Vedanta aims to raise $1 bln via debt to fund Zambian copper mines
Vedanta Resources VDAN.NS> is trying to raise around $1 billion in debt financing to fund development of its Konkola Copper Mines (KCM) in Zambia, Chris Griffith, head of the company's base metals unit, said.
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The Indian company, which owns 80% of KCM, said last year it planned to sell at least 30% of its holding in the copper mines.
But Griffith said selling a stake looked less likely.
«We are in a much higher likelihood that we can raise the funds from a range of financing options,» Griffith told Reuters on the sidelines of the Mining Indaba conference in Cape Town.
«We own 80% of the business and clearly we'd prefer to continue owning 80% of the business.»
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