Cunico Resources, a metal miner with operations in eastern Europe and Zambia, has become the latest mining company to postpone its initial public offering, casting doubt on the pending $9bn (€6.7bn) float from mining giant Rusal.

Analysts expected Cunico to raise $580m in the flotation after setting a price range last week of between 180p and 240p per share. Credit Suisse and Deutsche Bank were leading the deal.