MOPANI PAYS ALMOST 100 PERCENT OF ITS DEBT TO CONTRACTORS AND SUPPLIERS
The Association of Mine Suppliers and Contractors has revealed that Mopani Copper Mines’ payments to its members are nearly at 100 percent.
In January this year, Mopani Copper Mines began settling overdue payments to contractors and suppliers following the influx of cash from ZCCM-IH’s new strategic equity partner in Mopani, International Resources Holding -IRH.
According to Association President Costa Mwaba, Suppliers and Contractors have been receiving weekly payments since then, with debts almost entirely cleared.
Mr. Mwaba says there are only two types of payments that have yet to be cleared which are the thirty-day invoices and legacy debts with legal concerns.
He has subsequently called on association members, and any suppliers and contractors who may not have received payment, to follow up, as documents show that the mine has nearly fully paid.