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Vedanta to Invest $2 Billion in Saudi Arabia for Copper-Processing Facilities

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Synopsis:

Vedanta, controlled by Anil Agarwal, is investing $2 billion in Saudi Arabia to establish copper-processing facilities, supporting its Vision 2030 goals. The project includes a 400,000-tonne smelter and 300,000-tonne copper rod unit.

Vedanta news today

Vedanta, a global mining and metals powerhouse led by Anil Agarwal, has announced a significant investment of $2 billion in Saudi Arabia. This initiative aims to establish copper-processing facilities, reinforcing the kingdom's efforts to position itself as a global mining and metals hub. The project, which includes a copper smelter, refinery, and rod production facilities, aligns with Saudi Arabia’s Vision 2030.

Also read: CCI Approves Kotak Mahindra Bank’s ₹4,100 Crore Loan Portfolio Acquisition

VEDANTA LIMITED

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415.354.39 (1.06 %)

Updated - 07 May 2025
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Key Takeaways

  • Investment Scale: $2 billion committed by Vedanta.

  • Production Capacity: A smelter and refinery with 400,000 metric tonnes annually.

  • Copper Rod Facility: Up to 300,000 tonnes annual production capacity.

  • Economic Impact: Supports Saudi Arabia’s mining diversification goals under Vision 2030.

Project Highlights

  • Expanding Copper Processing

The planned copper smelter and refinery will boast an annual capacity of 400,000 metric tonnes. Additionally, a specialised facility will produce up to 300,000 tonnes of copper rods annually. These components are critical for industries such as electric cables and electronics.

  • Initial Operations in 2024

Vedanta will begin operations with a copper rod mill capable of producing 125 kilotonnes per year by 2024, requiring an investment of $30 million. Full commercial production is expected to commence by 2026.

Project Component

Capacity

Investment

Timeline

Smelter and Refinery

400,000 metric tonnes/year

$2 billion

2026 (full-scale)

Copper Rod Facility

300,000 tonnes/year

Included in $2B

2026

Initial Copper Rod Mill

125 kilotonnes/year

$30 million

2024

Also read: NTPC Green Energy and MAHAGENCO Form Joint Venture for Renewable Energy

Aligning with Saudi Vision 2030

Saudi Arabia’s Vision 2030 seeks to diversify the economy by boosting the mining and metals sectors. With untapped mineral resources estimated at $2.5 trillion, including copper, gold, and phosphate, the kingdom is rapidly attracting foreign direct investment. Vedanta’s project aligns with these ambitions, contributing to economic diversification and job creation.

Global Copper Demand and Vedanta’s Strategy

Global copper demand is expected to grow by 40% by 2040, driven by advancements in renewable energy and electric vehicles. Despite current oversupply challenges, Vedanta is positioning itself to capitalise on future price surges. This strategy is anticipated to enhance the company’s market presence and positively influence the Vedanta share price.

Vedanta’s $2 billion investment in Saudi Arabia underscores its commitment to global expansion and aligns with Saudi Arabia’s Vision 2030. This strategic move strengthens the region’s position in the global mining sector while catering to the rising demand for copper. As operations commence, this investment may significantly impact the Vedanta share price and copper markets worldwide.

Also read: Dabur Faces ₹320.6 Crore IGST Demand Confirmed by CGST Commissionerate

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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