Who owns Konkola mine?
Vedanta ResourcesKonkola Copper Mines / Parent organization
Konkola Copper Mines is a copper mining and smelting company in Zambia. It is a subsidiary of Vedanta Resources, a mining conglomerate based in Mumbai and London. Konkola’s name is abbreviated to KCM.
Who runs KCM?
ZCCM Investments Holdings Plc
ZCCM Investments Holdings Plc (ZCCM-IH) maintains a 20.6% shareholding in KCM. ZCCM-IH is one of Zambia’s prime investment holding companies with the majority of its investments in the copper mining sector of Zambia. It is quoted on the Lusaka, London and Euronext Stock Exchanges.
Who owns the mines in Zambia?
Mopani Copper Mines Plc (Mopani) is a joint venture company based in Kitwe as 95% of its operations are located there, comprising Glencore International AG (73.1%), First Quantum Minerals Ltd. (16.9%) and Zambian Consolidated Copper Mines Limited (10%).
When was KCM sold to Vedanta?
November 2004
In November 2004, Vedanta Resources became the major shareholder in KCM with a 51% share in the company.
Where is Konkola’s copper?
The Konkola Copper Mines plc Head Office is located in Chingola in the Copperbelt Province of Zambia. The copper mining operations of KCM are located in the Zambian Copperbelt.
How many mines are there in Zambia?
There are currently 13 mining projects in Zambia owned by 12 companies, including international mining companies.
Why is KCM being liquidated?
KCM has been caught in a two-year tug-of-war between Vedanta and Zambia, which in 2019 placed KCM in liquidation for allegedly failing to pay taxes. The liquidator, Milingo Lungu, 43, was arrested on charges that he abused his role to cash in on $2.2 million.
Who buys copper from Zambia?
Export of copper from Zambia Zambia exported copper valued at approximately USD 7,2 billion in 2014. Its main importer of refined copper was Switzerland, while the main destination for its unrefined copper – 95 percent of the total – was China, according to The Atlas of Economic Complexity.
How many copper mines are there in Zambia?
This geographical diversification has meant that Zambia now has two major copper-producing regions, which greatly enhances its ability to respond to global demand.
Which is the deepest mine in Zambia?
A copper-cobalt mine owned by ZCCM. The deepest mine in the Zambian copper belt….
| Regional Level Types | |
|---|---|
| Copperbelt Province | Province |
| Zambia | Country |
Which mine started as a deep shaft mine in Zambia?
The Konkola mine commenced production in 1957. The operating units at the Konkola mine are the underground mine (No. 1 shaft, No.
Why choose Konkola Copper Mines?
At Konkola Copper Mines, we believe our people are our core assets and consistently endeavour towards grooming them to be future leaders. We pride ourselves on being innovative and finding solutions to help operate more efficiently, sustainably and responsibly.
Why invest in Konkola?
Konkola Copper Mines plc (KCM), one of Africa’s largest integrated copper producers, is a subsidiary of Vedanta Resources Plc, one of the world’s largest diversified natural resources companies. To be a world class integrated copper producing company leveraging mineral and human resources to enhance stakeholder value and be the pride of Zambia.
Why invest in KCM copper mining?
to the long term future of the mine. making KCM & Zambia world leaders in copper production again. to improving the health, safety and working conditions, uplift communities and empower the youth of Zambia. Social and Governance (ESG) performance.
Can KCM bring back the glory days of Zambia’s copper?
With restoration and improvement, KCM can help Zambia regain its status as a world leader in copper production. Vedanta has pledged to invest $1.5 bn into the KCM integrated asset to bring back the glory days of Zambia.