VEDANTA KCM TAKE OVER, OUR EXPECTATIONS
Employment Opportunities: It is expected that over 8000 employment opportunities are earmarked to be created by 2024. This figure is in stark contrast to the 2000 employees contracted.
Operating at full capacity, KCM has the potential to create more than 15000 direct and indirect employment opportunities. Worthy of note is that Vedanta Resources Zambia has pledged to invest over 1billion USD in mine development and recapitalization, which deems the target of 8000 employees by 2024 as plausible.
Business Opportunities: As Vedanta Resources returns, the company must demonstrate a commitment to supporting local suppliers and contractors so as to promote local trade and commerce. We also expect the government to take a keen interest in ensuring Vedanta Resources adheres to its pledge to support local businesses.
Commerce and Trade : We expect exponential growth in commercial activity, most particularly on the copperbelt. This is being attributed to the expected increase in liquidity as a result of the business opportunities that will be offered by KCM.
Foreign Earnings : Mining is our largest foreign currency earner and accounts for up to 80% of our GDP. This follows that foreign earnings will tremendously increase as a result of the expected increase in copper production and exports.
Coporate Social Responsibility: Vedanta Resources has pledged an investment of over $20 Million in corporate social responsibility programs, that will focus on critical sectors such as agriculture, educational scholarships, health and sports development. This development is a game changer for Copperbelt communities where KCM operates.
3 Million Metric Tonnes Copper Production Target by 2031: The only way for Zambia to achieve the 3million metric tonnes target is to ensure KCM is operating at its optimum level. KCM has the potential to contribute well over 500 000 metric tonnes towards the target per annum.
Mining Sector Development: Our vision as ANDD is to have indeginous Zambians fully operating and managing mines, that journey starts now and is achievable through strategic partnerships with foreign investors who have the technical expertise, knowledge, skills, technology and financial capacity. The objective is to ensure capacity building and skills transfer.
Vedanta Resources: Vedanta Resources is a global mining giant. Its the sixth largest global natural exploration firm. It has a strong technical and financial capacity to operate KCM efficiently whilst effectively contributing to our national development.
Vedanta Resources has shown resilience and commitment to revamp KCM not just to make profit but also to contribute to our national development.
Our appeal to Zambians and stakeholders is that let us support and welcome Vedanta Resources with two hands and work together to help in revamping KCM as it is our national strategic investment asset. It will not just take Vedanta alone to revamp KCM but the collective hardwork and efforts of every Zambian.
Advocates for National Development and Democracy
Executive Director
Samuel Banda