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…