As the Indian investor Vedanta Mineral Resources returns to Konkola Copper Mines (KCM), mine contractors and suppliers in Zambia are expressing their eagerness to participate in and benefit from the renewed operations. Costa Mwaba, President of the Association of Mine Suppliers and Contractors, has called upon his members to unite to seize this opportunity.
Mr. Mwaba emphasized the need for Vedanta to establish a transparent and accountable supply chain system that actively involves local suppliers and contractors. He believes that a united front among industry stakeholders will pave the way for mutually beneficial partnerships.
This call for unity culminated in a pivotal meeting on Wednesday, where representatives from Vedanta and Copperbelt Minister Elisha Matambo gathered with suppliers and contractors. The meeting took place at the Garden Court Hotel in Kitwe and served as a platform to discuss the future collaboration between Vedanta and local industry players.
Vedanta’s Country Director, Dr. Moses Banda, used the occasion to underscore the company’s commitment to establishing long-lasting relationships with local suppliers and contractors. Dr. Banda’s statement signals Vedanta’s intention to actively engage with the Zambian business community, promoting inclusivity in their operations.
One of the pressing issues discussed at the meeting was the outstanding debt owed to suppliers and contractors, amounting to $250 million. Dr. Banda addressed this concern by indicating that Vedanta would embark on a systematic approach to address this financial burden, starting with low-value invoices.
Copperbelt Minister Elisha Matambo seized the opportunity to encourage contractors to work closely with the new Vedanta team. He expressed confidence in the capability of local contractors to deliver quality services and emphasized the importance of Vedanta offering viable contracts to Zambian companies.
The return of Vedanta to Konkola Copper Mines has generated optimism within Zambia’s mining industry. The collaborative efforts between the company, local suppliers, and contractors are anticipated to stimulate economic growth, foster partnerships, and ultimately contribute to the sustainable development of the mining sector in Zambia.