Vedanta’s copper biz to be listed

Nov 17, 2010 |

Correspondent

India-focused mining group Vedanta plans to list its Zambian copper business on the London stock exchange to unlock value, raising $1.1 billion to expand output at the unit, it said on Tuesday. The global offering will consist of existing and new shares in Konkola Copper Mines (KCM), the second-biggest integrated copper producer in Africa, said.“The IPO will provide investors with an opportunity to participate in the growth of this integrated and pure play copper company with the liquidity of a London listing,” Mr Kishore Kumar, CEO of KCM’s holding company Konkola Resources, said.

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