KONKOLA Copper Mines, a unit of Vedanta Resources, plans to build a $317m coal-fired power station in southern Zambia to address chronic electricity shortages caused by the region’s dependence on hydropower, said Bloomberg News.
The 300MW facility will be developed in two phases, said Bloomberg citing a KCM statement that was published in the state-owned Zambia Daily Mail. The company is one of Zambia’s largest single consumers of electricity, the newswire said.
Vedanta recently applied to have its Zambian assets listed in New York as Copper Tech Metals. The company filed for a US initial public offering earlier this month in an effort to capitalise on Washington’s push for mineral self-reliance, said Reuters.
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.
KCM reported net sales of $1.33bn for the year ended March 2026, up from $398m a year earlier. It plans to list under the ticker “CUX”. Citigroup, Cantor, BMO Capital Markets and RBC Capital Markets among the underwriters.
