Konkola Signs US$498 Million Tailings Plant Deal
Konkola Copper Mines has contracted China NERIN Engineering to build a Tailings Leach Plant at Nchanga in Zambia.
Updated on Nov. 6, 2026 in Corporate Finance
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Konkola Copper Mines signed a US$498 million engineering, procurement and construction agreement with China NERIN Engineering for a new Tailings Leach Plant at Nchanga. ZCCM Investments Holdings approved the project in September 2026.
Why it matters
The plant is designed to turn historical tailings into copper output without new mining, adding production from existing material. It is expected to be the largest tailings leach plant in Africa.
The US$498 million contract is funded from internally generated resources, and the plant is outside Vedanta Resources' initial US$1 billion investment programme for Konkola Copper Mines. Studies confirm a 74 per cent commercial recovery rate, but the source does not report the cost per tonne of copper produced.
The players
Konkola Copper Mines
Konkola Copper Mines is a Zambian copper producer that is 79.4% controlled by CopperTech Metals and is commissioning the new tailings plant.
China NERIN Engineering
China NERIN Engineering is a Chinese engineering firm contracted to deliver the Tailings Leach Plant on a turnkey basis.
ZCCM Investments Holdings
ZCCM Investments Holdings is a Zambian state-linked investment entity that holds a 20.6% equity stake in Konkola Copper Mines and approved the plant.
Vedanta Resources
Vedanta Resources is a London-listed mining conglomerate that controls CopperTech Metals, the majority owner of Konkola Copper Mines.
The details
The plant will use solvent extraction and electrowinning to produce LME Grade A copper cathode from the TD5 dam tailings. China NERIN will deliver the facility on a turnkey basis, including commissioning, performance testing and training.
Timeline
September 2026: ZCCM Investments Holdings approved the Tailings Leach Plant.
17 September 2026: Konkola Copper Mines signed the US$498 million agreement with China NERIN.
October 2026: ZCCM Investments Holdings reported its approval of the plant.
Implementation is expected to take 24 months.
Output is expected to reach full capacity in the fourth year of operation.
Market Landscape
The project positions Konkola within a broader shift toward recovering copper from legacy tailings rather than relying solely on new mining. Its reliance on SX-EW technology places it in the established copper recovery method used across the sector.
Shareholders in Konkola Copper Mines, including ZCCM Investments Holdings, will see the plant's returns depend on recovering copper from the 546 Mt tailings base. The source does not state how the project will affect dividends or share value.
The takeaway
Historical mine tailings can be a revenue source when the recovery process is economically viable. Investors tracking mining companies can watch whether projects like this one reach their stated 24-month implementation and full-capacity targets.
Further reading
For more on corporate deals like this, explore Corporate Finance coverage.
Source note: This article includes information reported by International Mining.
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