August 22, 2019 / 3:31 PM / a month ago

Zambia determined to find another investor for Konkola mine: mines minister

FILE PHOTO: Konkola Copper Mines workers wait in a lift before going to work underground in this picture taken April 12, 2005 in Konkola, Zambia. REUTERS/Salim Henry

LUSAKA (Reuters) - The Zambian government is determined to “urgently secure” an investor for Konkola Copper Mines (KCM) once the court processes over the disputed liquidation of the mine are concluded, the mines minister said on Thursday.

Vedanta Resources has been locked in a dispute with the Zambian government since May when Lusaka appointed a liquidator to run KCM, which is 20% owned by Zambia’s state mining company ZCCM-IH and the rest by Vedanta.

“I would like to categorically state that, much as the Konkola Copper Mines matter is in court, government is willing to listen to any progressive talks that will facilitate an amicable exit of the investor,” Minister of Mines and Minerals Development Richard Musukwa said in a statement.

“Government is determined, once the court processes are concluded to urgently secure a credible investor in an open and transparent manner.”

Reporting by Chris Mfula; Writing by Olivia Kumwenda-Mtambo; Editing by Alexandra Hudson

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