By Staff Writer
Konkola Copper Mines (KCM) Chief Financial Officer Giridhar Venkatesan has said that the company will continue to mine in its areas of operation.
Mr Venkatesan said KCM would focus vigorously on lifting the Konkola Deep Mine (KDMP) to the next level of production.
He was speaking in Lusaka during consultative and information exchange, meetings with the Ministers of Finance and Mines and Minerals Development, focusing on the implications of the tax measures introduced in the 2019 national budget.
He said that the Vedanta Group was passionate about the success of KCopper Mines and the security of employment tenure with “due care and compassion for the citizens of Zambia.”
Mr Venkatesan also informed the high-level Zambian Government team that there would be no loss of jobs at KCM in the wake of the new tax regime.
“As KCM, we undertake to constructively engage key stakeholders such as the Government, trade unions, the media, local communities, and our shareholders, in a respectful manner to ensure that we contribute to the growth of the economy on a sustained basis,” he said.
He echoed Vedanta Group CEO Sri-nivasan Venkatakrishnan’s sentiments during his visit in early 2019 that the approach required to boost production was to invest further in the development of the Konkola Deep Mine in Chililabombwe within the next 3 years, which would unlock resources required for processing at the Nchanga Smelter.
Finance Minister Margaret Mwanakatwe thanked KCM for choosing the path of dialogue and for the proactive approach in reviewing mine operations and ensuring compliance, sustaining job creation as well as contributing to the country’s growth.
Ms Mwanakatwe stated that the assurance made by the company to complete the development of long-term ventures such as the Konkola Deep Mine within the next 3 years was uplifting.