By: African mining market

Vedanta Resources announced on November 6 the creation of CopperTech Metals Inc., a new subsidiary responsible for operating its Konkola copper mine in Zambia. As part of this restructuring, the company said it will invest an additional US$1.5 billion to increase production to 300,000 tons by 2031. The move aligns with the broader wave of growth investments in Zambia’s copper industry in recent years.

Zambia aims to raise national copper output to 3 million tons by 2031, up from 821,670 tons in 2024. Several mining companies have announced expansion projects to support this goal. Canada’s Barrick Mining plans to double output at its Lumwana mine through a US$2 billion investment, while China’s JCHX intends to inject US$300 million to extend the life of its Lubambe mine.

At Konkola, Vedanta’s planned US$1.5 billion will add to the US$3 billion already invested in recent years. These investments are intended to boost production capacity and support Zambia’s long-term growth strategy at a time when global copper demand is rising due to the energy transition and the expansion of the artificial intelligence sector.

According to the International Energy Agency (IEA), the copper supply deficit could reach 30% by 2035. Combined with recent supply chain disruptions, these trends position new and expanded mines as key contributors to future global supply, provided the announced investments materialise.

Vedanta has not yet detailed how it plans to finance the new Konkola investment, even as it works to reduce debt and strengthen its balance sheet. For now, the company expects 140,000 tons of copper output from Konkola in its 2026 fiscal year. Nationally, Zambia targets 1 million tons of production this year.