KCM to Invest $4M in CSR Initiatives by November 2024
Konkola Copper Mines (KCM) Plc has reaffirmed its commitment to Corporate Social Responsibility (CSR) with a pledge to invest a total of $4 million in community development projects by the end of November 2024.
Since Vedanta Resources Holdings Limited assumed control of the mine in August, KCM has already allocated $1 million towards CSR initiatives, with an additional $3 million set aside for further development.
Vedanta’s long-term commitment to the KCM Community Development Trust, which oversees CSR projects, includes an annual $20 million investment. KCM’s Chief Operating Officer, Malcolm Mewett, highlighted the company’s support for various government and community programs, including funding for four local football clubs: Nchanga Rangers, Konkola Blades, Aguila Stars, and Nampundwe football clubs.
Additionally, KCM was the largest sponsor of the inaugural Zambia Mining and Investment Insaka, contributing $200,000, and supported the Zambia Basketball Association with K1.5 million to enable their participation in a South African tournament.
“Supporting local communities is a priority for KCM,” said Mewett. “We’ve allocated $250,000 monthly to support the football teams, and we are focusing on key projects in health, education, livelihoods, and sport with an additional $3 million investment.”
The company plans to roll out several major projects this month, including the Integrated Livelihood Project, which aims to benefit over 18,600 people with a $1.8 million investment. The Roll Back Malaria Program, targeting 65,000 households, will require nearly $615,000.
In addition, KCM will invest $120,000 in revamping the Chingola Leather Cluster workshop and $100,000 in partnership with the Ministry of Youth, Sports & Arts to empower youth through arts and cultural support for the Ngoma Awards.
CSR Manager Brian Siatubi emphasized that the Integrated Livelihood Project will focus on providing safe water and agricultural support to local communities. KCM is also collaborating with the government and various NGOs to ensure the successful implementation of these initiatives.
This is in a statement issued by Maurice Sichone, Acting General Manager – Corporate Affairs.
