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2025
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06
Vedanta signs MOU to invest in Saudi Arabia and boost copper output
Vedanta Copper International, a 100% subsidiary of Vedanta Ltd, has signed a memorandum of understanding (MOU) with the Ministry of Investment and Ministry of Industries & Mineral Resources of the Kingdom of Saudi Arabia.
Published by Will Owen in Global Mining Review
Vedanta Copper International, a 100% subsidiary of Vedanta Ltd, has signed a memorandum of understanding (MOU) with the Ministry of Investment and Ministry of Industries & Mineral Resources of the
This collaboration aims to invest US$2 billion in significant copper projects, encompassing a 400 000 tpy
Vedanta’s initiatives support
Chris Griffith, CEO, Base Metals, Vedanta Ltd, remarked:
“We are thrilled and truly honoured to collaborate with the Kingdom of Saudi Arabia in its Vision 2030 initiative. Our projects will enhance the Kingdom’s self-reliance in the copper supply chain.
Together, these projects are expected to help create thousands of new jobs, facilitate the development of hundreds of downstream industries, and will contribute approximately US$19 billion to the national GDP. Over time, they will also help the Kingdom in achieving self-sufficiency in its copper supply chain.
Vedanta plans to commence operations in the Kingdom with a 125 000 tpy copper rod mill project, which requires an investment of approximately US$30 million. Commercial production is expected to start in full swing by FY 4Q25 – 2026.
The global annual demand for copper is expected to increase by 40% by 2040 driven by the global energy transition and the move towards a sustainable future
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