KCM invests US$2bn
Monday, 23 January 2012 11:28
Konkola Copper Mines (KCM) has invested around US$2bn 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. He says that the company is proud to own the US$440mn 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.
Bhandwat says that 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 per cent 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,” said Bhandwat.
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 is 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 US$15mn 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 will continue.
Through sustainable livelihood programmes, the company has also provided cows, goats and agricultural inputs to households to improve people’s lives.