115 years ago, British engineers prefabricated the Victoria Falls Bridge in England, shipped it to Mozambique, and transported it by rail to Zimbabwe. Assembly took just 14 months and fit perfectly—all without computers! Today, it still carries trucks and cargo.
The return of Konkola Copper Mines (KCM) to Vedanta Resources comes at a perfect time! 🇿🇲🤝🇮🇳
It has one the largest reserves of copper and cobalt in the world, both important in energy transition⚡️♻️
Copper is a key metal for world's decarbonization. Demand is growing rapidly. In India, growth is over 20% annually. Vedanta acquired KCM in 2004 and made good profits when global copper prices were only $4,000. Now, global copper prices are around $8,500 and technologies are much superior so profitability will be much higher. 📈
Going forward, my thought is that we must maximize synergies between KCM and Vedanta Ltd's refining/smelter businesses in UAE 🇦🇪 & India 🇮🇳
KCM can be moved from Vedanta Resources to Vedanta Ltd at the right valuation.
We can create a fully integrated copper vertical and eventually, a successful global copper company, like Chile's Codelco and Mexico's Southern Copper. We have other big projects coming up in the copper blocks that we have won in auctions and smelters in international geographies.
I would welcome your feedback and ideas 💡💭
A DEBT TREATMENT MILESTONE FOR #ZAMBIA TODAY: we have reached an agreement on a comprehensive debt treatment with our Official Creditors under the #G20 Common Framework. This marks a significant step towards restoring Zambia’s long-term debt sustainability and economic growth - @S_Musokotwane - Finance Minister.
@IMF@WBG@EAZambia