Zambia and Vedanta agree to seek out-of-court settlement

Reuters | September 27, 2022 | 8:07 am Intelligence Top Companies Africa Asia Copper

Zambia starts search for new investor in Konkola Copper Mines

Konkola Copper Mines (KCM) is Zambia’s largest copper producer. (Image courtesy of Wikimedia Commons)

Zambia has agreed with Vedanta Resources Limited to pause hearings on their dispute over Konkola Copper Mines for six months and seek an “amicable settlement”, state mining investment firm ZCCM-IH said on Tuesday.

Zambia in May 2019 handed control of KCM to a state-appointed provisional liquidator, triggering a protracted legal battle with owner Vedanta. Zambia’s mines minister said in July that he had told ZCCM-IH to seek an out-of-court settlement.

(By Bhargav Acharya and Helen Reid; Editing by Alex Richardson)