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Zambia: KONKOLA COPPER MINES AND CHINA NERIN SIGN US$498 MILLION CONTRACT TO BOOST COPPER PRODUCTION BY 70,000 TONNES PER ANNUM

70 KTPA plant to recover copper from existing tailings, supporting Konkola Copper Mines’ growth and Zambia’s ambition to reach 3 million tonnes of copper production per annum

Konkola Copper Mines Plc (KCM) has signed a US$498 million contract with China NERIN Engineering Co., Ltd. (China NERIN) for the development of Africa’s largest Tailings Leach Plant (TLP), with capacity to produce 70,000 tonnes of copper per annum, at its operations in Chingola, Zambia.

The new TLP is a key part of KCM’s growth strategy and its contribution to Zambia’s ambition of producing 3 million tonnes of copper annually. The project will deploy advanced, sustainable wet-leaching technology to recover valuable copper from existing tailings — a by-product of copper mining and processing — enabling KCM to unlock additional value from its existing resource base and infrastructure while improving resource utilisation and extending the productive life of its operations.

The new TLP will operate alongside KCM’s existing TLP at its Nchanga operations, further positioning the company as a leader in innovation and efficiency across Zambia’s copper sector.

The project also reflects Vedanta Group’s renewed investment and commitment to KCM as the company’s strategic investor. KCM operates one of the richest ore bodies in the world, and Vedanta is committed to unlocking its full potential through sustained investment and modern technology. Vedanta continues to support the transformation and expansion of KCM through capital, technology and operational expertise, with a focus on realising the potential of its world-class copper assets and building a globally competitive, technology-enabled mining business.

This latest project complements Vedanta’s ongoing US$1 billion investment in KCM, which includes its flagship Konkola Deep Mining Project (KDMP) — the cornerstone of KCM’s growth strategy and a key contributor to Zambia’s national ambition of producing 3 million tonnes of copper annually.

Together, these investments position KCM at the forefront of sustainable copper production, ensuring long-term value creation for both Zambia and the global market.

Under the contract, China NERIN will provide design, engineering, procurement, construction and erection (EPC) services, along with technical support for commissioning, performance guarantee testing and training.

The partnership combines KCM’s substantial copper resource base and established operating infrastructure with China NERIN’s expertise in non-ferrous metals engineering, copper processing and project execution, supporting delivery of a major new processing facility.

Mr. Satish Kumar, Deputy Chief Executive Officer, KCM, said:

“Konkola Copper Mines is proud to contribute to Zambia’s national vision of producing 3 million tonnes of copper annually. With Vedanta’s renewed investment and commitment, and the technical expertise of our partner China NERIN, this project marks a major milestone in our growth journey. By deploying advanced technology to recover copper from tailings, we are unlocking new value, strengthening production and driving sustainable economic development for Zambia.”

Mr. Wu Runhua, Chairman and President, China NERIN Engineering Co., Ltd., said:

“We are pleased to partner with Konkola Copper Mines on this important project. Drawing on decades of expertise in copper processing and project execution, China NERIN will support KCM in unlocking additional value from its resources and successfully delivering this modern Tailings Leach Plant.”

The project is expected to generate significant employment opportunities during construction and operations, support local suppliers and contractors, and stimulate wider economic activity across the Copperbelt region.

The new TLP forms part of KCM’s broader strategy to increase copper production, improve resource recovery and maximise the value of its integrated mining and processing infrastructure. KCM’s operations span underground and open-pit mining, concentrators, tailings processing, smelting and refining — providing an integrated platform across the copper value chain.

Copper is a critical mineral underpinning the global energy transition and digital economy, with applications spanning power grids, AI data centres, advanced electronics, renewable energy infrastructure and electric vehicles. Zambia, one of Africa’s major copper-producing countries, has set an ambition to increase national copper production to 3 million tonnes per annum — creating a significant opportunity for investment that unlocks additional resources and expands production capacity.

KCM is one of the largest copper producers in Zambia, owned by Vedanta Resources (79.4%) and ZCCM-IH (20.6%). The company operates some of the world’s richest copper assets, encompassing mining and processing plants across four districts: Chingola, Chililabombwe, Kitwe and Nampundwe.

With an investment pledge of over US$1 billion, Vedanta aims to unlock key operations such as the Konkola Deep Mining Project (KDMP) in Chililabombwe and increase production to 300,000 tonnes of copper per year by 2030.

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