A high-level delegation from Vedanta Resources has met with President Lungu, announcing that Vedanta intends to invest $1 billion in its Zambian subsidiary, Konkola Copper Mines (KCM), in the process creating 7,000 jobs. “I want KCM to be the largest integrated copper producer in Africa, the pride of Zambia, and Vedanta’s hub for copper and cobalt production in Africa,” Vedanta chairman Anil Agarwal stated. He explained that to date Vedanta has invested almost $4 billion in KCM. Agarwal was accompanied by Vedanta CEO Tom Albanese and KCM CEO Steven Din. There has been a lot of uncertainty about KCM’s future in recent years, as the company has built up a staggering debt of $1 billion+ amidst allegations that it is externalising profits. In addition, Foil Vedanta, a grass-root organisation set up to bite at Vedanta’s heels, has claimed that Vedanta has not injected any capital into KCM, but that its investment mostly consists of internally generated cash flows and borrowing from banks.