JKB Financial Services Ltd.

As on : 16-Mar-2026

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16-Mar-2026 11:47

Lloyds Metals commences commercial production of copper cathodes at Congo-based plant

The plant has successfully produced its first copper cathodes, confirming operational readiness and the start of commercial operations.

The project is operated through the company's subsidiary platform in which Lloyds Metals holds a 50% stake.

The platform includes 16 mining licences covering around 100 sq km in the Katanga region along with oxide copper ore deposits that supply feedstock for the solvent extraction and electrowinning (SX-EW) processing facility.

The company expects production ramp-up as mining and ore supply stabilise, with output estimated at 10,000'12,000 tonnes of copper cathodes in CY2026 and around 15,000 tonnes in CY2027.

Over the medium term, the platform has the potential to expand capacity to approximately 30,000 tonnes per annum supported by increased captive ore supply from the licensed mining areas.

The development marks the company's entry into the global copper value chain and diversifies its metals portfolio.

Lloyds Metals and Energy (LMEL) is the leading player in the iron and steel-making industry.

The company's consolidated net profit soared 169.05% to Rs 1,047.39 crore on 201.94% surge in revenue from operations to Rs 5,058.08 crore in Q3 FY26 over Q3 FY25.

The scrip rose 0.24% to currently trade at Rs 1144.60 on the BSE.

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