Vedanta Resources Aims to Raise $1 Bn

10 Feb 2025 CW Team

Vedanta Resources is trying to raise around $1 billion in debt financing to fund development of its Konkola Copper Mines (KCM) in Zambia, Chris Griffith, head of the company's base metals unit, said. The Indian company, which owns 80 per cent of KCM, said last year it planned to sell at least 30 per cent of its holding in the copper mines.

But Griffith said selling a stake looked less likely. Vedanta, owned by Indian billionaire Anil Agarwal, is weighing various debt fund raising options, Griffith said without specifying details.

It wants the $1 billion in funding to boost copper output at KCM to about 300,000 metric tons per year over the next five years. Vedanta regained control of the assets in 2024 after a five-year tussle to recover the copper mines and smelter that the government of former Zambian president Edgar Lungu had seized. The former administration accused Vedanta of failing to invest to expand copper production.

The Zambian government owns the remaining 20 per cent stake in KCM through state investment firm ZCCM-IH. United Arab Emirates firm International Resources Holding last year withdrew an offer to buy Vedanta's 51 per cent stake in the copper mines, citing differences in valuation of the assets.

Since then, Vedanta's debt position has improved after it refinanced its bonds and this might help the company to raise more cash internally alongside external debt options, Griffith said. He said it had secured short-term financing to pay outstanding debts.

Technology

29 Jul 2026

AI-Enabled Workflows Lift Profitability and Productivity

Organisations modernising frontline workflows with artificial intelligence, automation and real-time data are reporting stronger financial performance, higher productivity and improved employee engagement, according to a global study by Zebra Technologies and Oxford Economics.The research covered 1,000 senior leaders across retail, manufacturing, transportation and logistics in the US, Mexico, the UK, Germany, India, Japan, Australia and New Zealand.In transportation and logistics, 54 per cent of companies that improved picking and packing operations reported faster operational performance, wh..

India Leads Global AI Readiness but Implementation Lags

Indian companies lead global averages across all eight artificial intelligence readiness indicators tracked by JLL, but only 19 per cent have started making changes to their workplaces, according to the JLL 2026 Future of Work Survey.The study found that 77 per cent of Indian business leaders expect AI to change their office requirements, creating a 58-percentage-point gap between awareness and implementation. The survey covered more than 2,200 CEOs, CFOs and real estate leaders across 21 countries during the first quarter of 2026.Despite concerns over automation, 58 per cent of Indian leaders..

Three WOLFF Cranes Build Riyadh Cable-Stayed Bridges

Three WOLFF 180 B luffing jib cranes are supporting the construction of two cable-stayed bridges alongside the existing Wadi Laban Bridge in Riyadh, Saudi Arabia. The project is being developed for the Royal Commission for Riyadh City and executed by the ICRC joint venture comprising IC Ictas and Al Rashid Trading & Contracting Company.The cranes are handling lifting operations including formwork, reinforcement, concrete placement, work platforms, surveying equipment and other construction materials. Each crane is fitted with a 40 m jib, reaches a hook height of 157 m and offers a maximum ..