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Billionaire-owned Vedanta seals Zambian copper assets deal

Billionaire-owned Vedanta seals Zambian copper assets deal

VEDANTA Resources and the Zambian government sealed an agreement that restores the Indian company's ownership of Konkola Copper Mines (KCM), ending a protracted ownership battle that stifled investment. Zambia's Mines Minister Paul Kabuswe witnessed the signing of the agreement between state firm ZCCM-IH with Chris Griffith, Vedanta's head of base metals, in Lusaka, officially handing the copper assets, which the state seized in 2019, back to Vedanta. The agreement will lead to the re-appointment of the KCM board and withdrawal of all legal challenges that are in court, including removing a provisional liquidator who was in charge of the assets, Kabuswe…
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Vedanta Resources settles Zambia copper mine pollution claim

Vedanta Resources settles Zambia copper mine pollution claim

VEDANTA Resources has agreed to settle all claims brought against it by Zambian villagers following pollution by a copper mine run by Konkola Copper Mines Plc (KCM), Vedanta and law firm Leigh Day said on Tuesday. The claim, centring on pollution from the Nchanga Copper Mine, was brought by more than 2,500 Zambian villagers against KCM - Zambia's biggest private employer - and its UK-based parent company Vedanta Resources. "Without admission of liability, Vedanta Resources Limited and Konkola Copper Mines Plc confirm that they have agreed, for the benefit of local communities, the settlement of all claims brought against them…
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