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The Konkola copper mine was pushed into liquidation by the Zambian government in 2019 following Preside Edgar Lungu’s allegations that it had failed to expand copper production.
Vedanta Resources Holding Ltd, the parent company of Indian mining giant Vedanta Ltd, is poised to regain control of the Konkola copper mine in Zambia after settling nearly USD 246 million in dues.
The Anil Agarwal-led conglomerate has been looking to take full management control of the mine for the past five years. The Konkola copper mine was pushed into liquidation by the Zambian government in 2019 following Preside Edgar Lungu’s allegations that it had failed to expand copper production.
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https://trendsnafrica.com/kcm-vedanta-deal-implementation-near-completion/
The Konkola copper mine (KCM) has some of the largest deposits of high-grade copper in the world, exceeding 2.4%. It is also among the top cobalt producers in the globe with 412 thousand tonnes (kt) of reserves. It plans to ramp up its KCM copper production to 300 ktpa (thousand tonnes per annum) and also increase cobalt production from 1ktpa to 6ktpa by improving the production capabilities of the mine, the company said in a release.
