The split of Weidenta's copper mining company CopperTech Metals (CUX.US) has priced its US stock IPO at $16-18 per share, aiming to raise $400 million.

CopperTech Metals, a Zambian copper mining company spun off from Vedanta in India, announced the terms of its initial public offering (IPO) on Tuesday. The New York-based company plans to raise $400 million by issuing 23.5 million shares of stock, with a price range of $16 to $18 per share. At the midpoint of the price range, CopperTech Metals' fully diluted market value will reach $3.4 billion. CopperTech Metals is a U.S.-registered copper-cobalt producer with one of the largest copper mining systems in the Central African Copperbelt, with its flagship asset being the Konkola Copper Mines in the Copperbelt Province of Zambia. The company operates an integrated mining platform with decades of resource reserves, relying on existing mines, concentrators, smelters, refineries, and tailings leach plants among other infrastructure. With the continuous growth in copper demand from artificial intelligence infrastructure, data centers, and electrification of power grids, CopperTech plans to invest $2.7 billion in capital expenditures over the next five fiscal years, aiming to achieve an annual production of around 270,000 tons in the fiscal year 2030. Founded in 2025, CopperTech Metals reported revenues of $1.3 billion in the twelve months ended March 31, 2026. The company plans to list on the New York Stock Exchange (NYSE) under the ticker symbol "CUX". The joint bookrunners for this IPO include Citi, Cantor Fitzgerald, BMO Capital Markets, RBC Capital Markets, TD Securities, Stifel, and William Blair. The IPO is expected to be priced during the week of June 29, 2026.