Vedanta's Copper Operation in Zambia Taps RMB to Help Raise Debt
Vedanta Resources Ltd. 's Zambian copper mining unit has hired Rand Merchant Bank to help raise as much as $1 billion in debt financing for the expansion of its operations in the country.
The unit of Vedanta — owned by Indian billionaire Anil Agarwal — has tasked RMB with tapping lenders to fund investment at Konkola Copper Mines, according to people familiar with the matter. The debt-funding plans are at an early stage, the people said, asking not to be named discussing a private matter.
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