President Hichilema Officially Hands Over KCM to Vedanta Resources
Konkola Copper Mines (KCM) has been officially handed back to Vedanta Resources, marking the beginning of a new chapter for both the Copperbelt region and the nation.
At the re-launch ceremony in Chililabombwe, President Hakainde Hichilema emphasized the importance of resolving disputes through dialogue rather than legal battles, commending Vedanta Resources and the government for negotiating a successful outcome. He described the handover as a “new chapter for KCM” and expressed optimism about the future.
President Hichilema highlighted that KCM’s revival under Vedanta will create jobs for Zambians and expand the country’s tax base, directly benefiting local communities and contributing to national development.
He also thanked the people of the Copperbelt for their patience during the challenging period leading up to this moment.
Chris Griffith, CEO of Vedanta Resources, reaffirmed the company’s commitment to restoring KCM to its former prominence. He pledged that Vedanta is ready to reinvest in the mine and bring it back to peak operation.
Mines Minister Paul Kabuswe expressed deep personal satisfaction with the handover, viewing it as a major achievement in his role.
Copperbelt Minister Elisha Matambo echoed these sentiments, praising the President’s efforts to rejuvenate the mining sector in the region.
ZCCM-IH CEO Ndoba Vibetli expressed satisfaction with the resolution of previous disputes, which allowed the mine to be revived. The collaboration between ZCCM-IH and Vedanta was essential to KCM’s resurgence.
Youth representative Chileshe Mwamba called the return of Vedanta a historic event that will create new job opportunities for young people in the region.
President Hichilema also noted that Vedanta has already paid $134 million of the $250 million owed to contractors and suppliers, underscoring the company’s commitment to restoring KCM’s operations.
As Zambia embarks on this new chapter, the renewed focus on KCM is expected to generate significant tax revenues and support infrastructure development, contributing to the broader economic growth of the Copperbelt and the nation.
