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Vedanta seeks international arbitration to resolve Zambian copper dispute

Zambia's government this month began liquidation proceedings against Vedanta's Konkola Copper Mines, after accusing Vedanta of lying about expansion plans and paying too little tax

Vedanta
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Matthew Hill and Taonga Clifford Mitimingi | Bloomberg
Vedanta Resources Ltd., owned by Indian billionaire Anil Agarwal, said it’s seeking international arbitration to resolve a dispute with the Zambian government about its copper assets in the country.
 
Zambia’s government this month began liquidation proceedings against Vedanta’s Konkola Copper Mines, after accusing Vedanta of lying about expansion plans and paying too little tax. The company says it is a “loyal investor” that’s spent more than $3 billion in the country since 2004.
 
Vedanta notified state-owned ZCCM Investments Holdings, the minority shareholder in KCM, of a dispute under a shareholders agreement, it said in a statement on Friday.
 
“The shareholders’

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First Published: May 31 2019 | 5:56 PM IST

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