Vedanta Resources Plc's Zambian subsidiary Konkola Copper Mines Plc is aiming to set up a copper smelter in Zambia as part of a US$1 billion investment program it announced in March, Reuters reported Dec. 7.
Vedanta plans to construct a copper refinery at Nchanga, in Chingola, and a cobalt processing plant and a training academy at Konkola. The program will also see the de-watering of the Konkola copper-cobalt mine in the country.
"We are firmly behind [Konkola Copper Mines]'s medium-term target of raising total annual finished copper production to 400,000 tonnes per annum," Vedanta CEO Kuldip Kaura said.
The company now expects the investment to create 12,000 jobs, higher from previously estimated 7,000 jobs.