COPPERBELT TRADE AND DEVELOPMENT FORUM TOASTS KCM RELAUNCH

By Scoop Reporter

THE Copperbelt Trade and Development Forum (CTDF) on behalf of mining host communities has commended the Government and Vedanta Resources for the extraordinary commitment in revamping the economy of the Copperbelt province and the nation at large.

Copperbelt Trade and Development Forum (CTDF) Executive Director Vincent Lengwe says KCM is not just one of the country’s largest and most strategic facility but also Vedanta’s most profitable subsidiary which sits on approximately 280 million metric tonnes of untapped viable mineral ore reserves with a life span of not less than 50 years, and the capability to contribute about 10% to the projected national target of producing 3 million metric tonnes of copper by 2032

Mr. Lengwe says in opening up a new chapter of sustained stakeholder relations, it was commendable that Vedanta Resources renewed its commitment as a good corporate citizen to pay in excess of US$250 million towards its suppliers and contractors with an additional unprecedented collective bargaining gesture to award a 20% salary increment plus a token of K2,500 across the board

“On the other hand, we also wish to remind Vedanta Resources Plc that the remaining work-in-progress in terms of commitments is the most crucial one as it borders on the social license to operate and aspects of business and human rights within the broader framework of the ESG (Environment, Sustainability & Governance) principles

“Most notably is the need to ensure that respective Community Development Agreements (CDAs) for all its integrated business units at Konkola, Nchanga, Nkana and Nampundwe are formulated in line with the provisions of the International Council on Mining and Metals (ICMM) community development toolkit as well as the World Bank Community Development Agreement model regulations which should be backed by a Statutory Instrument from the Minister of Mines,” Mr. Lengwe said.

“In addition Vedanta Resources Plc through its correspondence of 5th May 2022 indicated that it will align the delivery of its corporate social investments with the CDF implementation framework

“Finally, in order to improve mineral resource governance across the mining industry and optimize mineral revenue collection, we urge the government to expeditiously facilitate the enactment of the Extractive Industries Transparency Initiative (EITI) which has been pending since 2015,” he added.