LUSAKA Indian mining company Vedanta Resources said on Friday it will invest $1 billion in Zambia's Konkola Copper Mines (KCM), which it sees having the potential to produce the metal for another 50 years.
Vedanta has a majority stake in KCM.
The investment, which is expected to create 7,000 jobs, was announced after a meeting between Zambian President Edgar Lungu and Vedanta's Chairman Anil Agrawal. (Reporting by Chris Mfula; Writing by Olivia Kumwenda-Mtambo; Editing by Susan Fenton)
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Published Date: Mar 24, 2017 21:22 PM | Updated Date: Mar 24, 2017 21:22 PM