Vedanta Eyes US Listing for Zambian Copper Dream

Vedanta Resources is considering multiple options, including a US listing, to raise funds for its Zambian copper asset, Konkola Copper Mines, which boasts high-grade copper and significant cobalt reserves.

Vedanta Resources, a major player in the mining sector, is exploring several avenues to bolster its financial resources, with a keen interest in listing its Zambian copper asset, Konkola Copper Mines (KCM), on the US stock market.

KCM is renowned for its rich copper deposits, tipping the scales at 16 million tonnes, and holds one of the highest grades of copper globally. Vedanta's Chief Financial Officer, Ajay Goel, emphasized the potential of these mines, calling them a 'gold mine' given current copper market prices.

While specifics on the valuation and potential funds raised remain undecided, the focus is on enhancing KCM's operational capabilities and boosting its production targets. The move aligns with the increasing demand for copper driven by energy transition technologies and digitally advancing economies.

(With inputs from agencies.)