor claims owed to suppliers. The Zambian government retains a 20% stake in KCM through ZCCM-IH. KCM plans to significantly increase its production, targeting an annual output of 300,000-500,000 tonnes of copper and over 6,000 tonnes of cobalt, up from the current 70,000 tonnes. The primary focus will be on the Konkola Deep Mining Project (KDMP), which is known for its rich copper deposits. This expansion aligns with the Zambian government's goal to raise copper production to 1 million tonnes by 2027 and 3 million tonnes by 2030, as outlined by Finance Minister Situmbeko Musokotwane.
Zambia's copper production has faced several challenges recently, including a 2.9% month-on-month and 18.8% year-on-year decline to 60,257 tonnes in July 2024, according to the latest economic report from the finance ministry. In 2023, copper production fell by 8.5% year-on-year to 697,790 tonnes, with recovery anticipated this year. However, ongoing power shortages caused by drought have prompted the International Monetary Fund (IMF) to revise Zambia's GDP growth forecast down to 1.2% for this year, potentially hindering the country's efforts to boost copper production.
