CopperTech Metals, a copper miner with operations in Zambia spun out of Vedanta, postponed its IPO on Tuesday, citing market conditions. It had filed to raise $400 million by offering 23.5 million shares at a price range of $16 to $18.
CopperTech Metals is a US-domiciled copper and cobalt producer controlling one of the largest copper systems in the Central African Copperbelt, anchored by its flagship asset, Konkola Copper Mines, 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, refinery, and tailings leach plant. CopperTech plans to deploy $2.7 billion in capital expenditures over the next five fiscal years, targeting average production of approximately 270 Ktpa from FY2030, as demand for copper grows across artificial intelligence infrastructure, data centers, and grid electrification.
The primary shareholder is Vedanta Resources.
The New York, NY-based company was founded in 2025 and booked $1.3 billion in revenue for the 12 months ended March 31, 2026. It had planned to list on the NYSE under the symbol CUX. Citi, Cantor Fitzgerald, BMO Capital Markets, RBC Capital Markets, TD Securities, Stifel, and William Blair were set to be the joint bookrunners on the deal.
