Vedanta Resources Chairman outlines commitment to Zambia
March 24, 2017
Lusaka; 24th March 2017: His Excellency President Edgar Chagwa Lungu, met today with Vedanta Resources Chairman, Anil Agrawal. The meeting took place at State House in Lusaka. His Excellence the President and the Chairman discussed the outlook for the global mining industry and Vedanta’s investment in Konkola Copper Mines plc (KCM), one of Zambia’s largest integrated copper producers.
Vedanta’s Chairman outlined his 50-year vision for mining in the Copperbelt and his plans for investing another $1billion for the next phase of growth. This investment is expected to create 7,000 jobs. He said, ‘’I want KCM to be the largest integrated copper producer in Africa, the pride of Zambia and Vedanta’s hub for copper and cobalt production in Africa.’’
‘’The ramp up of Konkola is the centerpiece of my 50-year vision for KCM. It’s technically very challenging, because of the massive amount of water we have to pump out of the mine, but I’m determined to find technical solutions,’’ Mr Agarwal said.
Vedanta’s Chairman announced his commitment to further help diversify the economy of the Copperbelt by supporting initiatives in agriculture and technology. KCM currently supports 2,700 families and small scale farmers through its Sustainable Livelihoods programme.
Vedanta’s Chairman was accompanied by Tom Albanese, CEO of Vedanta Resources and Steven Din, CEO of KCM.
Notes to Editors:
Vedanta Resources plc is a London listed diversified resource and mining company which owns 79.4% share of Konkola Copper Mines plc, which operates underground mines and open pit mines as well as metallurgical plants at Nchanga, Konkola, Nkana and Nampundwe.
Konkola Copper Mines (KCM) is one of Zambia’s largest copper producers, with mining operations in Chingola, Chililabombwe, Kitwe and Nampundwe. KCM is a subsidiary of Vedanta Resources plc (“Vedanta”), a London-listed diversified global natural resources company. The group produces aluminium, copper, zinc, lead, silver, iron ore, oil & gas and commercial energy. Vedanta has operations in India, Zambia, Namibia, South Africa, Ireland and Australia. With an empowered talent pool globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of trust, sustainability, growth, entrepreneurship, integrity, respect and care. For more information on Vedanta Resources, visit www.vedantaresources.com. The state-owned ZCCM-IH holds a signi¬ficant shareholding (20.6%) in KCM. Since 2004, KCM has invested almost US$4 billion to upgrade and expand company assets. KCM is one of the largest private sector employers in the country and maintains one of the most comprehensive corporate social investment programmes in Zambia, focused on four pillars – education, health and sustainable livelihoods and sport.