Vedanta Resources regains control of Zambia's Konkola Copper Mines (KCM) for $245.75m, aiming to increase copper and cobalt production.
Vedanta Resources Holdings Limited has paid $245.75m, allowing it to regain control of Zambia's Konkola Copper Mines (KCM) and reinstating its board. With high-grade copper deposits (2.4%+) and cobalt reserves, KCM has the potential to become one of the top 5 global cobalt producers. Vedanta plans to ramp up KCM's copper production to 300ktpa and boost cobalt production from 1ktpa to 6ktpa.
July 22, 2024
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