COPPER Tech Metals, the Zambian copper producer set up by Vedanta Resources, has filed for a US initial public offering, reporting a more than threefold rise in revenue as it seeks to capitalise on Washington’s push for mineral self-reliance, said Reuters.
The company, which owns and operates Konkola Copper Mines in Zambia’s Copperbelt, reported net sales of $1.33bn for the year ended March 2026, up from $398m a year earlier, the newswire said. It plans to list on the New York Stock Exchange under the ticker “CUX”, with Citigroup, Cantor, BMO Capital Markets and RBC Capital Markets among the underwriters.
Vedanta announced plans to launch CopperTech in November 2025, with a confidential filing submitted the same month. The IPO proceeds will primarily fund production expansion at Konkola, with additional investment earmarked for exploration across its operational sites and selected international jurisdictions.
The listing is timed to coincide with growing US policy interest in copper. The Trump administration added the metal to its list of minerals deemed essential to the economy and national security last year, as part of a broader effort to reduce dependence on imports from China.
CopperTech said it aimed to benefit from structural growth in copper demand driven by AI infrastructure buildout, data centre expansion, the energy transition and rising defence spending.
The filing comes as US IPO activity recovers, with high-profile candidates including SpaceX and Anthropic also reported to be weighing public listings, said Reuters.
