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Zambian President Mr Lungu Will Not Meet Vedanta Chief Mr Agarwal

Metal News - Published on Thu, 22 Aug 2019

Image Source: Lusaka Times
Zambian President Mr Edgar Lungu’s office said that he will not meet officials from India's Vedanta Resources while on his three day state visit to India. Zambian leader's office said he will not be meeting Vedanta Chairman Mr Anil Agarwal or his representatives. It added that his schedule while in India does not include meeting officials from the mining firm although he revealed that he will meet representatives from 12 Zambian based Indian firms which do not include KCM.

On Tuesday, Vedanta had said that it will meet with Mr Lungu while on his visit for further discussions on its disputed Konkola Copper Mines unit in Zambia.

Vedanta has been locked in a dispute with the Zambian government since May this year when authorities appointed a liquidator to run KCM, after accusing the Indian firm of breaching terms of its license. Vedanta is on the verge of losing the lucrative copper mines in Zambia Konkola Copper Mines for allegedly defaulting on tax payments and violating operational license. In May, the Zambian high court appointed a provisional liquidator to dissolve the company, but the High Court in Johannesburg, which is the seat of international arbitration in Africa, has ordered to halt any sell-off of KCM assets.

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Posted By : Amom Remju on Thu, 22 Aug 2019
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