Konkola Copper Mines (KCM), a subsidiary of Vedanta, has signed a contract valued at $498m (K9.78tn) with China’s NERIN Engineering for the construction of a copper recovery plant at its Chingola operations in Zambia’s copperbelt region.
The agreement covers design, engineering, procurement, construction and installation of the new facility, which is expected to treat mine tailings left over from previous extraction activities.
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The plant has the potential to add 70,000 tonnes per annum (tpa) to Konkola’s copper production capacity.
NERIN will also provide commissioning, performance testing and training support related to the facility’s operation.
The contract is not yet effective and is subject to the fulfilment of certain conditions, including payment of an advance to the contractor.
The initiative forms part of Konkola’s wider expansion strategy, which aims to raise its total copper output from around 80,000t reported in 2025 to 300,000tpa by 2031, the Ecofin Agency reported.
Much of this planned increase is expected to come not only from the tailings recovery plant but also from the ongoing development of the Konkola Deep underground project.
Preparatory work for Konkola Deep has commenced, although financing efforts have faced delays.
Konkola’s investment also aligns with Zambia’s national objective of boosting copper production to three million tonnes by 2031, up from a projected 890,000t in 2025.
Copper plays a significant role in the region’s economy and is integral to sectors such as power grids and renewable energy.
While CopperTech Metals, the operating company, had planned to support its expansion through capital market fundraising, a proposed initial public offering on the New York Stock Exchange, targeting up to $423.5m, was postponed in June due to market volatility.
