IBOV 171,336.99 ▼ 0.52% IPC MEX 71,905.78 ▲ 0.05% MERVAL 2,848,945 — — USD/BRL5.58▼ 0.01% USD/MXN18.59▼ 0.21% USD/CLP983.69▲ 1.70% USD/COP3,294▲ 0.60% USD/PEN3.42▲ 0.36% USD/ARS1,545▼ 0.03% USD/UYU40.43▲ 3.48% USD/PYG6,196▲ 2.20% USD/BOB11.68▲ 1.36% USD/DOP60.46▲ 2.41% USD/CRC445.62▲ 1.58% USD/GTQ7.64▲ 2.97% USD/HNL26.89▲ 0.13% USD/NIO36.62▲ 1.17% USD/VES899.36▲ 0.14% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.69▲ 2.36% USD/TTD6.72▲ 2.30% EUR/BRL6.23▲ 0.80% BRENT 91.89 ▲ 0.44% WTI 86.11 ▲ 0.08% IRON ORE 161.91 — — COPPER 6.31 ▲ 1.49% GOLD 4,064 ▲ 0.83% SILVER 52.95 ▲ 3.62% SOY 1,227 ▲ 0.16% CORN 449.00 — 0.00% WHEAT 602.25 ▲ 1.60% COFFEE 272.20 ▼ 0.51% SUGAR 18.29 ▲ 1.11% ORANGE JUICE 146.15 ▲ 5.64% COTTON 82.68 ▲ 5.07% COCOA 4,724 ▼ 5.60% BEEF 219.15 ▲ 1.36% CATTLE 330.48 ▲ 0.65% LITHIUM 59.98 ▼ 2.23% PETR4 44.95 ▼ 0.53% VALE3 64.80 ▼ 1.98% ITUB4 41.20 ▼ 1.25% BBDC4 14.54 ▼ 0.95% ABEV3 15.79 ▲ 1.15% BBAS3 17.10 ▲ 0.47% B3SA3 14.48 ▼ 2.49% WEGE3 50.95 ▲ 0.41% PRIO3 60.02 ▲ 1.06% SUZB3 54.46 ▲ 0.48% RENT3 29.79 ▼ 3.37% AZZA3 14.73 ▼ 2.58% CSAN3 2.68 ▼ 3.25% RAIZ4 0.30 ▼ 98.77% PCAR3 2.56 ▲ 5.35% GMAT3 3.81 ▼ 0.52% PSSA3 46.67 ▲ 2.23% CVCB3 0.86 ▼ 1.15% POSI3 3.15 ▲ 3.96% SLCE3 17.09 ▼ 1.21% NATU3 5.55 ▼ 2.80% BRKM5 2.92 ▼ 3.31% RANI3 8.45 ▼ 3.54% CSNA3 4.38 ▼ 2.45% IBOV 171,336.99 ▼ 0.52% IPC MEX 71,905.78 ▲ 0.05% MERVAL 2,848,945 — — USD/BRL 5.58 ▼ 0.01% USD/MXN 18.57 ▼ 0.29% USD/CLP 983.69 ▲ 1.70% USD/COP 3,294 ▲ 0.60% USD/PEN 3.42 ▲ 0.35% USD/ARS 1,545 ▼ 0.03% USD/UYU 40.43 ▲ 3.48% USD/PYG 6,196 ▲ 2.20% USD/BOB 11.68 ▲ 1.36% USD/DOP 60.46 ▲ 2.41% USD/CRC 445.62 ▲ 1.58% USD/GTQ 7.64 ▲ 3.18% USD/HNL 26.89 ▲ 3.05% USD/NIO 36.62 ▲ 1.17% USD/VES 899.36 ▲ 0.14% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.69 ▲ 2.46% USD/TTD 6.72 ▲ 2.30% EUR/BRL 6.23 ▲ 0.80% BRENT 91.89 ▲ 0.44% WTI 86.11 ▲ 0.08% IRON ORE 161.91 — — COPPER 6.31 ▲ 1.49% GOLD 4,064 ▲ 0.83% SILVER 52.95 ▲ 3.62% SOY 1,227 ▲ 0.16% CORN 449.00 — 0.00% WHEAT 602.25 ▲ 1.60% COFFEE 272.20 ▼ 0.51% SUGAR 18.29 ▲ 1.11% ORANGE JUICE 146.15 ▲ 5.64% COTTON 82.68 ▲ 5.07% COCOA 4,724 ▼ 5.60% BEEF 219.15 ▲ 1.36% CATTLE 330.48 ▲ 0.65% LITHIUM 59.98 ▼ 2.23% PETR4 44.95 ▼ 0.53% VALE3 64.80 ▼ 1.98% ITUB4 41.20 ▼ 1.25% BBDC4 14.54 ▼ 0.95% ABEV3 15.79 ▲ 1.15% BBAS3 17.10 ▲ 0.47% B3SA3 14.48 ▼ 2.49% WEGE3 50.95 ▲ 0.41% PRIO3 60.02 ▲ 1.06% SUZB3 54.46 ▲ 0.48% RENT3 29.79 ▼ 3.37% AZZA3 14.73 ▼ 2.58% CSAN3 2.68 ▼ 3.25% RAIZ4 0.30 ▼ 98.77% PCAR3 2.56 ▲ 5.35% GMAT3 3.81 ▼ 0.52% PSSA3 46.67 ▲ 2.23% CVCB3 0.86 ▼ 1.15% POSI3 3.15 ▲ 3.96% SLCE3 17.09 ▼ 1.21% NATU3 5.55 ▼ 2.80% BRKM5 2.92 ▼ 3.31% RANI3 8.45 ▼ 3.54% CSNA3 4.38 ▼ 2.45%
since 2009
Wednesday, November 11, 2026

Africa Africa Critical Minerals

Zambia’s Nchanga Copper Smelter Restarts After 106-Day Shutdown

By · · 7 min read
Mine headgear towers above an excavated pit at the Nkana mine on Zambia's Copperbelt
Headgear at the Nkana mine on Zambia’s Copperbelt, the mining region that is also home to the Nchanga smelter. File photograph. (Photo: Rio Times media library)

Zambia · Mining

Key Facts

  • The country — Zambia is a landlocked southern African country of roughly 21 million people. Copper is its main export and the single biggest source of the foreign currency it earns.
  • The plant — The Nchanga smelter sits at Chingola in the Copperbelt, near the Congolese border, and can produce up to 311,000 tonnes of copper a year. Konkola Copper Mines runs it.
  • Why it stopped — Konkola Copper Mines took the smelter offline on 29 May 2026 for a planned 60-day overhaul, its first major refurbishment in eight years. Inspections then found more critical work.
  • What happened — The smelter has cast its first anode, the slab of nearly pure metal a smelter pours before refining, after 106 days idle. The company confirmed the restart on Monday 21 September 2026.
  • Who owns it — India’s Vedanta group holds 79.4 percent of Konkola Copper Mines; ZCCM-IH, a state-controlled holding company, owns 20.6 percent. The overhaul cost about US$40 million.
  • What it means for you — A working smelter supports Zambia’s copper exports and the earnings behind them. For investors, it is the clearest sign yet that Vedanta is spending on a troubled mine.
  • Still open — The company has not said when output will reach capacity. A US$498 million contract with China’s NERIN, for a plant recovering metal from old mine waste, takes effect only once conditions are met.

One of Zambia’s largest smelters is casting metal again after a US$40 million overhaul. Its owner, India’s Vedanta, calls it proof that it is rebuilding a troubled mine.

Free daily brief — no card needed
Get every Africa story in one morning email
We build you a personalized brief around the topics you follow — free for 7 days. Love it? Your first month after that is US$1.

The Nchanga smelter restart has put one of Zambia’s largest metal plants back to work after a 106-day shutdown. Konkola Copper Mines, the Zambian unit of India’s Vedanta group, has cast its first anode after a US$40 million overhaul.

An anode is the slab of nearly pure metal a smelter pours before final refining. The trade publication Shanghai Metals Market reported the milestone on 17 September 2026.

Konkola Copper Mines, known as KCM, confirmed the restart in a statement on Monday 21 September 2026, according to Reuters. The plant sits at Chingola, in Zambia’s Copperbelt province near the border with the Democratic Republic of Congo.

A 60-day job that took 106 days

KCM announced on 29 May 2026 that it was taking the smelter offline for a planned 60-day maintenance programme. At the time it expected the plant to return in August.

It took 46 days longer. The shutdown ran to 106 days “after detailed inspections identified additional critical work,” KCM said in its statement, as reported by Reuters.

The company says crews repaired the flash smelting furnace, the slag-cleaning furnace and the waste-heat recovery boiler. They also worked on the electrostatic precipitators, which filter dust from furnace gases. Other work covered the anode casting wheel, the acid plant and the oxygen plant.

More than 1,500 workers, including KCM staff and contractors, took part without a major injury, the company said. It was the first major refurbishment of the plant in eight years.

What the smelter does

The Nchanga smelter was built by Vedanta for about US$350 million and commissioned in 2010. It can produce up to 311,000 tonnes of copper a year, according to Reuters and the price agency Fastmarkets.

That figure is capacity for copper anode, the smelted metal, not the tonnage of ore concentrate fed into the furnaces. KCM’s own mines produced far less: 80,215 tonnes of copper in 2025, according to Zambia’s mines ministry.

The smelter also makes sulphuric acid, which KCM’s leach plants use to dissolve metal from ore and waste. During the shutdown the company kept its tailings leach plant running on bought-in acid and a smaller acid unit.

A large yellow mining haul truck crosses a dusty road at a mining site
A haul truck crosses a road at a mining operation on the Central African Copperbelt. File photograph.
Live Market IntelligenceCommodities — Live Market BoardInside: market breadth, the sector heatmap, currencies & rates, the Latin America scoreboard and the full instrument board.

Rio Times · Live Market Intelligence

Commodities — Live Market Board

Global
Nov 11, 2026 · 06:35

Brent crude · benchmark
91.89
+0.44%
L 91.61day rangeH 92.68

+41.02% over 12 months

Market breadth · 14 names
79% advancing

11 ▲ advancing3 declining ▼

Currencies, rates & key inputs
Gold
4,064
+0.83%

Silver
52.95
+3.62%

Copper
6.31
+1.49%

Iron ore
161.91
·

WTI crude
86.11
+0.08%

Full instrument board
Instrument Last Change YoY Prev. High Low Volume
GOLD 4,064 +0.83% -1.28% 4,030 4,075 4,034 38,864
SILVER 52.95 +3.62% +4.61% 51.10 53.17 51.42 15,195
BRENT 91.89 +0.44% +41.02% 91.49 92.68 91.61 4,536
WTI 86.11 +0.08% +41.07% 86.04 86.81 85.99 21,976
COPPER 6.31 +1.49% +25.03% 6.22 6.33 6.26 7,862
LITHIUM 59.98 -2.23% -2.91% 61.35 60.72 59.70 186,159
IRON ORE 161.91 — +56.34% 161.91 161.91 1
SOY 1,227 +0.16% +10.17% 1,225 1,230 1,223 16,295
CORN 449.00 +0.00% +3.94% 449.00 450.75 447.50 17,193
WHEAT 602.25 +1.60% +12.36% 592.75 603.75 591.00 13,829
COFFEE 272.20 -0.51% -35.60% 273.60 269.00 265.30 —
SUGAR 18.29 +1.11% +28.35% 18.09 18.30 18.17 2,564
COCOA 4,724 -5.60% -18.96% 5,004 5,053 4,764 —
ORANGE JUICE 146.15 +5.64% -17.24% 138.35 148.20 142.90 —
COTTON 82.68 +5.07% +29.43% 78.69 79.90 78.63 2,108
BEEF 219.15 +1.36% -3.54% 216.20 222.90 219.28 31,370
CATTLE 330.48 +0.65% -2.13% 328.35 327.40 322.15 8,910
USD/BRL 5.58 -0.01% +5.54% 5.58 5.59 5.58 —

Largest moves today
ORANGE JUICE
146.15
+5.64%
COCOA
4,724
-5.60%
COTTON
82.68
+5.07%
SILVER
52.95
+3.62%
LITHIUM
59.98
-2.23%
WHEAT
602.25
+1.60%
COPPER
6.31
+1.49%
BEEF
219.15
+1.36%

The session read
The Brent crude rose 0.44%, with breadth positive — 11 of 14 names higher. ORANGE JUICE led, while COCOA lagged.

Who said what

Satish Kumar, KCM’s deputy chief executive, framed the Nchanga smelter restart as a statement of intent by the owner. “This is more than the restart of a smelter,” he said in the company statement.

“It is visible evidence of Vedanta’s commitment to rebuilding KCM and securing the long-term future of its operations,” Kumar added.

Yoram Kapai, KCM’s smelter and refinery director, credited careful planning and the collective effort of the workforce. “Our immediate priority is to stabilise operations and sustain safe, reliable and efficient performance,” he said.

Ernest Lesa, who chairs the Nchanga branch of the Mineworkers Union of Zambia, praised managers and workers. He urged the company to keep the safety standards set during the shutdown.

An owner rebuilding after a long dispute

Vedanta is a London-registered mining group controlled by Indian billionaire Anil Agarwal. It holds 79.4% of KCM through its subsidiary CopperTech Metals. The other 20.6% belongs to ZCCM Investments Holdings, known as ZCCM-IH.

ZCCM-IH is the holding company through which Zambia’s government keeps stakes in the mines. The government owns 87.6% of it, according to the industry news site NS Energy.

In 2019 Zambia put KCM into provisional liquidation, handing control to a court-appointed liquidator. That started years of legal battles with Vedanta. Vedanta regained control in 2024 after paying about US$246 million to KCM’s creditors under a court-approved plan, Bloomberg reported.

The trade site Mining Technology reported that CopperTech Metals postponed a planned New York share listing in June, citing volatile markets. That listing was meant to help fund the expansion.

The bigger plan

The overhaul is part of a modernisation drive to lift KCM’s output toward 300,000 tonnes a year by 2030, the company said. That would be almost four times its 2025 production.

Zambia, Africa’s second-largest copper producer after the Democratic Republic of Congo, mined 890,346 tonnes in 2025. The government wants 3 million tonnes a year by 2031, Reuters reported.

In the same week, KCM said it had signed a US$498 million contract with China NERIN Engineering, a Shanghai-listed engineering firm. NERIN will build a plant in Chingola to recover metal from old mine waste, known as tailings.

KCM said in a statement on Thursday 17 September 2026 that the plant should add 70,000 tonnes a year, Reuters reported. It expects the facility to be the largest of its kind in Africa.

The contract is not yet effective and depends on conditions including an advance payment to NERIN, Mining Technology reported. For now, KCM’s stated priority is a steady ramp-up at the refurbished smelter.

When did the Nchanga smelter restart?

KCM cast its first anode after a 106-day shutdown. The trade publication Shanghai Metals Market reported the restart on 17 September 2026. KCM confirmed it in a statement on Monday 21 September 2026, according to Reuters. The shutdown had been announced on 29 May 2026 as a 60-day programme.

How big is the Nchanga smelter?

It can produce up to 311,000 tonnes of copper a year, according to Reuters. That is capacity for copper anode, the smelted metal, not ore concentrate. Vedanta built it for about US$350 million, and it was commissioned in 2010.

Who owns Konkola Copper Mines?

Vedanta holds 79.4% through its subsidiary CopperTech Metals. ZCCM-IH, the Zambian state’s mining holding company, owns 20.6%. Zambia placed KCM in provisional liquidation in 2019, and Vedanta regained control in 2024.

Why does the Nchanga smelter restart matter for Zambia?

Zambia wants to lift national output from 890,346 tonnes in 2025 to 3 million tonnes a year by 2031. The Nchanga smelter is one of the country’s largest, according to Reuters. KCM itself aims for 300,000 tonnes a year by 2030.

Sources: Reuters via Kitco on the restart, Shanghai Metals Market on the first anode, Zed Gossip carrying the KCM statement, KCM on the planned 60-day shutdown, KCM on its shareholders, Bloomberg via Mining.com on the payment to creditors, NS Energy on ZCCM-IH ownership, Reuters via Kitco on the NERIN contract, Zambia Monitor on the tailings plant, Mining Technology on the contract conditions and the CopperTech listing

Frequently Asked Questions

Africa Intelligence

One email, every weekday morning. African markets, politics and business — filed from our newsroom in Rio.

Yesterday’s subject line: “Biya, 93, sets Cameroon's vote for 7 February”

Free. We send a confirmation link first — nothing arrives until you click it. Unsubscribe with one click in any edition. If you stop opening us for 30 days we stop sending by ourselves, as we assume the interest is no longer there. See our privacy policy. We never share your email.


The Big Picture

Africa: The New Scramble — why the world’s powers are competing for the continent

This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error

Brazil runoff date: Sunday, October 25, poll closing times and when results start · Brazil runoff polls: Flávio 51%, Lula 49% · Kalshi and Polymarket odds

Rotate for Best Experience

This report is optimized for landscape viewing. Rotate your phone for the full experience.