KONKOLA COPPER MINES
Vedanta Africa has its work cut out turning around Zambia complex
The barely profitable Konkola has already cost Vedanta about $3bn
Restoration of profit, and cobalt and electricity generation are just three of the many objectives new Vedanta Africa Base Metals CEO Deshnee Naidoo has set for the underperforming Konkola Copper Mines in Zambia. The barely profitable Konkola has already cost Vedanta, the London-listed Indian diversified mining and energy company, about $3bn, with another $1bn earmarked to lift production from the mines and processing plants up to 500,000 tonnes of copper a year. In the nearer term, Naidoo has to ensure the Konkola complex delivered to plan. "My mandate is to have Konkola sustainably deliver copper at 300,000 tonnes a year or more. Two-thirds of that will come from own production and one third from third parties," she said in an interview. In the longer term, Konkola would focus on growth, unlocking the potential at the deposit containing 16-million tonnes of copper at a high 3% grade. Zambia has some of the world’s highest-grade copper deposits. Of the African asset base of zinc mi...