Vedanta Resources Surpasses $400M Investment Milestone in KCM Operations
Vedanta Resources has officially fulfilled its initial investment commitment of US$124 million under the Shareholders’ Agreement, ahead of the July 1, 2025 deadline, bringing total investments in Konkola Copper Mines (KCM) operations to over US$400 million since the company resumed management in August 2024.
This investment marks a significant step in Vedanta’s broader pledge to inject US$1 billion over five years to revive and expand KCM’s operations, with a strategic focus on enhancing production capacity and sustainability.
The milestone was confirmed by KCM Chief Operating Officer Mr. Malcolm Mewett, who emphasized the company’s ongoing progress.
“Substantial progress has already been made on critical mine development activities, especially under the Konkola Deep Mining Project (KDMP), which is central to our long-term strategy,” said Mr. Mewett.
The current investment prioritizes strengthening operations at KCM’s Konkola and Nchanga sites, with a clear ambition to reach 300,000 tonnes of annual copper production by 2030. A full shutdown and refurbishment of the smelter is also planned to restore its structural integrity and improve operational efficiency, an essential move to support increased output.
As part of the over US$400 million already invested, Vedanta has delivered on several major commitments:
- 20% salary increment for all KCM employees
- One-off K2,500 payment per employee
- US$20 million allocated to Corporate Social Responsibility (CSR) initiatives
- US$250 million used to settle creditor obligations
These measures uemphasize Vedanta’s commitment to revitalizing KCM and contributing to Zambia’s economic growth through sustainable mining practices.
“These actions demonstrate Vedanta’s deep-rooted commitment to KCM and to unlocking Zambia’s vast copper potential for national development,” added Mr. Mewett.
