India's mining firm pledges commitment to Zambia operations

India's mining giant, Vedanta Resources Plc, has expressed commitment to fulfill its vision of continuing mining in Zambia, a statement released on Monday said.

The Indian mining firm, which owns Konkola Copper Mines (KCM) in Zambia, said it will fulfill its 50-year vision of its mining operations in Zambia, according to a statement released by Shapi Shachinda, communication manager of the Zambian unit.

Anil Agarwal, the Indian firm's founder and chairman, said the current challenges facing the mining sector were not new and expressed optimism that the firm will emerge from the challenge stronger.

"Our main intention at the moment is to survive the current challenges. It is all about our determination to take our company forward. You need to work hard, cut costs and increase production. We have to be innovative," he said.

"This is not the first time we have faced these challenges. I am optimistic we will come out strongest. Companies which emerge strong from the downturn in mining are those that inevitably benefit most from the return to higher commodity prices," he added.

The mining firm has been hit by the current downturn in the price of copper on the international market and a power deficit, forcing the firm to downsize on its workforce.

The firm has invested 3 billion U.S. dollars in its 11 years of operation in Zambia. Endit