Vedanta Resources resumes operations at Konkola Copper Mines.

Vedanta Resources Ltd announced yesterday that operations will be resumed at Konkola Copper Mines (KCM) in Zambia, after agreements were made with the government.

Zambia’s Minister of Mines and Minerals Development, Paul Kabuswe, stated that “Vedanta will return to run and resuscitate the operations of KCM as the majority shareholders” on Tuesday.

KCM is a remarkable asset in the mining industry, holding over 16 million tonnes of copper reserves with a copper grade of 2.3 percent. Vedanta lost control of the mines in 2019 and have been anxious to regain the asset. In the statement, the mining firm were enthusiastic to declare that "The ownership and management of KCM has been returned to the company following a historic decision by the Government of the Republic of Zambia".

Anil Agarwal, Vedanta Resources Chairman told press: "I welcome the decision of the Government of the Republic of Zambia to reinstate Vedanta at KCM. We have been committed to KCM since 2004 and believe that it is a prized asset in our portfolio".

Copper is a critical resource for the technologies of the future, specifically the emerging market of electric vehicles. Vedanta have pledged an investment of $1 billion towards enhancing KCM’s development and other associated infrastructure in order to increase the production capabilities of the mines. Vedanta will use KCM to become a prominent producer of copper to accommodate for India's increasing demand, in addition to making Zambia a global leader in copper production.

The Mine Workers Unions and the Association of Mine Suppliers and Contractors of Zambia have praised the government for settling the legal dispute with Vedanta and outside court, expressing that the decision will significantly improve living standards of citizens who occupy the towns that KCM operates from.