Courts Block Zambia’s Sale Of Vedanta Mine

The High Court in South Africa has blocked the sale of Vedanta’s Konkola Copper Mine by the Zambian government pending arbitration.

The ruling comes as Vedanta and the government remain at odds regarding allegations that the company had breached the terms of its license. 

The Zambian government earlier appointed a liquidator to come in. However, Vedanta is challenging the move in the courts..

According to Zambia’s minister of mines Richard Musukwa the government intends to appeal the judgement. Musukwa has previously indicated that Zambia has received interest regarding the asset from a number of companies from Russia, Turkey, Australia, Canada and China.