FacebookMySpaceTwitterDiggDeliciousStumbleuponGoogle BookmarksRedditNewsvineTechnoratiLinkedinMixxRSS Feed

San Clemente Dentist Consistently Receives 5-Star Patient Reviews

Dental Health is an important thing. It's often the harbinger of other health problems, so it's...

Szpromo.com Shoots for the Number One Spot in China Wholesale Market of Promotional Gifts

Promotional gifts are widely used by business leaders and top executives who want to enter...

Audi Creates Unique Media Campaign to Highlight Quattro® Technology

Audi will release a series of media clips to commemorate the anniversary and engineering...

AZsFrance.com contains vast information on French Tourism

AZsFrance.com is a very useful site for the tourists who are travelling France for the first...

Searcy Succes, LLC announces the launch of its Law Firm in Chicago, Illinois

Searcy Succes, LLC is happy to announce the launch of its Law Firm in Chicago, Illinois. The firm...

Lesprosdelimpot.ca Offering Online Personal Income Tax Service

Lesprosdelimpot.ca, a Quebec based company is offering personal income tax services online. The...

Recent Supreme Court ruling may help promote safe driving practices in Maryland

Tucker & Associates PLLC warns Maryland clients of recent Supreme Court decision that evidence...

dmg events launches Middle East Heavy Oil Congress in collaboration with Bahrain’s National Oil and Gas Authority

First edition of event to focus on innovation and advancement in the exploration, production and...

The legends appearing in FIFA 15 Ultimate Team

It is to achieve greatness over the pitch with the legends of the previous and the stars of today....

Elena Rose Offers Listeners A Unique Brand Of Modern Pop Music!

Designed to make listeners get up and dance, Elena Rose’s music is an inspiring blend of pop and...

  • San Clemente Dentist Consistently Receives 5-Star Patient Reviews

    Thursday, 29 January 2015 17:56
  • Szpromo.com Shoots for the Number One Spot in China Wholesale Market of Promotional Gifts

    Thursday, 29 January 2015 15:42
  • Audi Creates Unique Media Campaign to Highlight Quattro® Technology

    Thursday, 29 January 2015 15:32
  • AZsFrance.com contains vast information on French Tourism

    Thursday, 29 January 2015 12:43
  • Searcy Succes, LLC announces the launch of its Law Firm in Chicago, Illinois

    Thursday, 29 January 2015 12:15
  • Lesprosdelimpot.ca Offering Online Personal Income Tax Service

    Thursday, 29 January 2015 12:12
  • Recent Supreme Court ruling may help promote safe driving practices in Maryland

    Thursday, 29 January 2015 12:10
  • dmg events launches Middle East Heavy Oil Congress in collaboration with Bahrain’s National Oil...

    Thursday, 29 January 2015 12:05
  • The legends appearing in FIFA 15 Ultimate Team

    Thursday, 29 January 2015 12:00
  • Elena Rose Offers Listeners A Unique Brand Of Modern Pop Music!

    Thursday, 29 January 2015 11:51

Tom Albanese, CEO of Vedanta Resources plc, outlined his vision for Vedanta in Africa while delivering a keynote address at the Mining on Top summit in London this morning, which brought together senior government officials, the mining industry, investors and civil society.

Africa strategy anchored in Zambia’s Copperbelt, Southern African zinc and West African iron ore Tom Albanese, CEO of Vedanta Resources plc, outlined his vision for Vedanta in Africa while delivering a keynote address at the Mining on Top summit in London this morning, which brought together senior government officials, the mining industry, investors and civil society. ‘’Vedanta Resources has been in Africa now for more than a decade, and I am bullish about the potential, both of our existing companies and their opportunities but also for the future of mining across Africa.’’ Speaking about the mining industry’s contribution to economic development, Mr Albanese said, ‘’mining has already created much that is positive, but there are new expectations of what we need to do in the future. I suggest that we can indeed create yet more value, building on a century’s learning and leveraging what we do across the African continent, to provide more benefits, more advantages and more wealth for all stakeholders.’’ Introducing Vedanta’s operations in Southern Africa, Tom Albanese said: ‘’Part of our new vision at Vedanta is for an integrated zinc/lead business in southern Namibia and the Northern Cape of South Africa, creating an integrated zinc smelter/refinery complex at Rosh Pinah. We will be looking to see how we can further leverage this economically in an area of high unemployment and a fragile arid zone biodiversity. This becomes our zinc anchor in Africa.’’ ‘’In the Zambian Copperbelt, at KCM, we continue to invest and to develop. Vedanta paid $261 million to acquire a 79.4% stake in KCM. We have invested $2.9 billion over the last decade in a new copper smelter, 3 new concentrators, a tailings leach plant and new underground facilities. We have reinvested all of our earnings back into the company. This has supported the creation of 5,000 new construction jobs and in the meantime, salaries at KCM have more than doubled in real terms. In support of wider economic development in the area, we continue to expand our vocational technical college – one of the largest private sector facilities in the region. We have paid more than $850 million in taxes and local rates. To add to this, we have spent $120 million on local community initiatives in areas including malaria prevention, sustainable agriculture, school, clinics and community healthcare.’’ Mr Albanese went on to say that ‘for technical reasons that have delayed the ramp-up of copper production after these massive investments, KCM has been loss-making of late and some challenges remain, but to be clear, Vedanta Resources is committed to KCM and to Zambia. We have a 50 year vision for KCM and opportunities in the Copperbelt as our copper and cobalt anchor for our future African growth.’ Turning to West Africa, Mr Albanese said, ‘we have an opportunity to be an important part of the Liberian economy with a phased ramp-up of our Western Cluster business as we develop the necessary infrastructure.’’ He concluded his speech with a call to action to create real sustainability in mining. ‘’Some have suggested that mining sustainability is an oxymoron: how can digging up and removing something be sustainable? But I believe that mining can be sustainable if we are putting back an equal value of future opportunity. At Vedanta, we appreciate how we need to do this and we will continue to engage widely to create this shared value. Creating future opportunities in return for today’s commodities is not just a ‘nice to have’: it is essential for the sustainability of our companies, our industry, our communities and the nations and people of Africa.’’ About Vedanta Resources Plc Vedanta Resources plc (“Vedanta”) is a London listed diversified global resources major. The group produces Aluminium, Copper, Zinc, Lead, Silver, Iron ore, Power, and Oil and Gas. Vedanta has world-class assets in India, Zambia, South Africa, Namibia, Ireland, Liberia, Australia and Sri Lanka and a strong organic growth pipeline of projects. With an empowered talent pool globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of entrepreneurship, excellence, trust, inclusiveness and growth. For more information, please visit: www.vedantaresources.com Copies of the speech are available at www.vedantaresources.com For further information, please contact: Roma Balwani Executive Vice President Group Communications & CSR Tel: +91 22 6646 1330 This email address is being protected from spambots. You need JavaScript enabled to view it.

Share It!

Featured

release-news.com Webutation

Members

We have 71 guests and no members online