31 July 2012

Zambia: KCM Wins Kudos From Shamenda

GOVERNMENT has praised Konkola Copper Mines (KCM) for embarking on an expansion programme in its operations beyond the mining licence area.

KCM has opened a corporate centre in Lusaka on Thabo Mbeki Road to allow business and strategy to expand as the mining giant continues to grow.

Labour and Social Security Minister Fackson Shamenda said the Government would continue to promote an enabling environment and legislation to facilitate the growth of Zambia's economy.

Mr Shamenda was speaking yesterday during the opening of the centre.

The minister assured the mining sector that the Government would support progressive ideas to encourage more Foreign Direct Investment (FDI).

"It is my sincere hope that the newly-opened office will be used to achieve goals and aspirations of KCM as the company drives its expansion programmes beyond borders," he said.

Mr Shamenda urged KCM and other mining companies to collaborate with the Government to train young Zambians in critical technical skills.

KCM chief executive officer, Jeyakumar Janakaraj said the setting up of an office in Lusaka reflected the company's commitment to promoting interaction with various partners.

Mr Janakaraj said the corporate centre was established to allow the business and strategy group of KCM to expand as the company continued to grow.KCM, which is majority-owned by London-listed Vedanta Resources Plc, plans to develop new copper and cobalt projects in line with the vision of the parent company.

Mr Janakaraj said there would have to be higher productivity in several sectors, including mining, for Zambia's economy to sustain its growth.

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