CLOSURE OF KAGEM MINE WORRIES LOCAL BUSINESS COMMUNITY AS SUPPLIERS AND CONTRACTORS BRACE FOR IMPACT
The Association of Mine Suppliers and Contractors says the six-month closure of Kagem Mine in Lufwanyama has worried the local business community, with many suppliers and contractors bracing for impact.
Association president Costa Mwaba says Kagem Mine is a significant player in the local economy, with numerous contractors providing essential services such as labor, diesel, and oils but will now have financial challenges as the mine goes on a long recess.
Mr. Mwaba tells Phoenix News that the mine’s closure will have a ripple effect on these businesses, especially those in Lufwanyama, Kalulushi and Kitwe which rely exclusively on kagem for their livelihood.
He also says the abrupt announcement allegedly coerced by an unfavorable emerald global market, has also disrupted any business planning for the first quarter of 2025.
Mr. Mwaba has since called on government to provide guidance and clarity on the situation while providing interventions and support to affected businesses.
PN
Ba Mwaba, you are businessmen. What do you expect the government to do? Put you on their payroll? It is your responsibility to figure out how your business will survive the lull before Kagem commences business again, if ever.
Your business strategy should include responses to such challenges.
The government is struggling with the drought and that is more than a plateful.