Copper price jumps on China policy, but we’ve been here before
Copper looked ready to test record highs in September after a Beijing bazooka, but a new report says the deep malaise of Chinese construction trumps all else.
Zambia said on Tuesday it was proceeding with the liquidation of Vedanta Resources’ Konkola Copper Mines (KCM) even after South Africa’s High Court granted the firm an urgent interdict halting the liquidation until a final decision is made through arbitration.
Mines Minister Richard Musukwa said foreign judgments are not enforceable in Zambia until they are registered in local courts.
“To that effect, it has no effect on the processes that are going on in Zambia,” he said, referring to the South African judgment.
(By Chris Mfula; Editing by Louise Heavens)
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