Vedanta Seeks Deals With Traders to Help Fund Zambia Copper Mine

Vedanta Resources Ltd has approached trading houses as it seeks to raise capital to revive the Konkola copper mining and smelting complex in Zambia.

Billionaire Anil Agarwal’s Vedanta has discussed tolling and prepayment facilities with commodity traders, including Mercuria Energy Group, for output from Konkola Copper Mines Plc, according to people familiar with the matter. It’s also examining the sale of a minority stake in KCM as it explores ways to pay off creditors and invest in the mines that entered provisional liquidation in 2019, the people said, asking not to be identified because the talks are private.

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