KCM to Invest $700 Million in Boosting Copper Production
Konkola Copper Mines (KCM) has announced a $700 million investment over the next five years to unlock the full potential of its operations in Chililabombwe, Zambia.
KCM Chief Operating Officer Malcolm Mewett revealed that this investment constitutes a significant portion of the $1 billion pledged by Vedanta Resources Limited for KCM’s growth.
He emphasized that the funds will primarily focus on underground developments at the Konkola Mine, enabling the extraction of vast copper reserves and significantly increasing production.
“This investment will help the mine achieve its target of producing 300,000 tonnes of copper annually, contributing significantly to the Zambian government’s goal of reaching three million tonnes of copper production per year within five years,” said Mewett during the official re-launch of the Konkola Business Unit operations.
KCM Director of Mining and Konkola General Manager, Cornelius Chimbanga, highlighted the critical role of strategic investments in enhancing the mine’s productivity and its contribution to Zambia’s GDP.
This ambitious initiative reaffirms KCM’s commitment to driving Zambia’s mining sector growth and supporting the country’s economic development goals.
