Zambian Court Stops Liquidation of Vedanta’s Konkola Unit

Zambia’s Court of Appeal ordered that the final liquidation of Konkola Copper Mines be stopped to allow ZCCM Investments Holdings and Vedanta Resources to proceed to arbitration, Konkola says in statement on Friday.

• The provisional liquidator will continue to exercise the “executive responsibility of running the company, and the KCM executive-management committee remains accountable to the provisional liquidator”
• NOTE: KCM has been under liquidation for more than a year, while Vedanta is challenging this status following a dispute with the Zambian government
• NOTE: June 3, Zambia Accused of Expropriation in Escalating Electricity Spat

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