By KENNEDY MUPESENI –
in London
VEDANTA Resources, the owners of Konkola Copper Mines (KCM) have spent US$1 million in creating capacity in the Small and Medium Enterprises (SMEs) in Zambia.
Chief executive officer Tom Albanese said here that the group was committed to ensure that the Zambian entrepreneurs, especially in    the mining sector, were  capacitated and able to do business with mines.
“As a mining company with the long investment and prospects in Zambia, we will continue working with the Zambian Government in its quest to improve the economy of the country and this is the reason we are training entrepreneurs within the localities as a way of giving back to the community where we are operating,” Mr Albanese said.
His company was committed to help SMEs, especially those dealing with KCM, by creating strong supply linkages which would in the long run contribute significantly to economic development.
Stakeholders have been expressing concern about the poverty levels in the former and current mining towns.
Mr Albanese said collaboration with other industrial players in the non-mining sector was key in achieving economic development.
He said KCM was considering diversifying from mining to agriculture and forestry to cushion the impact of low commodity prices on the international market.
Mr Albanese said this in a presentation dubbed ‘An overview of Zambian mining challenges and opportunities’ during the Zambia Mining Investment Forum on Monday.
He said Vedanta had a 50-year vision in Zambia further, saying that this lay and depended on the Copperbelt to realise its dreams.
Mr Albanese also said that his group had put in place a strategy to counter commodity price volatility by making critical management decisions.