US$1.5 BILLION VEDANTA INVESTMENT POWERS ZAMBIA’S COPPER FUTURE

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Posted by admin on November 13, 2025 at 3:59 AM

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Vedanta Resources Limited has unveiled CopperTech Metals Inc., a new U.S.-based company that will operate Konkola Copper Mines (KCM) in Zambia, backed by a US$1.5 billion investment aimed at expanding production and strengthening Zambia’s role in the global copper supply chain.

The announcement was made in New York on 6 November 2025, underscoring Vedanta’s long-term commitment to Zambia’s mining sector. The company has already invested US$3 billion historically in KCM, covering deep mine development, smelter upgrades, and concentrator projects.

The new capital will fund operational expansion, modernization, and deployment of AI-driven exploration and extraction technologies.

Vedanta Founder and Chairman Anil Agarwal described the move as a “historic and pivotal moment.”

“CopperTech will connect America’s critical mineral needs with Zambia’s copper legacy, unlocking innovation in clean energy, technology, and industrial development on both continents,” Agarwal said.

CopperTech aims to increase copper production from 140,000 tonnes in 2026 to 300,000 tonnes by 2031, with future investments projected to reach 500,000 tonnes annually. Global copper demand is expected to rise by over 40 percent by 2040, while the U.S. currently imports nearly 45 percent of its refined copper requirements, highlighting the strategic importance of the initiative.

The project aligns with Zambia’s 2030 Copper Vision, which seeks to boost national production, promote value addition, and strengthen responsible mining practices. Following the government’s 2024 decision to return management control of KCM to Vedanta, ZCCM-IH retains a 20.6 percent equity stake, signaling confidence in Vedanta’s sustainability commitments.

KCM hosts one of the world’s highest-grade copper deposits, with ore grades averaging 2.9 percent and peaking at 3.3 percent in the Konkola Deep Mining Project (KDMP). Its integrated operations — including underground mines, concentrators, a smelter, and a recycling facility — provide a competitive edge in cost and quality control.

CopperTech will integrate AI and digital systems to enhance ore recovery, safety, and production efficiency. High-grade copper cathodes and cobalt hydroxide will supply sectors such as renewable energy, electric mobility, and global data infrastructure.

The company also plans to leverage the US$10 billion Lobito Corridor, connecting Zambia’s Copperbelt to Angola’s Atlantic coast, to improve export logistics and expand access to U.S. and European markets.

Priya Agarwal-Hebbar, Director at Vedanta Limited and Chairperson of Hindustan Zinc Limited, will serve as Chairperson of CopperTech Metals.

“CopperTech demonstrates our confidence in Zambia’s mining future and our ability to power the global energy transition from the heart of the Copperbelt,” she said.