Zambia to Choose Buyer for Vedanta Unit in July, Lungu Says
- State moved to liquidate Konkola Copper Mines last month
- Government is open to revisiting mining taxes, president says
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Zambia’s government expects to conclude talks with potential buyers of Vedanta Resources Ltd.’s local copper unit within a month, President Edgar Lungu told Bloomberg.
His comments preempted a hearing by Zambia’s High Court on Thursday on the state’s bid to liquidate the asset after a dispute between the government and the Indian company. The stand-off has rattled investors, with yields on the Eurobonds of Africa’s second-biggest copper producer surging to new records last month.