Mining conglomerate Vedanta Resources is exploring a potential listing of its Zambian asset, Konkola Copper Mines (KCM), on US exchanges as part of a broader capital-raising strategy.
With reserves and resources pegged at 16 million tonnes of contained copper and 412,000 tonnes of cobalt, the asset is being positioned as a future cornerstone of Vedanta’s growth.
Vedanta’s CFO Ajay Goel confirmed in an agency report that listing KCM is one of the strategic options under consideration. “We are looking at multiple options for raising capital. In the fullness of time, a listing is definitely one of them,” Goel told PTI.
However, he clarified that no final decision has been made yet, and the current focus remains on ramping up operations.
KCM currently produces around 200,000 tonnes of copper per annum, with plans to increase capacity to 300,000 tonnes per annum. Cobalt output, a critical element in battery manufacturing, is also set to rise from 1,000 tonnes to 6,000 tonnes per annum, placing KCM among the top five global cobalt producers.
“These are some of the highest-grade copper deposits in the world — in excess of 2.4%. At current copper prices, this mine is a literal gold mine,” Goel said, underscoring the strategic significance of the asset in the global energy transition.
Copper is a key enabler in the green energy shift — essential for electric vehicles, renewables, and digital infrastructure. With global demand soaring, Vedanta’s KCM stands out as a rare, scalable, high-grade asset that aligns with both geopolitical and sustainability imperatives.
Vedanta Resources Limited is the holding company for Vedanta Limited and Konkola Copper Mines, with a diverse portfolio spanning oil & gas, zinc, lead, silver, iron ore, aluminium, nickel, power, and glass substrate. The potential listing of KCM in the US is part of Vedanta’s effort to unlock value and attract long-term capital for growth across its critical mineral operations.
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