Vedanta Mining News

Zambia orders Vedanta unit to get rid of Chilean copper

The country’s environmental management authority found the copper concentrate imported from Chile had high levels of arsenic, a toxic substance.

Vedanta forces 133 of its Zambian workers to take paid leave

Konkola Copper Mines, owned by Vedanta, said the move was a result of poor metal prices, which has hit the global copper industry very hard.

India picks worst time to resume iron ore mining — analysts

India's private iron ore producers are likley to suffer the effects of high costs, low prices and a poor export market.

Zambia power cuts feed copper supply worries, lift prices

Power restrictions could hit output of most copper mines operating in the country.

Zambia mining industry says new rules to scare investors, deter local processing

The Chamber of Mines wants the government to reconsider its decision to hike corporate income tax rate on mineral processing from 30% to 35%, which came in effect July 1.

Zambia to slash royalties, reinstate mining tax

The move puts an end to a nearly nine-month standoff that has hit output and profits in Africa’s second largest copper producer.

Zambia sells stake in state-owned copper miner

The country's national pension fund has bought 15.9 million shares of Zambia's Consolidated Copper Mines-Investment Holdings for almost $80 million.

Zambia mulls cutting mining royalties even further

Mines minister Christopher Yaluma said reducing royalties below the recently revised 9% would make underground mining more cost effective.

It’s official: Zambia scales back mining royalties to 9%

The announced changes will be effective on July 1, once parliament has approved them.

Zambia goes after First Quantum over layoffs

Government claims it was not notified according to the law.

IMF in favour of Zambia mining tax changes

But the fund warned that only further tightening of fiscal and monetary polices would contain the country's large deficits.

Zambia eases tax rules, to start refund talks on a ‘company-by-company basis’

The new rules only apply to future payments and not amounts already owed.

Most copper producers in Zambia losing money — Chamber of Mines

The situation may soon change, as authorities have began talks with the country’s top miners, signalling the possibility of a compromise over the country’s new tax regime.

First Quantum warns Zambia tax hike will cost jobs, investment drop

The miner, Zambia's largest foreign investor, operates Kansanshi mine, the eighth largest copper mine in the world, as well as the country's biggest.

Zambia launches major overhaul of mining tax, increases royalties

Underground mining royalties will go up from 6% to 8%; underground taxes now 20%.

Zambia tells Glencore mine closure, lay-offs ‘illegal’

Zambia’s mines minister says the company has not officially communicated the government its intentions as required under the country's law.

Glencore now idles zinc mine in Zambia over tax refund row

The company is cutting 169 jobs at the mine.

Glencore halts copper projects in Zambia over tax row

The standoff marks a major setback for the miner, which is in the process of upgrading its copper assets in Zambia hoping to increase output by at least 50% by 2017.

Former Rio Tinto chief Albanese has a new job: CEO of Vedanta

He has been working with Vedanta since September as chairman of Vedanta Resources Holding, a subsidiary of the Indian resources group.

Former Rio Tinto CEO Tom Albanese joins rival Vedanta

The news comes only nine months after Albanese was removed as CEO of the second-biggest miner and left the group with a $14billion charge.

Vedanta not interested in Rio's Canadian iron ore

Indian company pulls out of Rio Tinto iron-ore bid.

Vedanta halts plan to cut jobs in Zambian mines

Measure is expected to reduce tensions with the Zambian government, which threatened to take over the mine in May.

Miners leap on China's surprise interest rate cut

Vedanta, Rio Tinto, Anglo American and Kazakhmys all enter top ten risers after People's Bank of China tries to encourage spending.

Up to 8 bidders eyeing Ivanhoe Australia gold/copper mine stakes

Two sources with knowledge of the matter say second-round bids are due later this month, with preliminary interest seen from Anglo American, OZ Minerals, Vedanta Group and Aditya Birla Group.

Vedanta Group says mining ban in India hits iron ore output

London-listed diversified miner Vedanta Resources (LON:VED) announced today a significant drop in its full-year iron ore output, attributed to both a mining ban in India’s southern state of Karnataka and logistical bottlenecks in nearby Goa, which hurt one of its key profit generators.