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KCM realises 30-year old dream By BEN PHIRI and GIDEON THOL
By BEN PHIRI and GIDEON THOLE
THE 30-year long-awaited Konkola Deep Mining Project (KDMP) in Chililabombwe was launched yesterday, signalling the implementation of significant investment in mining that is expected to increase KCM’s copper production by 500,000 tonnes per annum in the near future.
KCM has spent almost US$1.6 billion in capital investment on its various projects that include the new concentrator at Konkola and the modern direct-to-blister smelter in Chingola, which was also officially opened yesterday.
The phase one project, which was launched by President Rupiah Banda amid pomp and splendour, will produce a total of 500,000 tonnes of copper per annum and generate employment for hundreds of Zambians.
Commencement of the mid shaft loading at KDMP moves the Zambian mining industry closer to an exciting future for Konkola Copper Mines (KCM) and the country, inspiring fresh and renewed confidence in the future of copper mining, especially on the Copperbelt.
The project, which was commissioned alongside the Nchanga smelter with an installed capacity of 311,000 tonnes of copper per annum, will add value to the ore produced at KDMP.
The KDMP represents the future of Zambian mining and the millions of tonnes of rich copper ore waiting to be exploited will contribute greatly to the development of the country’s economy.
In addition, the project is also expected to increase more business opportunities to many local suppliers who would also create more employment opportunities.
Yesterday’s event was in the shadow of one of the tallest headgears in the mining world, emanating from dedicated hard work as well as through the support of the Zambian Government which has put in place favourable investment policies to attract more investments to the country, solely dependant on copper exports.
President Banda, who was excited about the project, commended the KCM holding company, Vedanta for taking the bold step to invest in KDMP and continuing with the project even during the global recession, especially when the prices of copper were at their lowest ebb.
The president was particularly happy to see the realisation of the project which had been on paper for a long time.
“My Government will continue to support such projects by creating an environment that encourages long term investment so that more of our people can get employed,” Mr Banda said.
Currently, KCM employs a total of 20,000 workers who include contract employees, but once the KDMP project is completed, an additional 1,000 jobs would be created.
He emphasised the need for all the stakeholders to guard the project jealously to ensure economic and social gains from the project.
The president said the Government would continue to demonstrate its support by continually reviewing policies aimed at creating the right environment for both local and foreign investors to take advantage of the abundant natural resources that the country has for it to continue improving the lives of Zambians.
Indian High commissioner to Zambia Ashok Kumar, said the occasion represented India’s interest in one of the significant developments in Zambia’s mining industry.
“KCM represents the largest single investment in Zambia by an Indian company in the history of bilateral relations between the two countries that can be traced back to the pre- independence era,” he said.
Vedanta chairperson Anil Agarwal thanked the Government and the people of Zambia for the support and encouragement Vedanta has received over the project.
Mr Agarwal said developing KDMP mid shaft loading, was one of the major undertakings Vedanta made to the Zambian Government in 2004.
The KDMP would improve the status of the country’s production capacity which stood at 750,000 tonnes during the 1970s and the launch represents a major step towards such a realisation.
Mr Agarwal said Vedanta was committed to contributing to the country’s development through undertaking major mining developments such as the KDMP, which was one of the biggest mining projects implemented by Vedanta and the Zambian Government.
“It enables KCM to significantly increase its rock hoisting capacity, a major step in KCM’s bid to play an even bigger role in Zambian’s quest to produce one million tonnes of copper per year in the near future. In the quest of the above, all that KCM has earned and more has been invested in KCM’s US$2billion investment todate,” Mr Agarwal said.
The opening of the KDMP comes with the latest technology needed to transform Zambia into a developed country.
He said the route being taken by Vedanta and the Zambian Government was similar to that taken by Chile and Brazil which had been transformed from developing countries to the world’s leading mining countries.
KCM chief executive Kishore Kumar said the commissioning of the KDMP was a signpost to a future loaded with exciting opportunities for growth.