Vedanta Resources launches CopperTech Metals in US

New Delhi, Nov 7 (PTI) Vedanta Resources Ltd on Friday said it has launched CopperTech Metals Inc, a US-based firm, to support its growing infrastructure and clean energy ambitions.

The new company will own and operate Konkola Copper Mines (KCM) in Zambia. Priya Agarwal Hebbar, Director at Vedanta Ltd and Chairperson of Hindustan Zinc Ltd, will lead CopperTech as Chairperson.

"CopperTech Metals will build on Vedanta's existing USD 3 billion investment in KCM with an additional USD 1.5 billion program to enhance production and operational efficiency through AI-driven exploration and extraction technology," the company said in a statement.

The company aims to expand annual integrated copper production from 140,000 tonnes in FY26 to 300,000 tonnes by 2031, and eventually to 500,000 tonnes per year.

Copper is a critical mineral for the energy transition technologies and demand is soaring globally for use in electric vehicles and an increasingly digitised modern world striving for net zero.

With high-grade copper deposits in excess of 2.4 per cent, KCM is one of the largest deposits of high-grade copper in the world. With a total of 4,12,000 tonnes of contained cobalt reserves and resources, KCM also has the potential to sit amongst the top five cobalt producers globally.

Anil Agarwal, Founder and Chairman of Vedanta Group said, "... CopperTech will play a significant role in connecting America's critical mineral needs with Zambia's historic copper legacy. This partnership will unlock a wave of innovation and advancement in clean energy, technology, and industrial progress on both sides of the Atlantic." PTI SID MR MR