Discussions are in early levels, and no timeline has been finalised
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DANISH SIDDIQUI
Mining mogul Anil Agarwal’s Vedanta Resources might take a look at a potential US public itemizing for its Zambian unit, Konkola Copper Mines (KCM), among “different financing options”, as it appears to be like to boost roughly $1 billion for mine improvement.
Talks are on with a few funding bankers, sources stated, including that New York is amongst the possible itemizing options.
Discussions are in early levels, and no timeline has been finalised. In actual fact, “all financing options are on the desk”, the supply stated .
“We proceed to judge a spread of financing options, together with inner accruals, debt devices, and fairness options, as we make investments and develop our operations the world over. That is a part of our routine working process,” a Vedanta Useful resource spokesperson advised businessline.
Vedanta Resources, the supply stated, can be evaluating different financing options, together with debt and fairness, as nicely as inner accruals.
A US-based entity, International Transition Resources Inc has been established. “We are able to discover one, many or all of the financing options,” the supply stated.
The fund-raising plans aligns with Vedanta’s technique to fund the Konkola Deep Mining Challenge, leveraging high-grade copper and cobalt reserves amid rising demand for vitality transition minerals.
Vedanta Resources goals to provide 300,000 tonnes of copper each year from the Konkola Copper Mines (KCM) by 2030 .
In July final 12 months, Vedanta Resources Holdings confirmed that it has paid $245.75 million according to its dedication below the KCM scheme of association. This paved the way in which for the approaching reinstatement of the Board of Administrators of the KCM and the return of full administration management to Vedanta, which was a crucial first step earlier than the miner ramps up manufacturing.
With high-grade Copper deposits in extra of two.4 per cent, KCM is likely one of the largest deposits of high-grade copper on the planet.
Vedanta Resources Ltd has raised $3.1 billion in US greenback bonds since September 2024.
Revealed on April 23, 2025
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