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Bond Market News
Vedanta Said to Consider Listing KCM to Raise ~$1bn
April 24, 2025
Vedanta Resources is said to consider listing its Zambian Konkola Copper Mines (KCM) unit in the US, among its options to raise $1bn for mine development, as per sources. They noted that the company has hired Barclays and Citigroup to advise on the listing. “We continue to evaluate a range of financing options, including internal accruals, debt instruments, and equity options, as we invest and grow our operations across the world,” a spokesperson for the company said. Vedanta has earlier indicated plans to raise capital in order to increase copper output to about 300,000 mt/year over the next five years. Vedanta’s US-based entity, Global Transition Resources Inc is said to be producing copper, cobalt and gold in Africa, but there is no confirmation that this entity will house the assets if it gets listed. Vedanta Resources owns an 80% stake in KCM while the Zambian government holds the remainder.
Vedanta’s recently issued 9.85% 2033s traded stable at 91.32, yielding 11.51%.
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