KCM gets business improvement plan

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LesCrozes

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Message Lun 3 Mar 2014 19:57

KCM gets business improvement plan

KCM gets business improvement plan

Government has in collaboration with Vedanta Resources PLC formulated a business improvement plan meant to address the operational challenges facing Konkola Copper Mines (KCM).
The formulation of a business improvement plan is as a result of the long discussions government held with Vedanta and Konkola Copper Mines over the operations of the mine.

Speaking during a media briefing this afternoon where the business improvement plan was submitted to government, Mines Minister Christopher Yaluma disclosed that the said plan has an inclusion of committed critical funding.

Mr. Yaluma says the funding is committed to greatly improve production and profitability of KCM, pay creditors and form a solid base for sustainable growth.

He says this also means that jobs at the Mine are also secured as KCM has also given an undertaking and commitment that there will be no redundancies as a result of implementing the business improvement plan.

And Vedanta Director for Corporate strategy Rahul Sharma says the cooperative and understanding approach that government and the Vedanta have had which has also resulted in the formulation of the business improvement plan for KCM goes to exemplify Zambia's strong position as one of Africa's most preferred investment destination.

Mr. Sharma reiterated Vedanta's full commitment to KCM's success.

He says Vedanta will also ensure that it does all that is necessary to build on its investments to make KCM a World Class Company.

He states that with the large capital investment in excess of 2.8 billion Unites States Dollars, a significant addition in reserves and resources and KCM's committed workforce, Vedanta is confident that Mining firm will remain a cornerstone in Zambia's vision of producing over 1.5 million tons of copper annually.
( Monday 03rd March 2014 )


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JLuc

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Message Mar 4 Mar 2014 10:12

Re: KCM gets business improvement plan

* Zambia Daily Mail

http://daily-mail.co.zm/blog/2014/03/04 ... g-workers/

KCM committed to growth, maintaining workers

March 4, 2014 • 0 Comments

By YANDE SYAMPEYO
KONKOLA Copper Mines (KCM) has formulated a business improvement plan which entails committing funding to improve production and profitability.
Minister of Mines, Energy and Water Development Christopher Yaluma said this follows the release of a report by the government technical audit committee which was evaluating the operations of the Vedanta-owned mining company.
Mr Yaluma, however, could not state the findings of the technical audit committee.
He told a media briefing in Lusaka yesterday that the mining firm is committed to paying creditors and forming a solid base for sustainable growth.
“Government shared the report with KCM and thereafter we engaged into extensive discussions to formulate a way forward to steer the company out of the current situation,” Mr Yaluma said.
He said KCM has assured Government that there will be no redundancies as a result of the implementation of the business improvement plan.
Mr Yaluma said Government greatly values KCM’s investment and its contributions to the economy.
“We would like to assure all investors in the mining industry that this government regards you as partners in this business and as such, dialogue and transparency as exhibited during engagement with Vedanta Resources on this issue,” Mr Yaluma said.
“In conclusion, I would like to thank the technical audit committee for a job well done and to KCM for their cooperation and commitment,” Mr Yaluma said.
And Vedanta Resource director of corporate strategy Rahul Sharma said KCM will remain a cornerstone in Zambia’s vision of producing over 1.5 million tonnes of copper annually.
Mr Sharma said the mining company, which has invested over US$2.8 billion, is committed to its workforce and to ensure the success of the mining firm.
“Vedanta resources remains committed to KCM’s success and will ensure it does all that is necessary to build on its investments, both people and assets to make KCM a world class company,” Mr Sharma said.
He said the cooperation between KCM and government exemplifies Zambia’s position as one of Africa’s most preferred investment destinations.
Mr Sharma said with the business plan, it is projected that copper production will increase between 10 to 15 percent annually.

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* MUVI TV

http://www.muvitv.com/vedanta-resources ... vestments/

Vedanta Resources Maintains Stance on Investments

By Editor - Mon Mar 03, 7:33 pm

Konkola Copper Mine KCMs parent company Vedanta resources has maintained its commitment to build its investment in Zambia.

Vedanta resources plc director for corporate strategy Rahul Sharma says the company is keen to provide employment and contribute to Zambia’s mining sector.

Speaking during a media briefing in Lusaka mines minister Christopher Yaluma has revealed that government and KCM have developed a business improvement plan to address various challenges the company is facing.

Recently zambia’s vice President Guy Scott revealed that KMC was involved in strange happenings and that the company had liabilities in excess of 1.5 billion US Dollars, adding that the company has not paid its creditors and repaid bank loans.

Retourner vers About Konkola KCM - Vedanta

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