By Tyndale Muchiya
Konkola Copper Mines (KCM) has refuted recent media reports claiming the company unveiled a $2.5 billion expansion plan to unlock 16 million tonnes of copper stating that the reports are factually incorrect and not based on any official communication from the company.
In a statement released to the Zambian Business Times (ZBT), KCM’s Public Relations and Communications Manager, Victoria Kabwe Zimba, clarified that any future investment exceeding the currently approved $1 billion will be contingent on comprehensive feasibility studies. “Such plans will only be announced after receiving approval from the KCM Board.”
Vedanta Resources Limited has committed to investing over $1 billion in the development of Konkola Copper Mines (KCM). This pledge follows the Zambian government’s decision to return control of the mine to Vedanta, four years after KCM was placed under provisional liquidation in 2019.
Earlier, Konkola Copper Mines (KCM) Chief Operating Officer Malcolm Mewett, announced that about $400 million US dollars had been invested in KCM operations since Vedanta resumed management in August 2024.
KCM’s Public Relations and Communications Manager, Victoria Kabwe Zimba, emphasized that no official statement has been made regarding an additional $2.5 billion investment. However, she said KCM is taking steps to increase copper production to help meet Zambia’s national goal of producing 3 million tonnes of copper annually by 2031.
“Since resuming operations in August 2024, KCM has improved production performance,” Zimba said. “In August 2025, the company recorded 8,100 metric tonnes of finished copper, an increase from an average of 5,500 tonnes in December 2024, which reflects steady progress toward our production ramp-up targets.” She added.
