VED.L - Vedanta Resources plc

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  • Reuters - UK Focus

    EXPLAINER-Zambia's moves on Vedanta, KCM alarm mining industry

    LUSAKA/LONDON, May 31 - Zambia's decision to name a provisional liquidator to run Vedanta Resources' Konkola Copper Mines (KCM) business, one of the country's biggest employers, has rattled international miners concerned about rising resource nationalism. Vedanta, founded by Indian billionaire Anil Agarwal, is seeking international arbitration over Zambia's appointment of the provisional liquidator, it said in a statement on Friday. Ahead of a court hearing in Zambia expected on June 4, which provides Vedanta with another chance to fight back, here are some responses to the questions thrown up by the case.

  • Vedanta CEO open to dialogue with Zambia
    Reuters

    Vedanta CEO open to dialogue with Zambia

    Vedanta Resources is open to dialogue with the Zambian government but will defend its legal rights and opposes the appointment of a provisional liquidator at its Konkola Copper Mines business, the company's CEO said on Monday. A court hearing involving Vedanta and Zambia over the control of KCM was adjourned on Friday until June 4. The government is pressing for the liquidation of KCM, which it has accused of breaching its operating licence, in a case that has stoked broader concerns among international miners about a rise in resource nationalism.

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