KCM to increase production
Posté: Dim 9 Juin 2013 17:30Konkola Copper Mine-KCM- has projected to increase copper production by 20 thousand metric tonnes under the current financial year ending March 2014.
KCM Chief Executive Officer Jeyakumar Janakaraj says his firm is focused on raising production after nearing the completion of key growth projects through its $2.7 billion investment.
He has explained that the company plans to systematically raise annual production by an average 20 percent at the flagship Konkola Deep Mine Project (KDMP) for the next 6-7 years, through the commissioning of the KDMP bottom shaft loading.
Mr. Janakaraj says finished copper production is forecast at 180,000 metric tones in the current Financial Year ending March 2014, up from 160,000 metric tones the previous financial year.
Meanwhile, Mr. Janakaraj saysKCM is keen to list on the Lusaka and London Stock Exchange one market conditions improve.
He says the priority now is to focus on the key issues of increasing production and reducing costs.
Mr. Janakaraj says the doubling of mineral royalty in 2012 hit KCM’s profitability by $40 million, which negatively impacted the company.
He says financial markets have been volatile and valuations of the company have not been right.
Mr. Janakaraj says KCM will not dilute shareholding for the sake of doing so unless it gets the right price.
This is contained in a statement released to ZNBC news by KCM Public Relations Manager Joy Sata.
KCM Chief Executive Officer Jeyakumar Janakaraj says his firm is focused on raising production after nearing the completion of key growth projects through its $2.7 billion investment.
He has explained that the company plans to systematically raise annual production by an average 20 percent at the flagship Konkola Deep Mine Project (KDMP) for the next 6-7 years, through the commissioning of the KDMP bottom shaft loading.
Mr. Janakaraj says finished copper production is forecast at 180,000 metric tones in the current Financial Year ending March 2014, up from 160,000 metric tones the previous financial year.
Meanwhile, Mr. Janakaraj saysKCM is keen to list on the Lusaka and London Stock Exchange one market conditions improve.
He says the priority now is to focus on the key issues of increasing production and reducing costs.
Mr. Janakaraj says the doubling of mineral royalty in 2012 hit KCM’s profitability by $40 million, which negatively impacted the company.
He says financial markets have been volatile and valuations of the company have not been right.
Mr. Janakaraj says KCM will not dilute shareholding for the sake of doing so unless it gets the right price.
This is contained in a statement released to ZNBC news by KCM Public Relations Manager Joy Sata.