LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

Production stalled at Vedanta Resources' Konkola Copper Mines in Zambia

Zambia's Konkola Copper Mines (KCM) is not producing copper, the chief executive of the mining firm`s owner Vedanta Resources said on Friday.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Production stalled at Vedanta Resources' Konkola Copper Mines in Zambia
Vedanta is fighting Zambia`s decision this month to name a provisional liquidator to run Vedanta Resources' 90,000 tonnes KCM business. Photo: Reuters
Written By: Reuters
Updated: Fri, May 31, 2019
11:40 pm
New Delhi, Reuters
RELATED NEWS
I want to turn Vedanta into a technology-driven company: Anil Agarwal, Chairman, Vedanta I want to turn Vedanta into a technology-driven company: Anil Agarwal, Chairman, Vedanta
Explained: Vedanta promoters set to buy 5% stake; Anil Singhvi decodes move, reveals how investors should react Explained: Vedanta promoters set to buy 5% stake; Anil Singhvi decodes move, reveals how investors should react
Vedanta announces Rs 9.5 dividend; Check out Market Guru Anil Singhvi's strategy to trade in this stock Vedanta announces Rs 9.5 dividend; Check out Market Guru Anil Singhvi's strategy to trade in this stock
Zee Business' Hindustan Zinc dividend payout estimates spot-on! Vedanta to benefit too, says Anil Singhvi Zee Business' Hindustan Zinc dividend payout estimates spot-on! Vedanta to benefit too, says Anil Singhvi

Zambia's Konkola Copper Mines (KCM) is not producing copper, the chief executive of the mining firm`s owner Vedanta Resources said on Friday. Vedanta is fighting Zambia`s decision this month to name a provisional liquidator to run Vedanta Resources' 90,000 tonnes KCM business and said in a statement that it was seeking international arbitration. Legal proceedings in Zambia have been adjourned to June 4.

Zambia`s Chamber of Mines said last week that Africa`s second largest copper producer was at risk of a drastic fall in copper output because of recent tax changes.

"From what we understand, there is not any production coming out of the mine," Vedanta Resources CEO Srinivaan Vekatakrishnan said on a conference call on Friday.

A mining industry source with knowledge of KCM`s operations said it had not been in production for several weeks.

"They owe a lot of money and with no mining taking place for several weeks, even concentrate suppliers want first to be paid outstanding amounts and upfront payments for fresh supplies," the source told Reuters on condition of anonymity. KCM miners were paid this week after a delay of around three days. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
VedantaVedanta Copper
RELATED NEWS
I want to turn Vedanta into a technology-driven company: Anil Agarwal, Chairman, Vedanta I want to turn Vedanta into a technology-driven company: Anil Agarwal, Chairman, Vedanta
Explained: Vedanta promoters set to buy 5% stake; Anil Singhvi decodes move, reveals how investors should react Explained: Vedanta promoters set to buy 5% stake; Anil Singhvi decodes move, reveals how investors should react
Vedanta announces Rs 9.5 dividend; Check out Market Guru Anil Singhvi's strategy to trade in this stock Vedanta announces Rs 9.5 dividend; Check out Market Guru Anil Singhvi's strategy to trade in this stock
Zee Business' Hindustan Zinc dividend payout estimates spot-on! Vedanta to benefit too, says Anil Singhvi Zee Business' Hindustan Zinc dividend payout estimates spot-on! Vedanta to benefit too, says Anil Singhvi
Vedanta delisting: Failed move triggers debate on FDI tag, limited disclosure Vedanta delisting: Failed move triggers debate on FDI tag, limited disclosure

LATEST NEWS

Announcement LIVE: IIT JEE Main 2021 Result February - Date, time, declaration on NTA website direct link jeemain.nta.nic.in, download answer key, score checking and more

Listing facilitation! Ahead of LIC IPO, authorised capital boost of Rs 25,000 crores - All you need to know

Rakesh Jhunjhunwala stocks: This Big Bull-owned MULTIBAGGER has delivered more than 42 pct in less than two month

Stock Market Outlook: Focus will be on these - Check what share bazaar experts, analysts opined

COVID-19: India records 18,711 new cases

Twitter CEO and billionaire Jack Dorsey puts his 1st tweet on sale, bid reaches Rs 2 cr

REVEALED! What gave a massive 400% jump to FDI in computer software, hardware during Apr-Dec 2020

Super hi-tech driverless pod taxis for Noida Aiport! Check Yogi Adityanath government's big plans for Jewar

West Bengal Elections: PM Narendra Modi launches blistering attack on Mamata Banerjee - Top quotes

Life Insurance Coverage Calculator: Simple cover calculation in just 3 steps - EXPLAINED

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved