Billionaire-owned Vedanta seals Zambian copper assets deal

No 1 source of global mining news and opinion

Vedanta Resources and the Zambian government on Monday sealed an agreement that restores the Indian company’s ownership of Konkola Copper Mines , ending a protracted ownership battle that stifled investment.

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 said. Billionaire Anil Agarwal’s Vedanta mounted numerous legal challenges, including suing Zambia at the arbitration court in London, to regain control of KCM after former president Edgar Lungu’s government orchestrated the seizure of the copper assets by forcing the operations into liquidation in May 2019.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

mining /  🏆 449. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Vedanta posts loss on higher tax outgo and weak zinc pricesNo 1 source of global mining news and opinion
Read more »

What is the ‘Billionaire Bunker' in Miami and who lives there?Indian Creek, or Billionaire Bunker, is a private island in Biscayne Bay -- home to some of the biggest names in sports, entertainment and business.
Read more »

Billionaire-Backed Tech Group Finally Has Enough California Property to Build Their Own UtopiaA group of tech billionaires and venture capitalists who have been scooping up California properties in mysterious land deals now says it’s “assembled all the land it needs” for a proposed
Read more »

Jennifer Lopez's Pro Anastasia Soare Shares Her Journey from Brow Artist to Billionaire BusinesswomanAnastasia Soare, the woman behind Kim Kardashian, Jennifer Lopez and Oprah's perfectly shaped brows, reflects on her incredible career as her brand celebrates 25 years. Read the exclusive interview.
Read more »

Billionaire Bill Ackman calls out Harvard campus antisemitism in forceful open letterHarvard University alumnus and billionaire William 'Bill' Ackman sent a lengthy letter to the school's president Saturday regarding antisemitism on campus.
Read more »

Mike Lindell Slams Claims That He's a BillionaireThe MyPillow CEO responded to claims about his net worth on his live show, the Lindell Report.
Read more »