Company News

India's Vedanta says execs unable to visit KCM Zambia operation, engage with management

NEW DELHI, May 31 (Reuters) - Indian miner Vedanta said on Friday company executives were unable to visit its Zambian Konkola Copper Mines (KCM) operation and engage with local management in a setback to efforts to ease tensions amid a legal battle with Zambia.

Vedanta is contesting the country’s decision this month to name a provisional liquidator to run Vedanta Resources’ KCM business. The government has accused KCM of breaching its operating licence, and legal proceedings have been adjourned until June 4.

Vedanta’s Chairman Anil Agarwal said on Thursday the company was working to comply with Zambia’s laws and tax requirements, adding that he did not understand why state-controlled minority shareholder ZCCM-IH had gone to court to seek the appointment of a provisional liquidator. (Reporting by Sudarshan Varadhan in NEW DELHI and Muvija M in BENGALURU Editing by Kenneth Maxwell)