Tag: VEDANTA

Stakeholders welcome Vedanta’s $25m injection

By Musenge Mulimba The Association of Suppliers and Contractors has praised Vedanta for releasing 25 Million United States Dollars to maintain the integrity of the assets at Konkola Copper Mine- KCM Association President COSTA MWABA says the release of the money is a clear indication that the agreement is almost concluded between the investor and

Vedanta not yet in charge of KCM

By Brian Mwale Vedanta Resources Limited says it has not yet taken control of management at Konkola Copper Mines -KCM- until after the scheme of arrangement is completed. Vedanta Resources Zambia, Director Corporate Communications MASUZYO NDHLOVU says the scheme of arrangement is a court approved agreement between a company and its creditors. Mr. NDHLOVU says

Vedanta chief Agarwal makes ‘zero debt’ pledge after investor sell-off

(Financial Times)Indian mining mogul Anil Agarwal has insisted his Vedanta group has ample funding options and that it aims to become a “zero debt company”, as scrutiny of highly leveraged Indian conglomerates grows following the Adani Group short-seller attack. Bonds are currently junk-rated for Agarwal’s natural resources group, which is India’s biggest private miner and

ZCCM-IH TOLD TO REACH OUT TO VEDANTA

By Mary Kachepa- Government has directed ZCCM-IH to reach out to Vedanta Resources for an out of court settlement over Konkola Copper Mines -KCM. Mines and Minerals Development Minister PAUL KABUSWE says ZCCM-IH should send its lawyers to engage their counterparts from Vedanta over the matter as government is interested in dialogue. Mr. KABUSWE says

HH CLEARS AIR ON KCM, VEDANTA

By Clinton Masumba: President HAKAINDE HICHILEMA says government has NOT given back Konkola Copper Mines -KCM- to Vedanta Resources. The President has urged Zambians not to take serious social media postings about KCM. Speaking when he arrived in Ndola on the Copperbelt for a one day visit, President HICHILEMA said Government has only engaged the…

VEDANTA AGREES TO SUSPEND LEGAL ACTION

By Sharon Kunda- Vedanta Resources Limited has confirmed that it has agreed to suspend legal action to reclaim Konkola Copper Mines -KCM- pending talks to settle the dispute. KCM was placed under provisional liquidation after the former Patriotic Front Government accused the parent company Vedanta of being dishonest about expansion plans and underpaying tax. The…
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