British court orders Vedanta's Zambia unit to pay government $100 mln

By Reuters / December 20, 2016 / in.investing.com / Article Link

LUSAKA, Dec 20 (Reuters) - Konkola Copper Mines (KCM), owned by Vedanta Resources < VED.L>, has been ordered by a London court to pay the Zambian government more than $100 million for a claim related to the copper price, the state-owned company said in a statement.

The claim relates to outstanding payments under a 2013 copper price participation settlement agreement entered into between Zambia Consolidated Copper Mines Investments Holdings (ZCCM-IH) and KCM, the company said late on Monday.

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