Vedanta Chairman Anil Agarwal outlines KCM long term growth plan
April 16, 2018
CHINGOLA, 16 April 2028: Chairman of the London-listed Vedanta Resources Plc, the majority shareholder of Konkola Copper Mines (KCM), Anil Agarwal, has told employees to feel secure and understand that the company cares for them as it rolls its “Path to Growth” to boost copper production.
Mr Agarwal said at a Town Hall meeting in Chingola, which was beamed live via video link to all Vedanta operations, that the global diversified minerals and resources giant would explore ways to introduce a stock option plan to empower employees once KCM hits the right production levels.
Mr Agarwal said: “Employees should feel secure and know that the company cares for them. I have said that our people should not spend their salaries on buying a house. I am looking at a stock option if we do things right, make our production good, keep our environment good and our governance good. Our community social investment will be better than others.”
“We have the passion and with the right expertise and determination, we can achieve our production targets” Mr Agarwal said in reference to KCM’s plans to lift production to 400,000 metric tonnes per annum in the next few years.
The Chairman told employees that he had assured the Government about Vedanta’s commitment to continue mining in Zambia for the next 50 years, and reiterated the assurance to the employees too.
The Chairman said KCM had potential to be ‘the best company in terms of copper production in Zambia,’ adding that, “KCM is a large asset with a lot of potential. I have spoken with Management to come up with projects where each employee can participate fully and contribute positively to the company’s record of achievement.”
Mr Agarwal said Vedanta was continually looking for opportunities to contribute positively to growth and transformation of the Copperbelt. He said that the company would continue to develop young talent and invest in communities through KCM’s expansive corporate social responsibility programmes anchored on education, health, poverty alleviation programmes and sport.
During his two-day visit, the Chairman had talks with President Lungu, President Kovind, and the President of Botswana Mokgweetsi Masisi, who was also visiting Zambia. He also met with the Minister of Mines and Minerals Development Honourable Richard Musukwa and the Copperbelt Minister Honourable Japhen Mwakalombe. He also met several government officials, including the Mayor of Chingola Titus Tembo and District Commissioner Mary Chibesa, where he reaffirmed Vedanta Resources Group’s commitment to Zambia.