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Vedanta Resources to invest US$1 billion in Konkola Copper Mines

LSE-listed Vedanta Resources has outlined its 50-year vision for mining in the Copperbelt and plans to invest US$1 billion for its next phase of growth.

This investment by Vedanta Resources is expected to create 7 000 jobs.

“I want Konkola Copper Mines (KCM) to be the largest integrated copper producer in Africa, the pride of Zambia and Vedanta Resource’s hub for copper and cobalt production in Africa,” sates Vedanta Resources chairman, Anil Agrawal.

“The ramp up of KCM is the centerpiece of my 50-year vision. It’s technically very challenging, because of the massive amount of water we have to pump out of the mine, but I’m determined to find technical solutions,” explains Agarwal.KCM is one of Zambia’s largest integrated copper producers.

Agrawal has committed to further help diversify the economy of the Copperbelt by supporting initiatives in agriculture and technology. KCM currently supports 2 700 families and small scale farmers through its Sustainable Livelihoods programme.

Agrawal made his ambitions for KCM knows after recently meeting with His Excellency President Edgar Chagwa Lungu. The meeting took place at State House in Lusaka. Lungu and the chairman discussed the outlook for the global mining industry and Vedanta’s investment in KCM.

KCM is one of Zambia’s largest copper producers, with mining operations in Chingola, Chililabombwe, Kitwe and Nampundwe. It is a subsidiary of Vedanta Resources, a London-listed diversified global natural resources company. The group produces aluminium, copper, zinc, lead, silver, iron ore, oil & gas and commercial energy. Vedanta has operations in India, Zambia, Namibia, South Africa, Ireland and Australia.

Feature image credit: Vedanta Resources (photograph of Vedanta Resources chairman, Anil Agrawal)

Source: Mining review

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