TLDR:
Vedanta to invest in Saudi copper.
Projects to strengthen copper supply chain.
Saudi Arabia secures metals investments at forum.
RIYADH (The Thursday Times) — Vedanta Copper International, a subsidiary of India-based Vedanta Resources, has announced plans to invest heavily in copper projects across Saudi Arabia. The initiative forms part of the kingdom’s broader strategy to establish itself as a global hub for critical minerals and reduce reliance on fossil fuel revenues.
Greenfield projects to boost Saudi copper production
Vedanta’s investments will include a greenfield copper smelter and refinery and a copper rod project, all aimed at strengthening Saudi Arabia’s industrial capacity. The company will initially launch operations with a copper rod mill, marking the start of its ambitious plans in the region. Over time, these facilities are expected to significantly enhance local production and self-sufficiency in the copper supply chain.
These investments are aligned with Saudi Arabia’s goals under Vision 2030, contributing to economic diversification and sustainable development. The projects are anticipated to create substantial employment opportunities and add billions to the kingdom’s GDP, solidifying Saudi Arabia’s standing as a key player in the global metals market.
Global partnerships reshape Saudi mining
The agreement between Vedanta and Saudi Arabia was finalised during the World Investment Conference, where Riyadh signed deals with global companies, including China’s Zijin Group. These partnerships reflect the kingdom’s commitment to revitalising its mining sector and securing investment for critical infrastructure.
Earlier this year, Saudi Arabia introduced a mineral exploration incentive programme as part of a long-term plan to attract global firms and elevate the country’s mining capabilities. This strategy is aimed at transforming the metals and mining industry into a cornerstone of the national economy.
Vedanta’s financial strategy supports expansion
As Vedanta Copper International prepares to enter the Saudi market, its London-based parent company, Vedanta Resources, has also been active on the financial front. The firm recently raised significant funding through a bond issuance, which underscores its capacity to undertake large-scale international projects.
Vedanta’s entry into Saudi Arabia highlights the increasing global interest in the kingdom’s economic transformation efforts. The collaboration is expected to accelerate industrial growth and create opportunities for regional and international stakeholders.
