Vedanta's Zambian copper mine will renovate its smelter to boost production

Vedanta Resources Ltd.'s Zambian copper mine plans to renovate its smelter to boost production.

Konkola Copper Mines (KCM) said on Wednesday that the smelter would undergo a "complete shutdown and renovation" to "restore structural integrity and improve efficiency." Although the company aims to achieve a production target of 300,000 mt by the early next decade, last year's production fell short of 10% of that goal.

Vedanta regained control of KCM about a year ago after resolving a long-standing dispute with the Zambian authorities.

Since retaking control, the company has injected over $400 million into KCM, including $250 million for debt repayment and $124 million in installments. Most of the funds will be used to complete underground mining operations at Konkola.

As Africa's second-largest copper producer, Zambia exempted 255,000 mt of copper concentrates from export taxes last month, partly due to KCM's smelter being unable to process the material.

(Comprehensive report from Wenhua)