Vedanta Eyes U.S Listing for Konkola Copper Mines (KCM)

Mining giant Vedanta Resources is exploring several strategies to raise capital for its Zambian operations, including a potential listing of Konkola Copper Mines (KCM) on the U.S. stock market, according to the company's Chief Financial Officer, Ajay Goel.

KCM, located in Zambia’s Copperbelt Province, boasts reserves and resources of about 16 million tonnes of contained copper, making it one of the world’s largest and highest-grade copper deposits, with grades exceeding 2.4%.

Speaking to PTI in New Delhi, Goel highlighted that, while no final decision has been made yet, listing KCM remains one of the options under serious consideration. “Given the current strong copper prices, the Konkola mine could truly be a gold mine,” he said.

Capital for Growth and Expansion

Vedanta’s immediate focus is on fully reviving KCM’s operations and scaling up production. The company aims to increase KCM’s copper output from 200,000 tonnes per annum to 300,000 tonnes per annum. It also plans to boost cobalt production from 1,000 tonnes per annum to 6,000 tonnes per annum.

The funds raised from a possible listing would be used to upgrade production capabilities, modernize infrastructure, and support future expansions.

KCM’s Strategic Importance

With its vast copper reserves and over 412,000 tonnes of contained cobalt resources, KCM holds a strategic position not just for Vedanta but for the global energy transition. Copper is a critical component in renewable energy technologies, electric vehicles, and other systems essential for achieving net-zero emissions goals. Cobalt is also a key mineral for battery production.

This places Konkola Copper Mines in a strong position to meet surging global demand for essential minerals in the coming decades.

Vedanta’s Wider Portfolio

Vedanta Resources Limited is the parent company for Vedanta Limited and Konkola Copper Mines. The group has diverse operations across commodities such as oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power, and glass substrates.

While the potential listing of KCM is still under discussion, Vedanta’s intentions signal a strong commitment to maximizing the value of its Zambian assets. If realized, a U.S. listing could bring fresh international investment into Zambia’s mining sector and further solidify KCM’s role as a key player in the global copper and cobalt markets.