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Zambia's Konkola Copper Mines has appointed Rand Merchant Bank (RMB) as financial adviser as the government is looking for new investors to expand copper mines and smelters
.
The previous Zambian government placed KCM in liquidator hands in May 2019, triggering a legal dispute
with KCM's parent company, Vedanta Resources in India.
Zambia and Vedanta agreed this month to seek an out-of-court settlement
.
Interim liquidator Celine Nair said KCM was looking for a new equity partner willing to invest $1.
2 billion to expand the underground mine, adding that KCM aimed to secure funding
"as soon as possible.
"
Expanding and upgrading the KCM copper mine is seen as a key task for the government, which has set a target
of more than tripling the country's copper production to 3 million tonnes per year over the next decade.
Zambia is also looking for new investors to restart and expand its Mopani copper mine and smelter, previously owned by Glencore
.
Zambia's Konkola Copper Mines has appointed Rand Merchant Bank (RMB) as financial adviser as the government is looking for new investors to expand copper mines and smelters
.
The previous Zambian government placed KCM in liquidator hands in May 2019, triggering a legal dispute
with KCM's parent company, Vedanta Resources in India.
Zambia and Vedanta agreed this month to seek an out-of-court settlement
.
Interim liquidator Celine Nair said KCM was looking for a new equity partner willing to invest $1.
2 billion to expand the underground mine, adding that KCM aimed to secure funding
"as soon as possible.
"
Expanding and upgrading the KCM copper mine is seen as a key task for the government, which has set a target
of more than tripling the country's copper production to 3 million tonnes per year over the next decade.
Zambia is also looking for new investors to restart and expand its Mopani copper mine and smelter, previously owned by Glencore
.
