The Relaunch of Konkola Copper Mines "BWACHA TUBOMBE" Yesterday, H.E President Hakainde Hichilema, officially relaunched Konkola Copper Mines (KCM) under the new partnership with Vedanta Resources Limited. This marks a significant milestone for KCM and Zambia's mining industry. In November 2023, the Government through ZCCM-IH signed a shareholder’s agreement with Vedanta Resources, after a 5-year legal battle. Vedanta is committed to invest over $1 billion to revive mining operations and make advancements in the Konkola deep mining project. This investment will increase KCM’s copper production to 300 000 metric tonnes per annum, contributing to Zambia’s target to produce 3 million metric tonnes of copper over the next 10 years. Last month, the KCM Board of Directors were reinstated and $245.75 million paid to creditors. KCM boasts of having one of the largest copper ore deposits of 250 million metric tonnes, with high-grade (in excess of 2.4%) in the world. #ZCCMIH #InvestingSMARTLY
Increased copper production benefits the mining industry by boosting output, which can lead to higher revenues and economic growth. For instance, the relaunch of Konkola Copper Mines under a new partnership aims to increase copper production to 300,000 metric tonnes per annum. This contributes to Zambia's target of producing 3 million metric tonnes of copper over the next decade, enhancing the industry's overall capacity and profitability. ZCCM Investments Holdings Plc
Moving forward! although is unbelievable that creditors where a part of this legal battle for the last years. Shouldn’t not have effected any of the creditors involved!
JOB creation and revamping poverty at 0% rate is when government realises its obligations and responsibility to its people. Enhancing development and fighting against job creation are key objectives of every government. Therefore, the re-opening of the Konkola Copper Mines on the Copperbelt Province is a key and most vital move taken by government. IT IS, therefore, still a prayer that the mine shall operate effectively as it is the only source of income generating machinery to the people on the Copperbelt....
Ajay Dadpe
3w
This is great news. Congratulations ZCCM and Vedanta. Thanks Mr President. Captive Power , KDMP Expansion and Some other expansion projects (Viz.. at Nchanga Mines, Refinery Project, Cobalt and lot of debottlenecking projects) is the key that would see the desired transition at KCM. Serious Investments and Lot of Action on ground.
Daniola
2w
Great opportunity for Zambia! The restart of KCM and Vedanta's investment will make a huge difference. Excited to see how it will benefit the local community and the whole country.
Chiti Mwamba
3w
Congratulations to all involved this is a powerful step towards unlocking the full potential of Zambia’s vast mineral wealth.
Well done!
Congratulations to KCM and Vedanta team for untiring efforts to finally bring back KCM in it's fold for high growth and brighter future
Chairman
3wDoes ZCCM have people working and stationed at each mine or they just receive reports in lusaka ?