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Alba Iulia
Monday, February 24, 2020

KCM will fulfill its 50-year vision to continue mining in Zambia

Economy KCM will fulfill its 50-year vision to continue mining in Zambia

Vedanta Chairman Anil Agarwal
Vedanta Chairman Anil Agarwal

VEDANTA Resources Plc, which owns Konkola Copper Mine (KCM), says it will fulfill its 50-year vision to continue mining in Zambia.

Vedanta chairman Anil Agarwal, who was speaking from London expressed commitment to their 50-year vision underpinned on the world-class and high grade ore body at the flagship Konkola mine in Chililabombwe.

This is according to a statement issued by KCM public relations and communications manager Shapi Shachinda.

The Vedanta founder and chairman was speaking during a live broadcast through a video link to more than 300 KCM employees, and about 5,000 in total from all Vedanta subsidiaries and businesses in 30 locations in five countries. Employees were able to ask Mr Agarwal questions.

He also spoke about his affection for Zambia and Vedanta’s long-term commitment to the country.

“Our main intention at the moment is to survive the current challenges. It is all about our determination to take our company forward. You need to work hard, cut costs and increase production. We have to be innovative,” Mr Agarwal told the employees.

He said Vedanta subsidiaries, including KCM, would continue to nurture young people into positions of leadership and that the company would also promote the ascendancy of women into leadership positions as it seeks to expand its asset portfolio as a diversified global resources company.

“I encourage all of you to remain ambitious for success, humble and hardworking. To find and recognise talent is the most important thing for us.

“Our success will be based on trust and honesty. I have seen a great passion from our employees at KCM and there is also great potential. We have done everything possible to develop this asset by investing over US$3 billion on processing plants and the mines,” Mr Agarwal said.

And Vedanta chief executive officer Tom Albanese, who is also KCM’s chairman, reiterated that a strong foundation had been created at KCM.

He said that there is so much enthusiasm about copper mining in Zambia and that everyone is passionate about the KCM 50-year vision.

Mr Albanese said companies which emerge strong from the downturn in mining are those that inevitably benefit most from the return to higher commodity prices.

“This,” he said, “is not the first time we have faced these challenges. I am optimistic we will come out stronger.”

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9 COMMENTS

    • Zambians are so forgetful. This is the man who boasted about making a profit of $500,000-plus per month from the Zambian mine when he made a televised public speech abroad. Now because the truth was the opposite and the streets are crowded with his ex-worker, and elections are around the corner, he’s hailed as a messiah – for fcusakes!

  1. It sounds good, but should also increase workers salaries and reduce the gap between the lowest paid and the highest paid employees.

    • @brother B…. let qualification determine the gap between the lowest and highest paid employees.

  2. GRZ needs to buy off some shares in KCM , atleast let this mine run on a 49% ZCCM-IH and 51% Indians so that even when issues of retrenching workers arises , GRZ should have a say. With the current trend of these foreigners owning 80% to 100% of our God given mines , all the profits fly to India or UK and Zambia remains with only the little mineral royalty taxes and pay as you earn from the workers. It is time our leaders started thinking about Zambians.

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