KCM boasts of $2bn investment

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Inscription: Jeu 30 Juil 2009 16:48

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Message Mer 21 Déc 2011 14:46

KCM boasts of $2bn investment

By Misheck Wangwe in Kitwe
Wed 21 Dec. 2011, 13:59 CAT


KONKOLA Copper Mines says it has invested about US$2 billion since Vedanta Resources took ownership of the mine in 2004.

Speaking at the Christmas carols night in Chingola, KCM director of finance Vinod Bhandwat said the company had undertaken projects intended to expand its mining operations and raise production.

Bhandwat said the company was proud to own the US $440 million worth 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.

He said the Nchanga Smelter in Chingola was a first-world benchmark that had greatly improved the air quality and reduced the incidence of acid rain on the Copperbelt.

Bhanwat said apart from the smelter giving a scenic night view with its bright illumination, it captures over 99 per cent of all sulphur produced.

"The smelter is just one among many new facilities at KCM. Others are modern Konkola Concentrator, and the Nchanga concentrator project currently underway," he said.

Bhandwat said the mining company had also refurbished and doubled production capacity of the Nkana smelter, while significant progress had been achieved at the Konkola Deep project.

He said KCM was committed to good corporate governance and had in place a corporate social responsibility programme that was driven by a desire to make a difference in the communities where it operates.

Bhandwat said to demonstrate its commitment, the company spends about US $15 million annually on health and other corporate social responsibility programmes.

He said 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.

"We will keep on supporting government schools in many ways, including provision of computers to improve computer literacy. Since 2008, we have given out over 400 computers to government schools," Bhandwat said.

He said through sustainable likelihood programmes, the company had provided cows, goats and agricultural inputs to households and people's lives had been improved.
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Messages: 4998

Inscription: Jeu 30 Juil 2009 19:54

Message Mer 21 Déc 2011 15:12

Re: KCM boasts of $2bn investment

Pour rappel Kdeep : "completion by the third quarter of the 2012 financial year"

Retourner vers About Konkola KCM - Vedanta

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