Companies weigh bids for Vedanta’s Zambian assets — minister
Mines minister says bidding process will start after companies have conducted due diligence on Konkola Copper Mines
17 July 2019 - 14:57
Lusaka — Zambia expects nine companies to submit bids for Konkola Copper Mines (KCM) within weeks, mines minister Richard Musukwa said on Wednesday, even as a court case with Mumbai-listed Vedanta over its ownership was underway.
The dispute between the government and Vedanta started in May when Zambia appointed a liquidator to run KCM, which is about 20% owned by Zambia’s state mining company and majority owned by Vedanta, and accused it of breaching its licence...
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