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Vedanta Zambia A New Chapter for Global Copper Leadership

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Vedanta Zambia A New Chapter for Global Copper Leadership

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  1. Vedanta Zambia: A New Chapter for Global Copper Leadership

  2. Copper today is being hailed as the “new gold” in the age of clean energy, and due to its surging demand, the Global Copper Market Size is also expected to reach USD 504.93 billion by 2033, growing at a CAGR of 5.04% between 2023 to 2033. Already coined as a critical mineral, copper prices have been supercharged by the digitisation of the global economy. Further, the rise of the electric vehicle (EV) industry and global push towards energy transition has propelled copper demand. In this landscape, Vedanta Resources’ regaining control of Zambia’s Konkola Copper Mines (KCM) marks a turning point, not just for the company, but for the future of sustainable mining and global copper supply.

  3. A Positive Resolution in Zambia Vedanta Resources Limited, the diversified global metals, natural resources, energy, and technology conglomerate, last year paid USD 245.75 million in line with its commitment under the Vedanta KCM scheme of arrangement. After a legal and operational battle, Vedanta Resources has officially resumed control of Konkola Copper Mines in March 2024, following a historic agreement with the Government of Zambia. This marks the return of full management control of Vedanta Zambia KCM, which is an important step for Vedanta to ramp up its operations.

  4. KCM – the Largest Deposits of high-grade Copper With high-grade Copper deposits in excess of 2.4%, KCM is one of the largest deposits of high-grade copper in the world. With a total of 412kt of contained Cobalt Reserves and Resources, KCM also has the potential to sit amongst the top 5 cobalt producers globally, another critical mineral. Vedanta’s ambitious plans include ramping up KCM copper production to 300ktpa, along with increasing Cobalt production from 1ktpa to 6ktpa by improving production capabilities at KCM.

  5. Conclusion With copper increasingly becoming the metal of the future, powering renewable energy, smart technology, electric mobility, and much more, Vedanta’s leadership in Zambia helps it remain competitive and ahead of the curve. From regaining KCM to eyeing a US listing and planning large-scale investments, Vedanta sets an example of how responsible mining can drive inclusive growth and global transformation.

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