Konkola Copper Mines Awards $498M Contract for Copper Recovery Plant to China's NERIN
Konkola Copper Mines (KCM), a subsidiary of Vedanta, has signed a $498 million contract with Chinese engineering firm NERIN Engineering to construct a copper recovery plant at its Chingola operations in Zambia. The facility is designed to process mine tailings and increase KCM's annual copper production by 70,000 tonnes. This project supports KCM’s broader strategy to raise output from approximately 80,000t per year in 2025 to 300,000tpa by 2031. The initiative aligns with Zambia's national goal of increasing copper production to three million tonnes annually by 2031. The contract is conditional on an advance payment and includes commissioning support from NERIN. KCM also plans to expand through the Konkola Deep underground project, though financing has faced delays. Copper remains a critical resource for global infrastructure and renewable energy sectors. However, capital-raising efforts by CopperTech Metals have been affected by market volatility, including the postponement of an IPO in June.
Topics: copper mining expansion strategy NERIN Engineering Vedanta Zambia