Vedanta Resources, the London-headquartered mining and metals conglomerate, has announced a $1.5 billion investment to launch CopperTech Metals Inc., a US-domiciled subsidiary designed to enhance America’s copper independence and accelerate its clean energy ambitions.
The new entity will own and operate Vedanta’s Konkola Copper Mines (KCM) in Zambia, one of the world’s richest copper deposits, boasting ore grades of 2.9%—nearly four times the global average. Priya Agarwal-Hebbar, Director at Vedanta and Chairperson of Hindustan Zinc, will head CopperTech Metals as Chairperson.
Scaling Copper Output for the Energy Transition
CopperTech Metals will focus on scaling Vedanta’s copper production from 140,000 tonnes annually in FY26 to 300,000 tonnes by 2031, with a long-term goal of 500,000 tonnes per year, positioning KCM among the world’s top integrated copper producers.
According to Vedanta, the new investment builds upon its existing $3 billion commitment in KCM and will deploy AI-driven exploration and extraction technologies to enhance production efficiency.
Rising Copper Demand and Strategic Positioning
Global copper demand is expected to surge by over 40% by 2040, fueled by AI data centers, electric vehicles, and grid modernization. The United States currently imports 45% of its refined copper, while China controls over 45% of global production, creating a strategic gap CopperTech aims to fill.
Vedanta founder and chairman Anil Agarwal called the launch a “historic and pivotal moment” that connects “America’s critical mineral needs with Zambia’s copper legacy.”
Leveraging the Lobito Corridor for Global Supply Chains
CopperTech’s logistics advantage will be strengthened through the US-backed $10 billion Lobito Corridor, linking Zambia’s Copperbelt to Angola’s Atlantic coast for faster access to global industrial markets.
With integrated mining, smelting, and recycling facilities, KCM is positioned to become a cornerstone of sustainable and efficient copper supply for the global energy transition.
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