Vedanta Resources PLC Zambia operation plans to quadruple copper production in the next 3years. Vedandata PLC trading as Konkola Copper Mines produces an average of 100,000 metric tons annually and plans to push it higher to 300,000 – 400,000 metric tons in the next 3 years after it injects $1billion capital, Chief Executive Officer Steven Din confirmed.
Vedanta will target to maximize production at its underground Mine in Chililabombwe and its Nchanga Open Pit Mine dubbed Zambia’s greatest Mine which it reopened after a 12-18months closure following a plummet in copper prices. The mine has also reinstated its tail leaching plant which within 12-18months will double production capacity.
Earlier in the year Vedanta Chairman Anil Agarwal was in Zambia to meet the president where he committed to invest $1billion. This would additionally include set up of a 300MW plant to ease pressure off the grid.
Vedanta holds 79.4% stake in Konkola Copper Mine with the governmemt of Zambia holding the remaining 20.6%.