Vedanta Resources explores fundraising for Zambia copper mine
ECONOMY & POLICY

Vedanta Resources explores fundraising for Zambia copper mine

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.

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.

Next Story
Infrastructure Urban

Aadhaar Authentications Cross 27 Billion in FY25

Aadhaar authentication transactions surged past 27.07 billion in FY 2024–25, including 2.47 billion in March alone, reflecting its growing adoption across sectors such as banking, finance, telecom, and public service delivery. Since its inception, the cumulative number of Aadhaar authentication transactions has exceeded 148 billion.The Unique Identification Authority of India’s (UIDAI) AI/ML-based face authentication technology is also witnessing a sharp rise in usage. In March 2025 alone, over 150 million face authentication transactions were recorded. This biometric modality is now used ..

Next Story
Infrastructure Urban

IEPFA Holds Preparatory Meet for 'Niveshak Shivir' Initiative

The Investor Education and Protection Fund Authority (IEPFA), under the Ministry of Corporate Affairs, Government of India, hosted a preparatory meeting on April 28, 2025, with Nodal Officers from stakeholder companies via video conference. The session, chaired by IEPFA CEO Smt. Anita Shah Akella, focused on finalising operational plans for the upcoming ""Niveshak Shivir"" initiative—a joint effort between IEPFA and the Securities and Exchange Board of India (SEBI).""Niveshak Shivir"" aims to improve investor services and streamline the claims process by reaching out to cities with a high nu..

Next Story
Infrastructure Urban

India, France Sign Deal for 26 Rafale-Marine Jets for Navy

India and France have signed an Inter-Governmental Agreement (IGA) for the acquisition of 26 Rafale-Marine aircraft for the Indian Navy, comprising 22 single-seater and four twin-seater jets. The deal also includes training systems, simulators, associated equipment, weapons, and performance-based logistics, along with additional equipment for the Indian Air Force’s existing Rafale fleet.The IGA was signed by India’s Defence Minister Rajnath Singh and French Minister of Armed Forces Sébastien Lecornu. The agreement, along with supply protocols for aircraft and weapons, was exchanged in the..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?