Posted in | News | Copper | Mining Business

Vedanta Resources to List Zambian Copper Arm on London Stock Exchange

Indian mining company Vedanta Resources is going to list its Zambian copper arm on the London Stock Exchange in a bid to raise $1.1 billion as per a statement by the firm on Tuesday. The Konkola Copper Mines are owned 79% by Vedanta Resources.

Vedanta Resources will retain a majority holding despite the listing. If the listing takes place this year it will be the 5th Indian owned company to be listed on the London Stock Exchange in 2010. The others include Essar Energy, I-Energizer, Caparo Energy and Skil Ports

The money raised from the public listing of Konkola Resources will be used to expand its mines in Zambia and to repay debt, Mr Anil Agarwal, chairman of the group, said. Konkola Resources will also be listed separately on the Lusaka Stock Exchange.

The company operates the Konkola and Nchanga mines in Zambia. Konkola Resources has produced 173,000 metric tons of copper in the last financial year. It hopes to produce more than 400,000 metric tons annually by 2014.

Joel Scanlon

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Vedanta Resources plc. (2019, March 19). Vedanta Resources to List Zambian Copper Arm on London Stock Exchange. AZoMining. Retrieved on June 18, 2024 from https://www.azomining.com/News.aspx?newsID=1449.

  • MLA

    Vedanta Resources plc. "Vedanta Resources to List Zambian Copper Arm on London Stock Exchange". AZoMining. 18 June 2024. <https://www.azomining.com/News.aspx?newsID=1449>.

  • Chicago

    Vedanta Resources plc. "Vedanta Resources to List Zambian Copper Arm on London Stock Exchange". AZoMining. https://www.azomining.com/News.aspx?newsID=1449. (accessed June 18, 2024).

  • Harvard

    Vedanta Resources plc. 2019. Vedanta Resources to List Zambian Copper Arm on London Stock Exchange. AZoMining, viewed 18 June 2024, https://www.azomining.com/News.aspx?newsID=1449.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.