Zambia: KCM invests $2bn
By Nawa Mutumweno – Konkola Copper Mines (KCM) has invested about $2 billion since London-listed Vedanta Resources took over the Zambian mining firm in 2004.
According to KCM’s director of finance Vinod Bhandwat, the company has undertaken projects intended to expand its mining operations and increase production.
The company is proud to own the $440 million Nchanga Smelter which replaced the older Nkana Smelter and is the only one of its kind in Africa and only the third in the world.
The Nchanga Smelter in Chingola is a first-world benchmark that has greatly enhanced the air quality and reduced the incidence of acid rain on the Copperbelt. The smelter captures over 99% of all sulphur produced in addition to giving a scenic night view with its bright illumination.
“The smelter is just one among many new facilities at KCM. Others are the modern Konkola Concentrator, and the Nchanga Concentrator project currently underway,” Bhandwat enthused.
The mining company has also refurbished and doubled production capacity of the Nkana Smelter, while significant progress has been achieved at the Konkola Deep project.
KCM was committed to good corporate governance and has in place a robust corporate social responsibility (CSR) programme that is driven by a strong desire to make a difference in the communities where it operates.
To demonstrate its commitment, KCM spends about $15 million per year on health and other CSR programmes. The sponsorship of Zambian school leavers to universities and other tertiary institutions in India and other foreign countries to study mining-related subjects and other disciplines would continue.
Through sustainable livelihood programmes, the company has provided cows, goats and agricultural inputs to households and people’s lives have been improved.
