On Tuesday, the company said that Zambia should halt the search for a new investor in Konkola Copper Mines (KCM) until the Litigation is settled with Vedanta Resources. The previous government of Zambia put KCM liquidator in May 2019.The Vedanta’s government was accused of failing to honour licence conditions, including investment. Meanwhile, Vedanta has denied it to break the term of its licence.
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KCM provisional liquidator Celine Nair said that the company would appoint an adviser to help it find an equity investor willing to fund the mine’s expansion. “Significant efforts to sell KCM to other companies were made previously, but these efforts failed,” Ndhlovu said.
