【SMM News Flash】CopperTech Metals announced a strategic partnership with Axiom Group, VBKOM, and Fleet Space Technologies on Wednesday to apply next-generation geoscientific technologies in the exploration of the Konkola copper mine.KCM (Konkola Copper Mines Plc), a subsidiary of Vedanta Resources established in 2025 under CopperTech, is responsible for the operation of the Konkola mine.The Konkola mine is considered one of the world's highest-grade copper ore assets, with proven ore grades ranging from 2.9% to 3.3% and total copper reserves/resources of approximately 16 million mt.

【Vedanta Is Expected to Raise $1 Billion Through Debt Financing to Fund Zambian Copper Mine】According to foreign media reports on February 6, Chris Griffith, head of Vedanta Resources' base metal unit, stated that the company is attempting to raise approximately $1 billion in debt financing to fund the development of its Konkola Copper Mine (KCM) in Zambia. (Webstock Inc.)

According to SMM, Zambia's copper production in 2024 is expected to increase by 12%, driven by a recovery in output from major mines, as the government relies on the sector to boost economic growth. Zambia's Minister of Mines, Paul Kabuswe, stated that production would reach approximately 820,670 mt, up from 732,580 mt in the previous year. The Lumwana mine, owned by Barrick Gold, increased its production, while Konkola Copper Mines (KCM), owned by Vedanta Resources, resumed operations. The Mopani Copper Mines, recently acquired by UAE-based International Resources Holdings, also saw a rebound in production. Kabuswe noted that despite catastrophic droughts affecting hydropower generation and causing power shortages, production still increased.

[Zambia's Copper Production to Grow by 12% in 2024 Due to Recovery in Major Mines' Output] According to foreign media on January 22, Zambia's copper production is expected to grow by 12% in 2024, driven by a recovery in output from major mines, as the government relies on the sector to boost economic growth. Zambia's Minister of Mines, Paul Kabuswe, said on Wednesday that production would reach approximately 820,670 mt, up from 732,580 mt in the previous year.

Zambia is close to resolving a dispute with Vedanta Resources (VEDJB.UL) over its Konkola Copper Mines (KCM) and the future of some state-owned mines.

SHANGHAI, Jul 6 (SMM) – China's copper anode imports were 88,800 mt in May, up 4.56% MoM, but down 0.72% YoY.