Vedanta Resources said Thursday its Zambian subsidiary KCM plans to set up new copper smelter, cobalt refinery and more under a $1 bln investment programme.
One of China's top copper smelters has reduced production by 20-30 percent to comply with winter output restrictions, a company official said on Thursday.
The remote town of Nueva Fuerabamba was built to house around 1,600 people who gave up their village and farmland to make room for a massive, open-pit copper mine.
The seeds of Tuesday's 4.6 percent copper slump -- the sharpest in almost three years -- were planted in a scarcely noted non-event earlier this month.
