Vedanta to Invest US$1.5 Billion in Zambia to Boost Copper Output

Vedanta Resources has unveiled a strategic US$1.5 billion investment plan for Zambia’s Konkola Copper Mine through its newly formed subsidiary, CopperTech Metals Inc. This major capital injection is designed to transform Konkola into one of the largest copper producers in the region, with an ambitious goal of increasing annual output to 300,000 tons by 2031. The move aligns with Zambia’s national objective to ramp up its total copper production to 3 million tons by the same year, marking a significant leap from the 821,670 tons recorded in 2024.

The investment forms part of a broader wave of financial commitments in Zambia’s copper sector, which has already attracted over US$3 billion in recent years. Alongside Vedanta’s initiative, other notable investors include Barrick Mining, pledging US$2 billion toward expanding its Lumwana operations, and China’s JCHX Mining Management, committing US$300 million to enhance production at the Lubambe Mine. Together, these developments underscore a renewed global interest in Zambia’s copper-rich Copperbelt Province, driven largely by the surging demand for copper as a critical metal in renewable energy systems, electric vehicles, and artificial intelligence infrastructure.

The International Energy Agency (IEA) has forecast a potential 30 percent deficit in global copper supply by 2035, further intensifying the race among producers to expand capacity. Vedanta’s Konkola operations are expected to contribute substantially to bridging this gap, with copper output projected to reach 140,000 tons by fiscal year 2026 before scaling up toward its long-term target. The establishment of CopperTech Metals Inc. provides Vedanta with a modernized operational framework to manage these expansions more efficiently and sustainably, incorporating advanced processing technologies and environmental safeguards.

As Zambia accelerates toward 1 million tons of national copper production by the end of this year, the country is rapidly emerging as one of Africa’s most attractive destinations for mining investment. These initiatives not only bolster Zambia’s economic resilience but also reinforce its strategic importance in the global energy transition, as copper remains indispensable for electrification, grid modernization, and the continued growth of digital and AI-driven technologies.

Mini-Glossary

• Konkola Copper Mine: One of Zambia’s largest and oldest copper mines, located in the Copperbelt Province.
• CopperTech Metals Inc.: A newly created subsidiary of Vedanta Resources that will manage operations at Konkola.
• International Energy Agency (IEA): An intergovernmental organization providing policy advice and data on global energy markets.
• Copperbelt Province: A mineral-rich region in northern Zambia that serves as the hub of the country’s copper production.
• Electrification: The process of powering systems, industries, and transport with electricity, often derived from renewable sources.