By 
President Hakainde Hichilema officially handed over Konkola Copper Mine (KCM) to Vedanta Resources on Wednesday, marking a new chapter for Zambia’s mining sector.
Addressing a gathering in Chililabombwe, President Hichilema urged Vedanta to swiftly increase production and make significant investments in the mine.
Read more: KCM exits liquidation, as court terminates proceedings, reinstates board
“This is a pivotal moment for the mining industry,” President Hichilema said. “At long last, the mine has been unlocked. We have walked through the path of unlocking KCM, navigating through challenges and obstacles, and now we are here.”
The President criticized the previous decision to place KCM in liquidation as a detrimental business move. He expressed satisfaction with the resolution, highlighting the positive impact it would have on Zambia’s mining sector.
Vedanta Resources, which has committed to investing US$1 billion over the next five years, plans to ramp up copper production to 300,000 tonnes annually.
Vedanta Chairman, Griffith, expressed gratitude to the Zambian government for the opportunity to manage KCM and reaffirmed the company’s commitment to turning it into a world-class operation.
“With this renewed support, we are determined to achieve 300,000 tonnes of copper per annum within the next five years,” Griffith stated.
He emphasized that Vedanta’s investment would significantly enhance mining operations and expand the mine’s capabilities.
Local community leaders also reacted positively to the handover.
Emmanuel Mundia, a clergyman from Chingola, welcomed the revival of KCM and called for the mining firm to prioritize the welfare of employees and the surrounding community.
Copperbelt region’s economy is expected to benefit significantly from the revival of KCM.
Copperbelt Minister, Elisha Matambo, praised President Hichilema for overcoming criticism and securing the mine’s future.
He noted that the return of KCM would create numerous business opportunities and stimulate economic growth in the region.
Commerce, Trade, and Industry Minister, Chipoka Mulenga, also highlighted the anticipated economic revival, stating that the resumption of full-scale operations at KCM would have a positive impact on Copperbelt’s economic landscape.
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