Vedanta’s bid to stay liquidation of KCM dismissed in Zambian court
In July, an SA court ordered Zambia to halt the liquidation proceedings and ruled that the state breached its shareholder obligations
Lusaka — A Zambian court has dismissed an application by Vedanta to stay the liquidation of its Konkola Copper Mines (KCM) unit, and set the hearing for a winding-up petition on Augusut 27.
“Vedanta is reviewing the ruling and will then make a decision on its next steps,” the company said in an e-mailed statement on Wednesday in response to the ruling by justice Annesi Banda-Bobo of the Lusaka high court. Preliminary arguments will be heard on August 13...