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VEDL - Vedanta News Story

₹299.6 4.7  1.6%

Last Trade - 11:29am

Basic Materials
Large Cap
Market Cap £10.85bn
Enterprise Value £12.78bn
Revenue £9.97bn
Position in Universe 45th / 3147

UPDATE 1-Konkola Copper Mines plans to restart smelter on June 22

Wed 12th June, 2019 11:20am
(Adds background)
    LUSAKA, June 12 (Reuters) - Konkola Copper Mines (KCM),
owned by Vedanta Resources  VDAN.NS , plans to restart its
Nchanga smelter on June 22, the company said on Wednesday. 
   KCM said the Nchanga smelter, near Zambia's border with
Democratic Republic of Congo, had been idle pending availability
of concentrates. 
   Last month, Vedanta's CEO had said KCM's copper mines had not
been producing copper.*:nL8N2374G4
   Vedanta is fighting Zambia's decision last month to name a
provisional liquidator to run Vedanta Resources' KCM business
and is seeking international arbitration.*:nL5N2301RK
    A Lusaka court said on Tuesday a hearing had been
provisionally set for June 20 to consider an application by
Vedanta Resources to be represented by its own lawyers in
proceedings to wind up its KCM business in Zambia, lawyers said.*:nL8N23I3XG

 (Reporting by Chris Mfula; Editing by Jane Merriman)
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