Receive our newsletter – data, insights and analysis delivered to you
  1. News
August 8, 2019updated 10 Nov 2021 4:45am

Zambian court blocks Vedanta’s bid to stop Konkola copper mine sale

The Lusaka High Court of Zambia has reportedly blocked Vedanta Resources’ bid to stop the sale of Konkola Copper Mines (KCM) business.

The Lusaka High Court of Zambia has reportedly blocked Vedanta Resources’ bid to stop the sale of Konkola Copper Mines (KCM) business.

Zambia is Africa’s second biggest copper producer. KCM, which is 20% owned by Zambia’s state mining company and 80% owned by Vedanta, has been accused of violating its licence terms, reported Reuters.

The claims have been denied by Vedanta. Lusaka has appointed a liquidator to run KCM.

Vedanta was quoted by Reuters as saying: “Vedanta is reviewing the ruling and will then make a decision on its next steps.”

Last month, Zambia was asked by South Africa’s High Court to temporarily terminate the proposed sale of KCM.

Zambian Mines Minister Richard Musukwa was cited by Reuters as saying that “foreign judgements were not enforceable in Zambia unless they were registered in local courts.”

In April this year, a group of over 2,000 Zambians was allowed to take Vedanta Resources to court in the UK over pollution caused by the KCM.

Vedanta Resources-owned Konkola Copper Mines (KCM) stopped operations at its Nchanga mine in Zambia in January due to import duties on copper concentrates.

Konkola also launched the Safety Stand Down campaign in July last year to address mine accidents and fatalities as part of the company’s commitment to increase its overall mineral production.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The mining industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU