Vedanta Resources explores fundraising for Zambia copper mine

26 Apr 2024 CW Team

Vedanta Resources (VRL), owned by Anil Agarwal, has engaged Standard Chartered Bank to raise funds for its Konkola copper mine assets. According to VRL, they are currently in discussions with various potential partners for both short-term funds and long-term equity financing for the Zambian project.

A Vedanta official stated that their commitment lies in optimizing capital allocation and driving expansion, which is a fundamental aspect of their strategy for the mines. They believe this approach will enhance value creation and operationalise the Konkola Copper Mines (KCM).

A spokesperson for Vedanta mentioned that Standard Chartered Bank is supporting Vedanta in managing its capital structure and ensuring the availability of funds to meet its obligations and sustain operations. They emphasised that it's common for large corporations to engage with financial institutions for such purposes.

Regarding reports of Dubai-based fund International Resources Holdings (IRH) offering to purchase a 51 percent stake in the Zambian project for $1 billion, Vedanta stated that they cannot disclose the identities of partners or investors due to the sensitivity of on-going discussions.

Vedanta reaffirmed its commitment to Zambia and its people, aligning with the country?s vision of producing over 3 million metric tonnes of copper annually within the next 10 years.

The spokesperson expressed optimism about a swift resolution of all pending matters in the Zambian High Court. They noted that the process has already commenced, with creditors? meetings scheduled for May 24 and May 30.

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..