Vedanta Teams Up with Worley for $1 Billion Zambia Copper-Cobalt Push
Vedanta Resources, led by Anil Agarwal, has enlisted Australia’s Worley, a global engineering and project management firm, to spearhead a major expansion at Konkola Copper Mines (KCM) in Zambia. The partnership supports an ambitious investment plan worth approximately $1 billion aimed at boosting copper and cobalt output.
Vedanta Zambia
Following its recovery of KCM assets last year, Vedanta has prioritized ramping up production and resolving past disruptions. The company intends to scale mining activities while enhancing processing capabilities, particularly focusing on critical minerals used in technologies such as electric vehicles and energy storage.
Worley Partnership
Under the deal, Worley will manage engineering, procurement, and construction management (EPCM) for KCM’s expansion. This also includes collaborating with global experts to establish vertically integrated operations and explore partnerships in cobalt and copper extraction. A key highlight is the development of a new tailings processing facility, designed to recover additional copper from existing mine waste and improve overall resource efficiency and sustainability.
Production Goals
Beyond mining, Vedanta is contemplating a U.S. listing or other funding mechanisms for KCM, following due diligence by advisers like Barclays and Citigroup. The oracle: raise capital to support goals including elevating copper output to roughly 300,000 tonnes per year over the next five years—up from lower levels hindered by prior legal and operational setbacks.
Strategic Importance
Konkola is Africa’s largest copper mine and holds substantial cobalt reserves crucial for the global clean-energy transition. For Vedanta, success in Zambia would reinforce its strategic diversification into critical minerals and validate its project management capabilities ahead of broader corporate restructuring into standalone listed entities.
By leveraging Worley’s technical leadership, Vedanta aims to unlock both economic and environmental value in a sector under intensifying global demand. The expanded focus on tailings processing also signals improved waste management practices.
Why It Matters
This venture places Vedanta at the forefront of critical-mineral supply chains, aligning with global sustainability imperatives and rising demand for copper and cobalt. The convergence of new investment, expert partnerships, and output ambitions positions KCM as a potential model of responsible and profitable mining in Africa.
