Vedanta spin-off CopperTech yet to announce IPO value on NYSE
The NYSE will soon welcome its newest mining company, in integrated copper and cobalt producer CopperTech Metals, with the company having filed a registration statement with the US Securities and Exchange Commission for its initial public offering (IPO).
CopperTech, which is a spin-off of Vedanta Resources, has not yet determined the number of shares to be offered and the price range for the proposed IPO.
Citigroup and Cantor are acting as joint book-running managers for the proposed offering.
BMO Capital Markets, RBC Capital Markets, TD Securities, Stifel, William Blair, and Needham & Company are acting as book runners for the proposed offering, with Roth Capital acting as co-manager.
CopperTech will trade under the ticker symbol "CUX".
CopperTech is a US-domiciled copper and cobalt producer controlling one of the largest copper systems in the Central African Copperbelt, anchored by its flagship 79%-owned Konkola Copper Mines asset, located in Zambia's Copperbelt province.
The company operates an integrated mining platform with a multi-decade resource base, supported by existing infrastructure across mines, concentrators, a smelter, a refinery, and a tailings leach plant.
CopperTech has earmarked about $2.7-billion for planned capital expenditure between the 2027 and 2031 financial years, targeting average production of 270 000 t/y from 2030, as demand for copper grows across AI infrastructure, data centres, and grid electrification.
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