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Ven 23 Avr 2010 07:04
There were enormous challenges in opening KDMP, says Agarwal
By Kabanda Chulu
Fri 23 Apr. 2010, 03:50 CAT [36 Reads, 0 Comment(s)]
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VEDANTA Resources Plc Chairman Anil Agarwal has said many investors thought that opening up the Konkola Deep Mining Project (KDMP) was a big task because it was considered as one of the wettest mines in the world.
During the official commissioning of the KDMP phase one in Chililabombwe and the Nchanga Smelter in Chingola, by President Banda, Agarwal said there were enormous challenges the company had succeeded.
Vedanta Resources is KCM’s holding company.
“Despite the enormous challenges, this is a great moment for us to see that the mine has come on board and the commissioning of this shaft presents the biggest step towards attainment of peak-production levels reached in 1970’s of above 750, 000 tonnes of production,” said Agarwal.
And KCM chief executive officer Kishore Kumar said the commissioning of the KDMP and new smelter was ‘sign post’ for better things to come to the Zambian mining industry.
“We are on course to produce 500,000 tonnes of finished copper by 2012 and currently we are working various projects that will ensure that we increase our capacity to hoist-ore from underground,” said Kumar.
And Indian High Commissioner to Zambia Ashok Kumar said KCM had invested US $ 1.6 billion from 2005 on new projects whose figure would increase to US $ 3 billion upon completion of all projects.
“These commissioning are some of the significant Indian investments in the country and we are collaborating on energy projects to boost power and various trade and technical bilateral agreements,” said High Commissioner Kumar.
And President Banda said the mining sector remains Zambia’s key source of economic growth with 15.9 per cent contribution to GDP in 2009 and over 80 per cent of foreign exchange earnings and over 40 per cent of the total formal employment. President Banda said the Zambian mining sector was growing but little progress had been done to add value locally to copper hence thousands of Zambians were denied jobs.
President Banda has urged Konkola Copper Mines (KCM) and other mining companies in the country to amicably resolve differences of delayed payments with mine suppliers and contractors in order to enhance economic development.
“The mining sector is growing and Zambia is on course to recapture its former status as one of the leading copper producers in the world and it is the wish of everyone to see that this translate into improved well being of all Zambians,” President Banda said.
“The challenge that remains is that of value addition while copper production is increasing, very little progress is been made to add value locally to the commodity to enhance the benefits accruing to the nation. Export of raw copper means export of thousands of jobs meant for thousands of Zambians, I therefore, urge the private sector to take up the challenge and establish industries that will add value.”
He said government would continue supporting projects such as the KDMP and new Nchanga smelter by creating environment that encourages long-term investments so that more Zambian could get employed.
“My government has demonstrated this support by continually reviewing policies to create the right environment for both local and foreign investors to take advantage of the abundant natural resources that this country has,” President Banda said.
President Banda said he had received complaints from suppliers to the mines of delayed payments.
“Given the small size of operations of most suppliers, this has negatively impacted on their ability to expand their businesses and I am urging the management of KCM and other mines to quickly resolve any differences that you maybe having with the suppliers,” he said.
