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Corporate Profile

Konkola Copper Mines Plc (KCM) is a leading integrated copper producer in Zambia. KCM is primarily engaged in the exploration for, mining, production and sale of copper and copper by-products.

KCM is a subsidiary of Vedanta Resources Plc (Vedanta), a London listed diversified metals and resources group with operations in India, Australia, South Africa, Namibia, Zambia & Ireland.

KCM aims to be a major global producer of finished copper. Its mining operations are located on the Copperbelt Province of Zambia. KCM’s fully integrated copper operations include open pit mines, underground mines, leaching plant, state-of-the-art flash smelter, a modernised refinery and a sulphuric acid plant. Its most significant competitive advantage is its position as one of the largest players situated on one of the highest-grade copper seams of the world.

The mines in the Copperbelt were initially owned by Anglo American Corporation and Roan Selection Trust. However, in the early 1970s the mines were nationalised. During the subsequent 20-year period, the government’s ownership of the mines was restructured several times.

In 1991, Zambia reverted to plural politics and the government embarked on an exercise to privatize parastatal companies, including the copper mines. By March 2000, the privatization programme of the largest mining assets was completed. Anglo American reacquired a 51 percent stake in Konkola Copper Mines, which comprised mining operations in Chingola, Chililabombwe and smelting and refining operations at Nchanga in Chingola and Nkana in Kitwe respectively. However, in September 2002, Anglo American withdrew as shareholders of KCM. This left a restructured company whose main shareholders were again government entities, ZCCM-IH and ZCI.

In November 2004, Vedanta Resources took a 51 percent stake to become the majority shareholder in the company. In 2008, Vedanta Resources increased its holding in KCM to 79.4 percent. Since its original acquisition, over $3 billion has been invested in KCM to upgrade equipment, build new facilities and expand capacity. The investments have increased reserves and resources, and also the life of the mines by over 25 years.

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