MOPANI STARTS PAYING OFF CONTRACTORS & SUPPLIERS

Mopani Copper Mines PLC has started clearing the outstanding payments to contractors and suppliers following the inflow of funding from ZCCM-IH’s new Strategic Equity Partner in Mopani, International Resources Holding (IRH).
The majority of the contractors, who had demobilised their equipment, have since started re-mobilising after receiving some payments, which have enabled them to also embark on clearing their obligations to their employees.
Speaking when he met the contractors and suppliers in Kitwe, Mopani Chief Executive Officer, Mr. Charles Sakanya and Mr Ravi Sharma, the representative of IRH, stated that the company had set a target to significantly reduce outstanding obligations during the first quarter of 2024.
“I wish to profoundly thank all of you [our contractors and suppliers] for standing with us as true partners over the past four years to ensure Mopani survived. You demonstrated true partnership and resilience with your ‘never-say-die’ spirit. Now it’s time to work together and make Mopani successful,” Mr. Sakanya said.
“The remainder of the overdue payments will be settled in instalments over the next few months. The plan is to work hard to meet set targets safely and cost-effectively.”
The Association of Mine Suppliers and Contractors of Zambia president, Mr. Costa Mwaba, commended Mopani for prioritising the payment of outstanding dues to the local vendors, which he said would play a key role in bringing life back to the Copperbelt and the country as a whole.
“We take this opportunity to commend you for the job well done under very difficult circumstances. We can see the smiles returning on the faces of our people in Kitwe and Mufulira as well as the whole country as payments continue to flow to the suppliers and contractors. This is very good news for the country, which will have a positive impact on the performance of the economy” Mr. Mwaba said.