KCM Board appoints Tom Albanese as Chairman
October 21, 2014
LUSAKA, 20th October 2014 – Konkola Copper Mines, the subsidiary of London-listed Vedanta Resources Plc, today announced the appointment of Tom Albanese as its new chairman. Mr. Albanese takes over from Mr. Navin Agarwal.
Speaking during his inaugural board meeting in Lusaka, Mr. Albanese said: “I am humbled with the confidence shown in me by the Vedanta & KCM board of directors. It is my commitment to help KCM fulfill its vision to become a significant global copper producer and continue to play a major role in developing the Zambian economy that will enable the citizens of this country to continue to benefit from their natural resources.”
“After 10 years of operating in Zambia and investing nearly $3 billion at our operations, KCM has built a foundation which will enable it to grow for the next 50 years. During this time, we will maintain our focus on developing the skills of our Zambian workforce and nurturing our communities. Our vision is to be in Zambia for the next 50 years,’ Mr. Albanese said.
Mr. Albanese said that ramping up operations of the flagship Konkola Deep Mining Project (KDMP) would be the top priority for KCM.
Since Vedanta’s takeover of KCM in 2004, nearly $3 billion has been invested to construct a new state-of-the-art smelter and three new concentrators, expand and upgrade the Nkana Refinery and Nchanga Tailings Leach Plant, and develop the country’s deepest mine shaft at the Konkola Deep Mining Project (KDMP) in Chililabombwe.